History’s Most Infamous Spenders

Believe it or not, celebrities of yesterday and even today can still be financially irresponsible despite having talent, power, or prestige. Though these historical figures were remarkable in their crafts and gifted enough to help change the world, they all shared one thing in common: a lack of financial intelligence. We all know someone who continues to spend way beyond their means or invest in get-rich-quick schemes that never pan out. But these 20 historical figures took it to the next level.

Hans Holbein the Younger on Wikimedia

1. King Henry VIII – England’s Lavish Spender

Henry VIII is remembered for his six marriages, but his finances were just as extravagant. He drained the royal treasury with lavish feasts, palaces, and wars. Even the dissolution of monasteries couldn’t fully cover his spending habits.

Unknown authorUnknown author on Wikimedia

2. Marie Antoinette – The Queen Who Loved Luxury

Marie Antoinette’s taste for fashion, jewels, and opulent parties is legendary. Her spending contributed to public resentment leading up to the French Revolution. Despite her royal status, her finances were notoriously unchecked.

Élisabeth Louise Vigée Le Brun on Wikimedia

3. P.T. Barnum – Circus Mogul With Empty Pockets

Barnum may have created a legendary circus, but he wasn’t always smart with money. He invested heavily in ambitious ventures that didn’t always pay off. His financial ups and downs were almost as dramatic as his shows.

Wikibob~commonswiki on Wikimedia

4. Oscar Wilde – Literary Genius, Poor Investor

Wilde dazzled readers with his wit but failed to manage his personal finances. Extravagant clothing and a lavish lifestyle drained his resources. He even faced debt and imprisonment partly because of his financial recklessness.

W. & D. Downey on Wikimedia

5. Cleopatra – Spending to Maintain Power

Cleopatra had immense wealth as queen of Egypt but spent it quickly to secure alliances and power. Lavish gifts for Julius Caesar and Mark Antony were essential politically but expensive. Even rulers with vast resources struggled to keep up with her spending.

William Wetmore Story on Wikimedia

6. F. Scott Fitzgerald – Author of Glamour and Debt

F. Scott Fitzgerald captured the Jazz Age on paper but couldn’t manage money in real life. Lavish parties, alcohol, and a glamorous lifestyle kept him perpetually in debt. His financial struggles were as dramatic as the stories he wrote.

Photographer unknown. The publicity photo was distributed by Fitzgerald's publisher, Scribner's (source: Curtis, William (April 15, 1922).

7. Napoleon Bonaparte – Conqueror With Costly Ambitions

Napoleon’s wars expanded empires but drained France’s treasury. His desire for glory often outweighed economic practicality. Even great military strategy couldn’t solve his financial mismanagement.

Andrea Appiani on Wikimedia

8. Imelda Marcos – Shoes and Extravagance

The former First Lady of the Philippines became infamous for collecting thousands of shoes. Her obsession with luxury drained public funds and sparked international criticism. Her story is a prime example of wealth misused on personal indulgence.

Imelda-alone.jpg: * Trikosko, Marion S. Derivative: 23prootie derivative work: Octave.H on Wikimedia

9. Wolfgang Amadeus Mozart – Musical Genius, Financial Mess

Mozart created timeless music but never kept a handle on his spending. Lavish living, gambling, and poor planning often left him in debt. Despite his brilliance, he died with little financial security.

Barbara Krafft on Wikimedia

10. Ulysses S. Grant – War Hero in Debt

Grant was a military hero but struggled financially after leaving office. He made poor investments in a failed banking venture. Despite his national fame, he faced financial hardship until the last years of his life.

Brady-Handy Photograph Collection, Library of Congress on Wikimedia

11. Mark Twain – Humorist With High Expenses

Twain earned well from his writing but frequently mismanaged funds. He invested in failed inventions and overspent on homes and travel. Bankruptcy nearly destroyed him before he recovered with new book deals.

Photographer: A.F. Bradley in his studio. on Wikimedia

12. Alexander Hamilton – Brilliant Mind, Risky Finances

Hamilton helped shape America’s financial system but personally took financial risks that didn’t always pay off. Speculative investments caused tension with allies and family. His life reminds us that even financial geniuses can miscalculate.

Fæ on Wikimedia

13. John Law – Economic Experiment Gone Wrong

John Law created the Mississippi Company bubble, which collapsed spectacularly. His financial schemes initially created wealth but ended in chaos. The fallout ruined countless investors and tarnished his reputation forever.

Casimir de Balthasar on Wikimedia

14. Catherine the Great – Spending on Splendor

Catherine the Great of Russia loved building palaces and commissioning art. Her court’s luxurious lifestyle drained funds, even though she ruled a wealthy empire. Extravagance sometimes overshadowed practicality in her reign.

After Alexander Roslin on Wikimedia

15. Elvis Presley – King of Rock, Poor Investor

Elvis made millions but spent extravagantly on cars, homes, and gifts. Despite huge earnings, mismanaged finances left him heavily taxed and in debt at times. Fame and fortune didn’t equal financial wisdom.

Ollie Atkins, chief White House photographer at the time. See ARC record. on Wikimedia

16. Howard Hughes – Wealth Without Financial Discipline

Hughes inherited massive wealth but poured fortunes into eccentric projects and aviation experiments. His investments often lacked long-term planning. Despite money and genius, he struggled to maintain financial stability.

AnonymousUnknown author on Wikimedia

17. King Louis XVI – Debt Before the Revolution

Louis XVI faced mounting national debt partially because of personal and royal extravagance. Overspending on palaces, ceremonies, and wars worsened France’s economic crisis. His inability to manage money contributed to his downfall.

gravure anonyme du XVIIIe siècle on Wikimedia

18. Jane Austen – Literary Success, Modest Means

While Jane Austen wrote iconic novels, she never gained financial independence. Her earnings were modest, and she relied on family support. Even literary fame didn’t guarantee financial security in her era.

Cassandra Austen. Engraving by Lizars on Wikimedia

19. Howard Stern – Spending Beyond Earnings

While not necessarily a historical figure, Howard Stern has built a media empire that will be remembered throughout history. However, he has admitted to overspending early in his career. High lifestyle costs and taxes required careful management later on. Even media moguls can struggle with finances without discipline.

Silent K on Flickr on Wikimedia

20. Napoleon III – Emperor With Lavish Taste

Napoleon III spent heavily on court life, military campaigns, and rebuilding Paris. His financial decisions often strained France’s treasury. Ambition and luxury frequently overrode fiscal responsibility.

Franz Xaver Winterhalter on Wikimedia