For all you former Baywatch fans out there, here’s a bit of news for you; Pamela Anderson is underwater without a lifeguard in sight…
Pam Anderson has been the source of many tabloid jokes regarding her unpaid taxes and over spending, however she owes just over $370,000 to the IRS and the state of California.
Her answer? She listed her 2700 square foot Malibu home that was originally built in 1959, for a whopping $7.75 million. In 2000 she paid $1.8 million for it and began to remodel it. Through various remodeling projects, she finally was overtaken by a literal money pit.
When asked how she fell into such financial distress, she said, "I haven't been in a long time. I probably should go back. I've been working non-stop, digging myself out of a construction hole. The house just enveloped me financially and I didn't know how to handle it. It happens to a lot of people in Hollywood. It was a very stressful couple of years."
The listing information describes her home as, "enter through the front Barb Wire stone gate, cross the small courtyard of olive trees and lavender, push open the ultra-wide swinging glass door, and find yourself in an open living room and kitchen design with a top-of-the-line home theater and black baby grand piano."
Architect Philip Vertoch, Pamela Anderson and designer, Josh Chryssanthou, all had a hand in the incredible renovations that took place in this ocean view, Malibu money pit. With a $6 million difference from when she bought and is trying to sell it, I hope the renovations were worth all the trouble.