Who would have thought that impoverished white kid from the slums of Detroit would become one of the greatest rappers of all-time? Apparently, he did especially being that he grew up reading the dictionary in order to increase his vocabulary for rhymes. With the help of Dr. Dre, Eminem was able to rise to prominence with his 1999 album, The Slim Shady LP, which gained him an insane following selling millions of records. His next album, The Marshall Mathers LP, took listeners on a journey into his dark and twisted mind as he rapped about his struggles with his mother and girlfriend.
Throughout his career, his projects have sparked controversy about domestic abuse and sociopathic behavior but Eminem reassured the public that it was pure entertainment until years later he revealed via his music that he struggled with prescription pain pill addiction that forced him to seek help. Now, the Detroit rapper continues to make music, which some might say is declining but as long as his health is intact and he's mentally stable all is well and he will remain another legend in the culture as well.
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.