Spelling would close a designer store and drop $60,000 (£46k) in one session according to her mother Candy, who has had to come to the rescue and shored up her daughter's finances on more than one occasion. Needless to say, Spelling's inheritance was gone in no time.
In 2017, Spelling and her husband Dean McDermott were hit with a $1 million (£760k) tax bill, draining their bank accounts. Then in January 2019, the hard-up celebrity was ordered to pay an outstanding American Express credit card debt of $88,246.55 (£69.6k), adding to her never-ending money woes. Things haven't got much better in the last two years: Spelling and her husband are still in debt, with her bank taking her to court over the unpaid loans.
The hapless heir pumped millions into a series of failed projects, from a money pit art gallery (pictured) and modelling agency, to a disastrous resort project in the Bahamas that lost $30 million (£23m). His love life was just as luckless with four marriages ending in costly divorces.
Hartford declared bankruptcy in 1992 and lived alone in a rundown rented house in Brooklyn before his daughter Juliet whisked him off to the Bahamas, where he passed away in 2008, leaving the world considerably poorer than when he had arrived.
Murchison was all about having fun rather than making serious investments. In 1960, the Texan heir founded the Dallas Cowboys, steering the iconic NFL team through 20 consecutive winning seasons, bankrolled of course by his father's money.
As well as channelling millions into his football team, Murchison invested in oil, real estate, restaurants and even a pirate radio station. Many of Murchison's investments were ill-judged, and when the real estate market and oil prices collapsed in the 1980s, he was laden with debt.
Murchison, who was suffering from a rare nerve disease and confined to a wheelchair by this point, filed for bankruptcy protection in 1985, owing his creditors millions in what was one of America's largest personal bankruptcy cases. He died two years later, having been forced to sell off assets including his beloved childhood home.
Now read about the billionaires with no kids to leave their fortunes to