Prior to officially having a mainstream presence, 50 Cent took the route of the villain of hip-hop but, not before being shot with a total of nine bullets, one of which is still embedded in his jaw to this day and nearly losing his life in May of 2000. In 2005, he released his debut album produced by Eminem and Dr. Dre entitled, Get Rich or Die Tryin' and changed the entire landscape of hip-hop making everyone who was a fan of the genre into their own rendition of a gangsta.
Ever since then, 50 has had an insane following and has dropped tons of hit records and become of the savviest businessmen in the entire hip-hop realm. He became a multimillionaire after selling his stake in Vitamin Water to the Pepsi Corporation and has also become a hit on the silver screen and has even produced his own movies and television shows. His show Power is single-handedly keeping ShowTime afloat and he's currently working on several other acting projects as we speak. Not to mention, he's hilarious on social media.
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.