How David Hasselhof Almost Went Broke

Celeb TherapyJanuary 8, 2024

David Hasselhoff, known for his iconic roles in ‘Baywatch,’ ‘Knight Rider,’ and more, was once a household name and a millionaire many times over. However, his journey through fame and fortune took an unexpected twist. This article delves into the financial rollercoaster that led to the depletion of Hasselhoff’s wealth.

baywatchtv/ Instagram | “Baywatch” star’s lavish lifestyle has left him with $100,000 in credit card debt and only $600 in the bank

The Big Spender

David Hasselhoff has never been shy about his penchant for spending. In an interview with The Telegraph, he admitted to being a spender, relying heavily on credit cards to manage his finances. He stressed the importance of hands-on money management, a lesson he learned the hard way.

The ‘Baywatch’ Windfall

During his time on ‘Baywatch,’ Hasselhoff raked in an impressive $100 million in residuals over 11 seasons, earning around $60,000 per episode. Additionally, he received $4 million annually from reruns. However, this financial high point was short-lived.

homejoy_services/ Instagram | Homejoy Inc., a house cleaning and repairs start-up that hired David Hasselhoff to star in a commercial

The Costly Divorce

Hasselhoff’s marriage to Pamela Bach ended in 2006 due to his battle with alcoholism. The divorce left him grappling with staggering alimony payments, initially set at $21,000 per month. At the time, he was also financially responsible for their two daughters, Hayley and Taylor Hasselhoff.

The Court Battle

In 2016, a decade after their divorce, Hasselhoff returned to court, claiming he couldn’t sustain the high alimony payments. He was facing rumors that he had only $4,000 in liquid assets. The judge eventually reduced the monthly payments from $21,000 to $10,000, allowing Hasselhoff some financial relief.

The Startup Misfortune

Hasselhoff endorsed Homejoy Inc., an app connecting users with home cleaners and handymen. Unfortunately, the company declared bankruptcy in 2015, as it couldn’t compete with a better-funded rival. This endorsement contributed to Hasselhoff’s financial woes.

baywatchtv/ Instagram | He recently found onscreen success overseas, starring as himself in Ze Network, a German spy comedy

Credit Card Debt

In 2016, as Hasselhoff fought to reduce alimony payments, court documents revealed that he had a credit card debt of $95,281.92. His monthly spending, estimated at up to $72,000, covered household expenses, his daughters’ lifestyles, vacations, grooming, pet care, and legal fees. He also faced a $100,000 unpaid tax bill in the UK for 2014-2015.

A Grand Celebration

Despite his financial troubles, Hasselhoff celebrated his 70th birthday lavishly in 2022. The extravagant party featured a three-tiered cake, clowns, mimes, and hundreds of guests, including former ‘Baywatch’ co-stars. It was a surprising display of opulence amid his financial struggles.

Memorabilia Auctions

In 2021, Hasselhoff auctioned off memorabilia from his illustrious career, including items from ‘Knight Rider’ and ‘Baywatch.’ Notably, he offered to personally deliver the KITT car from ‘Knight Rider’ if it sold for over 25% of the asking price. This wasn’t his first auction; he had previously sold items in 2014, including a replica ‘Knight Rider’ car and a ‘Baywatch’ swimsuit.