Alex Smith has had a lot of ups and downs throughout his professional football career. From a rocky first six seasons to being undefeated to struggling with injuries. While his NFL has been a rollercoaster, he's been and still is being paid handsomely for his services. After playing high school football at Helix High School alongside Reggie Bush, Smith took his talents to the University of Utah from 2002-2004. While he only played in two games his freshman year, Smith led the Utah Utes victories in the 2003 Liberty Bowl and 2005 Fiesta Bowl and a 21-1 record as a starter.
Alex Smith was drafted 1st overall in the 2005 NFL Draft by the San Francisco 49ers where he played the first seven seasons of his NFL career. Though he struggled with injuries, in 2011, Smith led the 49ers to their first playoff victory since 2002. The following season, Smith was replaced by Colin Kaepernick as the starting quarterback after suffering a concussion. Smith racked up $76 million in contract money with the 49ers, in five seasons with the Kansas City Chiefs, Smith was paid $63.4 million from the organization. In 2018, Smith signed a four-year contract with the Washington Redskins worth $94 million. Unfortunately, Smith suffered a spiral compound fracture to his right leg in week eleven of the 2018 season that has left his career in jeopardy.
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.