3.Kim Basinger – A Town – $20 Million
One of the most expensive and useless things celebrities buy is a… town.
Yes, you read that right, a town. Back in 1989, Kim Basinger decided that buying a whole town in Georgia for $20 million is a great investment. But it turned out it was not.
The actress wanted to turn Braselton into a tourist destination for movie studios, featuring makeshift movie studios and grand film festivals.
That never happened, the whole thing being a big (huge) bad investment. Basinger was forced to sell the town for just $1 million 5 years later, her declaring bankruptcy.
Well Kim, next time just buy a house, or even a hotel, but don’t go so big on towns.
Gold, gold, gold everywhere at #2!