January 2. 2021

Hollywood stars are panicking as productions are repeatedly being postponed or cancelled due to the coronavirus pandemic (Covid-19). Companies in Hollywood are filing bankruptcy and going under. There are also mergers of struggling companies who are making last ditch attempts to avoid going out of business.

They have made a number of fire sales of Hollywood businesses, properties and even office furniture to stay in business, in trying to buy more time with the hope things will turn around. However, they have not and another shutdown was announced this week (Coronavirus Pandemic Shuts Down Struggling Hollywood Again). To make matters worse, Hollywood ran out of ideas, which social networking repeatedly complained of over the past few years. Hence all the failed reboots that were box office duds.

Many stars live lavishly on credit and go from job to job to pay their bills, all while living outside their means. They buy very expensive items, relying on future upcoming jobs to pay for them. However, as some production companies have gone out of business, some are also under a shutdown, and large studios have laid off tens of thousands of people, celebrities are worried they are going to end up bankrupt with massive repossessions of their homes, furnishings, cars, designer clothes and jewelry (hey, it happened to Toni Braxton years ago when she filed for bankruptcy).

Some celebrities have begun selling their homes, returning leased cars and stopped paying their credit cards. Some are even discretely selling items such as clothes and shoes, among other items of their personal belongings, to get some quick cash, as their funds are running low. They are doing so under other people's names. Hollywood has been quietly downsizing.

Some Hollywood celebrities are even pimping themselves out to rich people in the tech sector in America and in the Middle East for money. Then, some of these same celebrities will go on Instagram and Twitter and tell you how you're broke failures who are not on their level.