It’s believed that Lohan’s net worth has since dropped to a measly $800,000.
Lindsay Lohan was once considered one of the highest-earning actresses in Hollywood, but following a string of feuds with director and fellow actors, several run-ins with the law, and a reputation for being late onset, her earnings quickly declined, with LiLo booking nowhere near the number of roles she used to.
Not only isn’t she making the big bucks for her movies anymore but even the films she’s offered these days are usually low-budget with little to no promotion. So how does an actress who once commanded up to $15 million per movie then adjust herself to the fact that she no longer makes that kind of money?
Well, it’s arguable to say that she didn’t. Over the years, Lohan has made constant headlines for reportedly owing money here an there, before TMZ would reveal that the Herbie Fully Loaded star was also behind on her taxes for multiple years. But which have been her worst financial mistakes yet?
Lindsay Lohan’s Finances
In December 2017, it was reported that Lohan had once again fallen behind with her taxes, with sources telling People that the Rumors singer supposedly owed the IRS over $100,000 from 2010, 2014, and 2015.
Her infamous interviews with Oprah Winfrey earned Lohan a whopping $2 million, according to reports, but she had to use a huge chunk of those earnings to cover legal fees and pay back taxes, rehab fees, and other debts owed to the IRS, leaving with her next to nothing from the money.
LiLo had spent the last couple of years in Europe and the Middle East, so one could say that she probably fell behind with her payments once she left the United States, which she openly admitted had somewhat become her second home now that she spends most of her time in Dubai.
She told Entertainment Tonight: “I love living in New York, but I do love the serenity and peace that I find living in the Middle East because there are no cameras in Dubai and I can actually focus on what I want to do in life.”
“I don’t always have to be scrutinized every second. I can have a private life and have a public life, but when I choose to. And I think that’s really important.”
Fans will also recall how Lohan was sentenced to four months in jail back in 2011 after having stolen a gold necklace from a shop in Los Angeles the year prior, which she admitted to when she pled to no contest.
The piece of jewelry was said to have been worth $2,500, so one has to wonder what an actress who was still making a reasonable income in 2010 would find the need to end up in a courthouse for theft.
Lohan has made it no secret in the past that she hasn’t done well with her spending habits.
In an interview with Vanity Fair in October 2010, she said that there wasn’t much guidance for her to learn how to manage her millions – success came fast for Lohan at an early age, but her parents didn’t really help to protect her money.
“I was 18, 19 — with a ton of money and no one really here [in Los Angeles] to tell me that I couldn’t do certain things,” she expressed to the publication. “And I see where that’s gotten me now, and I don’t like it.”
“I would look up to those girls … the Britneys and whatever. And I would be like, ‘I want to be like that.’”
The 34-year-old has gotten smarter with her financial decisions now that she’s older: In 2018, she opened a beach club in Mykonos, which also landed her a reality show on MTV, titled Lindsay Lohan’s Beach Club.
LiLo says she’s looking to expand her brand over to Dubai, Thailand and Lebanon, where she sees herself building everything from her own island to plenty more beach clubs, a restaurant, and a luxury hotel – with the help of many investors, of course.
“I’m discussing designing an island in Dubai,” LiLo told Entertainment Tonight in January 2018.
“I have a lot of little projects there because I like to keep busy. So, when I’m finished filming ‘Sick Note’ I can go back to Dubai, start the lipstick, discuss that and then design this island – Lohan Island.”
It’s believed that Lohan’s net worth has since dropped to a measly $800,000, but hopefully, with all the businesses she’s working on, LiLo will see a surge in earnings sooner than later.
