Redd Foxx’s Financial Problems
According to those on the Sanford and Son set, Redd Foxx was often so generous with his money that he found himself broke. This led to his major financial problems. At one time, he earned over $4 million a year, but his lavish lifestyle and bad money management depleted his fortune, as well as paying out a $300,000 divorce settlement in 1981.
In 1989, the IRS seized Foxx’s home in Las Vegas and his seven vehicles to pay the taxes he owed, which had grown to $996,630. They also took $12,769 in cash, a dozen guns, and some 300 items in total. At the time of his death in 1991, Foxx reportedly owed more than $3.6 million in taxes.