How Did Lindsay Lohans Net Worth Drop Below $1 Million?
In 2004, Lindsay Lohan had amassed a $30 million net worth thanks to starring roles in movies such as Mean Girls, Freaky Friday, and The Parent Trap, which had all fared exceptionally well at the box office.
The following year, in 2005, LiLo was named one of the highest-paid actresses in Hollywood, earning up to $8 million per movie — and while she still had a lot of potential to make even more money, Lohan ruined it all due to her alleged poor behavior and many public outbursts.
While the troubled star, who plans to return to acting this year, may have thought that the millions she was making were going to continue pouring in for a lifetime, LiLo was wrong, with her net worth now having fallen to a measly $800,000. So, how exactly did Lohan get herself into such a bad financial situation and where did all of her money go? Here’s the lowdown…
Lindsay Lohan’s Money Problems
To say that Lohan made a fortune from her movie career would be an understatement. By 2005, the 34-year-old was quite literally a worldwide household name, and with the success of 2004’s Mean Girls came one of her highest-paid roles.
That same year, she was set to star as Maggie Peyton in Herbie: Fully Loaded alongside Michael Keaton, Matt Dillon, Justin Long, and Cheryl Hines. The movie itself made close to $150 million at the box office and earned Lohan a salary of $7.5 million.
Also in 2005, the New Yorker dropped her second studio album A Little More Personal, and while it’s unclear how much money she made from her short-lived music career, the project was generally well-received, selling over 500,000 copies in the US.
Its predecessor, Speak, which was released in 2004, had sold one million units in the US and reached an all-time peak at No. 4 on the Billboard Hot 200, so there was clearly a demand for music from Lohan, and with her movie career doing better than ever, dibbing in and out of music was just another hobby of hers.
After endless headlines about her alleged bad behavior on set, missing crucial work meetings, and stumbling out of the nightclub every other week in Los Angeles, Lohan was considered a liability and was no longer getting the big-paying jobs.
Her last big salary for a motion picture came when she was cast as Rachel in 2007’s Georgia Rule, and while she was offered a recurring role on Ugly Betty the following year, Lohan’s career had taken a huge hit due to all the negative press she had received.
Her multiple rehab stints also haven’t been cheap either. Lohan has been in and out of rehab for almost two decades, and while fans would assume that someone as “rich” as LiLo would be able to afford the hefty costs, it was quite the opposite.
Lohan wasn’t just paying bills for her rehab stay, she was also making sense of all the unpaid taxes that had accumulated over the years. In 2012, for example, she owed $233k and in 2017, she owed another $100k.
In 2011, she was also sued for failing to pay $100k for services provided by a limousine company, according to E! News, while another $40k bill was served to her at a Las Vegas tanning salon in 2012, which had also not been paid.
On top of that, let’s not forget the time Lohan lost a Hermes Birkin handbag worth between $50k-$200k in 2006. To make matters worse, she had $1 million worth of jewelry inside the bag, which went missing at London’s Heathrow Airport, as per Toronto City News.
Since her acting days are more or less over, Lohan has been trying to jumpstart other ventures that can provide another cash flow. She turned her attention to a Mykonos Beach Club, which opened back in 2018.
The following year, however, the entire property had been abandoned, leading fans to believe that business wasn’t running as smoothly as Lohan would’ve hoped and she gave up on the project.
"A look into the club’s TripAdvisor page seems to confirm that the Beach House is no longer. Several users complained about trying to call and make reservations, only for no one to answer the phone,” Refinery29 writes.
Meanwhile, a fan who had intended to visit the beach club in Mykonos, continued, “We tried calling and emailing Lohan beach house, they never responded. They advertised being open for summer season, specifically late May. We drove past and it’s literally beat. That’s not how you throw a party in Mykonos, Lindsay.”
In response to fans wondering why her beach club had been closed, Lohan took aim at Page Six for reporting the story and claiming there was no truth to claims she had shut the business down.
“If you want a true story @pagesix travel to #istanbul and write something real for once...families that loose [sic] limbs in Syria and you write crap stories about celebs. Start writing the damn truth.”
Interestingly enough, however, the beach club has remained closed for the past two years.
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