Sinbad Net Worth
Sinbad net worth: Sinbad is a Michigan-born actor and comedian who has a net worth of -$10.77 million. Sinbad first gained fame as a stand-up comedian then as an actor. Sinbad became a household name appearing on "The Cosby Show" spin-off "A Different World" in the late 80s. After leaving "A Different World" he went on to co-star or star in various films and television series, and starred in his own series, "The Sinbad Show" for one season. Most recently he was part of the cast of "Celebrity Apprentice". At the peak of his career in the mid 90s, Sinbad appeared in movies like "Jingle All The Way" alongside Arnold Schwarzenegger, "Houseguest", "Coneheads" and more. Unfortunately, Sinbad has battled with the IRS over various tax issues for nearly a decade. In May 2013, he was forced to file for Chapter 13 bankruptcy. In the filing Sinbad claims that he has just $131 thousand in assets and $10.99 million in debt. In total he owes $375 thousand to American Express, $30,000 to Bank of America, $2.3 million to the state of California and $8.3 million to the IRS. The $8.3 million debt covers taxes owed for the years 1998-2006. As for his assets, Sinbad claims his monthly income is $16,000, he still owns a 2007 BMW 750 and a 2010 Lincoln Navigator. Chapter 13 bankruptcy means Sinbad's debts will be re-organized, not completely wiped clean as would be the case with Chapter 7. Chapter 7 is much worse for an individual's credit and is only an option when the debtor has no assets or income.