Celebrity - News
How David Hasselhoff Lost So Much Of His Money
By LARA ROSALES
Income vs. Spending
David Hasselhoff has frequently admitted to being a big spender. However, during his 2006 divorce from Pamela Bach, he claimed he didn't have enough money.
On the other hand, Bach alleged that Hasselhoff was understating his net worth, asserting it was closer to $120 million with monthly expenses of $66,000.
Hasselhoff’s Divorce
Following the divorce, Hasselhoff had to start paying Bach $252,000 annually while also covering the expenses of their daughters, Hayley and Taylor.
“I am [...] at an age when I should be preparing for retirement and not having to continue working in order to pay [Bach's] support,” Hasselhoff stated in court documents.
Paying The Alimony
A decade after their divorce, with only $4,000 in liquid assets, Hasselhoff returned to court, citing his inability to sustain alimony payments to Bach.
Luckily for Hasselhoff, the judge agreed the payments were too high and, according to the Daily Mail, his monthly alimony payments went from $21,000 to $10,000.
Poor Endorsements
One of Hasselhoff’s endorsements was in Homejoy Inc., an app that helped connect customers with house cleaners and handymen in the U.S., Canada, and the U.K.
However, Hasselhoff took another hit when Homejoy Inc. declared bankruptcy in 2015 after its competitor, Handy Technologies Inc., was able to raise $15
million more in funding.
Credit Card Debt
In 2016, while Hasselhoff was fighting his ex-wife in court, the Daily Mail got access to the court documents that revealed his credit card debt of $95,281.92.
According to the documents, Hasselhoff’s set expenses included the costs of his household, the maintenance of his daughters' lifestyles, the legal costs, and much more.