There's no denying that Shaquille O'neal is and was the most dominant center to ever play the game of professional basketball. No matter who he faced throughout the prime of his career, teams had no way to stop him from entering the paint and flushing down a forceful dunk over his opponents. Shaq was originally drafted first overall by the Orlando Magic in the 1992 NBA Draft. He spent four seasons with the Florida franchise before signing a contract with the Los Angeles Lakers where he would become a household name and legend forever.
Shaq won three consecutive NBA Championships with the Lakers alongside Kobe Bryant from 2000-2002, all three years in which he received NBA Finals MVP before falling out with Bryant and the franchise and taking his talents to Miami where he won his fourth and final NBA title in 2006. It's hard to believe Shaq has only won one MVP Award which was in 2000 but has a long list of accolades that help him sleep well at night. To this very day, Shaq is everywhere from commercials to television as an analyst on Inside The NBA on TNT.
Not all celebrities have fame and fortune, some are just famous – and in a ton of debt. They came from rags to riches, then went back to rags. Whether they’ve filed bankruptcy, ended up in court, or just can’t stop spending, celebrities mismanage their money just like everyone else. They just hide it well.
50 Cent coined the term “wanksta,” then “partied like it was his birthday” until he filed Chapter 11 bankruptcy in 2015. The rapper was said to be anywhere between $10 million and $50 million in debt. In 2016, a federal bankruptcy court judge in Connecticut approved a plan for the founder of G-Unit to pay his debts back. He was able to get his bankruptcy discharged in February of the following year.
Following a 45-year-long career in Hollywood, acting in more than 70 films, actor Gary Busey found himself in more debt than he was worth. In 2012, it was reported that Busey owed between $500,000 and $1 million worth of debt, but only had $50,000 to his name. The 74-year-old actor owed money to hospitals, banks, the L.A. Waterworks District, and even a storage company. He filed Chapter 7 bankruptcy that same year. Despite his longstanding career in Hollywood, Busey's net worth is now only $500,000.
Burt Reynolds is still worth five million dollars, but his battles with debt date back more than 20 years. Between bad investments and a pricey divorce from actress Loni Anderson, the 1970s superstar had to deal with over $10 million in debt and decided to file Chapter 11 bankruptcy in 1996. While testifying in a 1994 custody hearing, the South Florida native said he spent $40 million getting through his divorce.
The former Hollywood bad boy, Charlie Sheen owes the IRS nearly $5 million. But that's not all. In 2016, his net worth was reportedly still as high as $150 million, but he was nonetheless $12 million in debt at the time – including mortgages, legal fees, and taxes. That same year, Debt.com reported Sheen owed nearly $300,000 on an American Express card alone.