Four huge celebrities who used to be billionaires, and how they lost their money

Hailey Bieber became a billionaire this week, and while celebrities are constantly moving up and down that financial ladder, some of the world’s biggest names are no longer billionaires – not that we’re going to lose sleep over it.

Hailey is in the process of finalising the acquisition of her Rhode beauty company, with e.l.f. Beauty. The deal, which is valued at $1 billion, will see Justin Bieber’s wife get $800 million in cash and stocks when the deal closes, and a further $200 million that is dependent on Rhode’s continued success. Celebrating the huge win on Instagram, Hailey wrote: “When I launched @rhode in 2022, I always had big dreams for the company. The most important thing to me is to keep bringing Rhode to more spaces, places, and faces globally.”

If there’s secretly a covert members’ club where the world’s richest get together – I wouldn’t put it past them – you won’t see these celebrities there anytime soon because they are no longer billionaires.

Kylie Jenner is one celebrity who used to be a billionaire

Kylie Jenner situated herself as the most successful member of the Kardashian clan when it emerged in 2019 that her net worth was $1 billion. She was on the cover of magazines thanks to her Kylie Cosmetics empire, but just a year later, in 2020, Forbes reduced her net worth to $900 million. Part of this was due to the effect of the COVID-19 pandemic, but also because Kylie oversold just how successful she was.

Kanye West lost millions just recently

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There was a time when Kanye West was one of the most successful music stars of all time, with a projected net worth of $2 billion. Things had been going downhill for Kanye for a few years, but in 2022, following a string of anti-Semitic remarks, Adidas terminated its partnership with his Yeezy and sent Kanye’s net worth plummeting to the ground.

Amongst the celebrities who used to be billionaires, Kanye West is still incredibly wealthy with a net worth of $400 million.

J. K. Rowling’s finances have dipped in recent years

At the height of her fame in 2007, following the worldwide success of the Harry Potter franchise, she who shall not be named had a net worth of approximately $1 billion. Nearly 20 years later, and after the less successful Fantastic Beasts franchise, JK Rowling has a reported net worth of £945 million, according to The Times.

It’s not immediately clear why her net worth has dipped, that is, besides being a one-hit wonder with Harry Potter, but donating to anti-trans causes is bound to leave a dent in your bottom line.

You know Gary Lauder’s products

You might not recognise the name Gary Lauder, but I’m willing to bet you know, or own, some of Estée Lauder’s products. After Covid-19, war in the Middle East, and a number of other major factors, the entire Lauder family saw drops in their net worth. For Gary Lauder, that meant going from $1.3 billion to $960 million – ouch.

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Featured image credit: ABC News