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The 10 Worst Celebrity Business Owners

2 of 12

Kim Basinger

Buying the small town of Braselton, Georgia for $20 million, with the dream of turning it into a tourist attraction that featured movie studios and a film festival, was a massive failure for Kim Basinger. She became interested in the town while stuck in a traffic jam. She saw a sign that read: "Braselton: If You Lived Here, You'd Be Home by Now" and evidently there was no turning back. We've seen similar signs outside condos near packed freeways in Oakland, Calif., but have never thought of buying the entire city. After buying Braselton, Basinger told reporters, "Finally, here are some people who will know who's the boss."



Northeast Georgia is a long way from Hollywood, however, and Basinger's big plans never quite came together. In 1993, five years after she and her partners bought the town, she sold it for $1 million and later declared bankruptcy.



The town of 2,294 residents is now owned by a developer. Braselton is the home of Chateau Elan Winery, the headquarters of the American Junior Golf Association, the Panoz Motor Sports Group, and the Road Atlanta race track. The town also has major distribution warehouses for Sears Appliance Division, Tractor Supply, Haverty's Furniture and Home Depot Distribution Center. (Photo: AP)

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