Believe it or not, reality television can make it surprisingly easy to build a fortune. Some of the highest-paid reality stars like Snooki and Lauren Conrad made hundreds of thousands for every episode. It’s also really easy to squander it all away.
For some reality stars, it might be a nasty divorce or child support payments that whittles away their fortune. For others, it’s simply bad spending habits or worse—tax evasion. Check out how many of your favorite reality stars are secretly really, really poor.
You’ll never guess which reality competition contestant had to resort to selling his “seed” for money.
“The Situation” Is In A Bad Tax Situation
At his height, Mike “The Situation” Sorrentino was one of the main cast members of Jersey Shore. By the final season, Sorrentino was bringing in $150,000 per episode and had amassed a net worth of more than $10 million.
Unfortunately, with all that money he couldn’t figure out how to hire an accountant. The Situation made a few bad investments and failed to pay taxes on more than $9 million of his income. His tax evasion led to his high-profile arrest and incarceration. Today, he’s only worth about $300,000.