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Is Lindsay Lohan Broke? How can she be broke?
Lindsay Lohan: How I blew $30 million
Lohan was worth an estimated $30 million. She earned her wealth from appearing in numerous blockbuster films: The Parent Trap, Freak Friday, Confessions of a Teenage Drama Queen, Mean Girls, and more. So where did all the money go?
Once the highest-earning actress of her generation with a net worth of $30 million, the Mean Girls actress, 24, who was ordered back to three months of rehab on Oct. 22, has been living beyond her means for the past three years ? squandering her fortune on, among other things, hotel bills, rehab costs and a carousel of legal fees.
?She indicates she cannot afford to continue to pay for the treatment program and she needs to work,? says Lohan?s probation report, with Forbes magazine reporting in 2007 the actress had earned only $3.5 million that year.
In that year of spending dangerously, Lohan reportedly blew $7.5 million, including $1 million on her hotel bill for LA?s Chateau Marmont (she resided there in 2005-06), $350,000 on luxury cars, another million on clothes, $70,000 on tanning and hairstyling and over $500,000 on partying.
?I was 18, 19, with a ton of money,? Lohan told October?s Vanity Fair, ?and no-one really here to tell me that I couldn?t do certain things ? And I see where that?s gotten me now, and I don?t like it.?
With her estimated net worth for 2010 a paltry $105,000, in September Lohan hired Britney Spears? financial manager, Lou Taylor, to help sort out her mess.
But according to Dr Lee Sadja, who dealt with Lohan during her stay at the Betty Ford Clinic, the actress needs to regain her health before she can improve her bank balance. ?There was some denial regarding her drug addiction,? he wrote in her probation report. ?[Lohan] needs to continue to work on her issues in order to save her life.?
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