In the '80s and '90s, you'd find it difficult to name a bigger actress than Kim Basinger. With her old-school Hollywood glam, Basinger was everywhere at one point, with starring roles in unforgettable movies such as Batman, Never Say Never Again and L.A. Confidential. But these days, we rarely hear about the once shining star.

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While her ex-husband, Alec Baldwin, is inescapable from our TV and movie screens, Basinger has not been so lucky. A series of terrible financial decisions left the once wealthy A-list actress practically destitute. So how exactly did such a popular and wealthy celeb end up in this dire state? Let's explore how Kim Basinger lost her $5.5 million net worth.

10 She Made This Ridiculous Purchase

Believe it or not, Basinger actually bought a town in her home state of Georgia. She made the bizarre purchase in 1989, hot off her Bond Girl fame from Never Say Never Again. At $20 million, the town of Braselton cost a pretty penny and would mark the beginning of her financial downward spiral.

9 But It Turned Out To Be A Huge Failure

It should come as little surprise that buying a town in Georgia turned out to be a pretty terrible idea. Although Basinger saw the purchase as an investment and planned on turning the town into a tourist attraction by building a theme park, her dreams never materialized.

Eventually, the town got forgotten about and Basinger sold it for a measly $1 million in 1993, making a staggering loss of $19 million.

8 Her Divorce Was Pricey

From 1993 to 2002, Kim Basinger and Alec Baldwin were the it couple of the era. The pair even made a hilarious appearance as themselves in The Simpsons episode "When You Dish Upon A Star". But the marriage wasn't to be. It is believed that Baldwin's alleged violent tendencies contributed to the break up.

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Divorces are usually costly, but even costlier when you're a celeb. Their divorce was one of the most bitter and expensive of all time, leaving Basinger $3 million out of pocket.

7 She Lost A Lawsuit Against A Movie Studio

In 1993, Basinger was cast as the title character in the highly controversial movie Boxing Helena, which was directed by Jennifer Lynch, daughter of filmmaker David Lynch. But Basinger was unhappy with her character and requested that the script be edited to make Helena more sympathetic. Still unsatisfied with the new draft, Basinger backed out of the movie, breaching her contract with the studio.

Subsequently, Basinger was taken to court by Main Line Pictures, who claimed they lost $6.4 million in potential sales due to the actress' hasty withdrawal. The court found in favor of the studio and forced her to pay $8.1 million.

6 She Had To File For Bankruptcy

Following the lawsuit, she had no choice but to file for Chapter 11 bankruptcy, which meant she was able to stave off payment to the studio, albeit temporarily.

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"She just didn't have the assets to satisfy this kind of outrageous award," said her lawyer Howard Weitzman. At the time, it was revealed that Basinger's net worth was just under $5.5 million, a figure that would diminish even more over time.

5 Bad Career Choices

Simply, Basinger was not savvy with regards to the roles she accepted. Throughout the years, she has been nominated for 9 Golden Raspberry Awards, making her way into the top 10 list of most Razzie-nominated actresses.

Among her bad career choices was 2000's I Dreamed of Africa, a colossal box office bomb that grossed a paltry $14 million against a $50 million budget.

4 The Roles Dried Up

Once the 2000s came, Hollywood stopped knocking on Basinger's door. Although she appeared in 2002's 8 Mile as Eminem's mom, that was pretty much the last big movie role she had.

These days, she's reduced to bit parts in lesser received movies, such as the 50 Shades trilogy, which won her the Razzie for Worst Supporting Actress in 2017.

3 She Fell Victim To A Ponzi Scheme

Basinger was one of several celebs swindled out of cash due to Bernie Madoff's Ponzi scheme. Other victims included fellow actor Kevin Bacon, who also lost millions to Madoff.

Essentially, Madoff was getting celebs to invest in his bogus company that defrauded victims by paying profits to earlier investors with funds from later investors. Madoff made $64.8 billion from the scam, which was the largest Ponzi scheme in history.

2 Her Situation Is Exacerbated By Her Health Issues

Basinger suffers from a number of serious health issues, such as anxiety, agoraphobia, and panic attacks. These conditions have exacerbated her situation, as they make it difficult for her to work. Although she initially faced her fears early on in her career, these disorders never went away.

1 She Lost Her Home

In 2018, yet another blow came to Basinger's already dire financial situation. The actress lost her Malibu home to the Woolsey Fire in California. The home was completely destroyed and the remains had to be bulldozed.

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