How Anna Nicole Smith Lost Most of Her Wealth

Anna Nicole Smith was once one of Hollywood’s most remarkable rags-to-riches stories. Born Vickie Lynn Hogan in Texas, she faced early struggles, dropping out of high school and becoming a young mother at the age of 18. She started working at a strip club where she met her future husband, Howard Marshall, an 86-year-old billionaire. However, it wasn’t until later that they married in 1994, by which time Smith had already gained fame as Playmate of the Year and had become the face of Guess. Her star continued to rise with roles in “Naked Gun 33 ⅓: The Final Insult” and her own reality show, “The Anna Nicole Show.”

During her marriage to Marshall, Smith enjoyed the high life. During a trip to Harry Winston, she spent a staggering $2 million on jewelry. When Marshall passed away in 1995, Smith expected to inherit a portion of his fortune. To her dismay, she discovered that she had been left out of his will. With the inheritance battle ensuing with Marshall’s son and dwindling finances, Smith ultimately filed for bankruptcy.

Despite marrying one of America’s wealthiest men, Anna Nicole Smith was left with nothing after Howard Marshall’s death. Her financial irresponsibility became evident when she filed for bankruptcy a year later. According to CBS News and The Associated Press, Smith earned hundreds of thousands of dollars in the entertainment sector but neglected to pay taxes and utility bills. She reportedly lost over $2 million worth of jewelry and was frequently in poor condition during interviews with her bankruptcy examiner, who noted her slurred speech and disoriented state.

Smith’s legal battle with Marshall’s son, Pierce Marshall, continued for years. In 2000, a judge awarded her approximately $450 million. Smith expressed joy, telling a Houston station, “I’m so excited. No one ever took care of me in my whole life, and this man did and I loved him for that.” However, her legal troubles were far from over. Pierce persisted, and as Smith received her windfall, she faced yet another lawsuit.

After being awarded nearly half a billion dollars, Anna Nicole Smith faced another legal complication. According to ABC News, movie producer Vince Offer sued Smith in 1996 for allegedly breaching her contract after she backed out of “The Underground Comedy Movie” at the last minute. “I couldn’t sell this movie I made called Underground Comedy. I put all my own money into it and I sued Anna Nicole Smith because we lost $100,000 because she backed out the day before,” Offer explained to CNBC.

Meanwhile, Pierce Marshall continued his efforts to recover his family’s fortune. In 2002, the court reduced Smith’s award to $88 million. Despite this reduction, Marshall vowed to appeal the decision. The legal battles were still ongoing when Anna Nicole Smith tragically died from an accidental overdose in 2007. At the time of her death, reports indicated that Smith had only $1 million left to her name.