The Top 10 Celebrities Who Faced Financial Hardships in 2020

In the world of fame, financial struggles are often hidden beneath layers of glitz and glam. However, for many high-profile figures, financial stability can be fleeting, especially when fame fades, or the industry evolves. In this article, we examine the financial struggles of 10 celebrities who faced significant challenges in 2020, illustrating that even the most well-known personalities can encounter economic hardships. This list includes musicians, athletes, and political figures whose financial situations changed dramatically.

10. King Monada

Known for his 2019 hit song “Scarborough Moriarty,” King Monada was once one of South Africa’s wealthiest musicians. At his peak, he was valued at over $5 million, but by 2020, his net worth had reportedly dwindled to around $1.5 million. This decline was attributed to the popularity shift towards the amapiano genre, which impacted his fan base and income. As a result, King Monada reportedly lost assets, including his BMW M4, and downsized to a VW Polo while striving to maintain his former lifestyle.

9. Teko Modise

A celebrated South African soccer star, Teko Modise’s career saw a significant downturn after he was dropped from the Mamelodi Sundowns football club in 2017. Once earning a hefty monthly salary, Modise faced financial difficulties post-retirement, with his assets reportedly repossessed and his net worth plunging from $14 million to $2 million. He later chronicled his experiences in a book that highlighted his struggles with fame and financial management.

8. Babes Wodumo

Babes Wodumo, a popular South African house music artist, faced financial strain after the rise of the amapiano genre in 2019. She and her husband lost significant revenue as the music scene changed. The duo attempted to supplement their income with a reality TV show, but Wodumo’s husband’s death further compounded her financial challenges. Reports suggest that Babes had to relinquish her house and return to her parents’ home, facing debts and financial instability while raising her child.

7. Kelly Khumalo

A household name in South Africa’s entertainment industry, Kelly Khumalo’s career took a hit after controversy surrounding her ex-boyfriend’s murder. Accusations surrounding the incident damaged her public image, and fans began to lose interest in her music. In 2020, reports emerged that Kelly faced financial strain, unable to maintain payments on her car and other assets, and her net worth dropped from $10 million to $1 million.

6. Jacob Zuma

Former South African president Jacob Zuma saw his financial situation deteriorate after he left office. Faced with legal battles and sanctions related to corruption charges, he reportedly faced difficulties covering his legal expenses. His son’s business accounts were blocked, further complicating matters. Although he is rumored to have hidden assets, Zuma’s financial troubles remain well-documented, showing that even political elites can face tough times.

5. Lady Zamar

South African musician Lady Zamar faced public backlash after accusations against her former partner were dismissed in court due to insufficient evidence. Her fans lost interest in her music, leading to a significant financial setback. Without new music releases or media visibility since 2019, Lady Zamar’s career has been largely stalled, leaving her struggling to regain her footing in the industry.

4. Emtee

A talented rapper, Emtee enjoyed early success in his career, but financial challenges soon caught up with him. Emtee reportedly earned a relatively low salary from his record label, and contractual issues left him without financial stability. To make ends meet, he reportedly turned to selling weed, though he has expressed a desire to rebuild his career and regain his place in the music industry.

3. Zahara

Known for her soulful voice, Zahara’s career and finances took a hit when the music industry’s competitive nature left her struggling to maintain popularity. She accused her former label of underpaying her, contributing to her financial issues. Zahara reportedly faced repossession of her home and became the subject of social media memes after she publicly appealed for financial assistance.

2. Dr. Malinga

House music icon Dr. Malinga’s career was heavily impacted by the COVID-19 pandemic, which restricted his income from performances. He also faced a significant tax debt to SARS, which led to repossession of his assets. Despite his financial troubles, he recently surprised fans by purchasing a luxury car, though questions remain about his financial standing.

1. Zola 7

An icon in South African music and television, Zola 7 saw a considerable financial decline in recent years. Once valued at $2 million, his net worth reportedly dropped to $200,000. He faced health and financial difficulties and no longer appears regularly on stage or television. Although he continues to make some income from music streaming, Zola 7’s financial struggles illustrate how challenging it can be to maintain long-term success in the entertainment industry.

Conclusion

These stories remind us of the importance of financial planning, especially for those in careers where fame and income can be highly variable. Fame, once lost, can rarely be recovered, and without careful financial management, even the wealthiest celebrities can face bankruptcy.

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