David Thompson is another one of the classic NBA athletes that tends to be looked over as well because of his lack of concrete accolades but during his stint in the NBA, he was known as one of the league's deadliest scorers. Thompson played for both the ABA and the NBA, the Denver Nuggets [1975-1982] for both leagues and the Seattle Supersonics in the NBA [1982-1984]. In 1974, Thompson earned an NCAA title with NC State and went on to be drafted first overall by the Atlanta Hawks in the 1975 NBA Draft.
Thompson is one of the few NBA players to a 70+ scoring game as he scored 73 points against the Detroit Pistons in 1978 in an effort win the Scoring Title but came up short after George Gervin scored 63 points in a game later the same evening. Thompson later broke records when he was offered a $4 million contract for five years of commitment following the 1978 season, a contract of that magnitude had never been heard of during the time. Unfortunately, Thompson suffered a knee injury at the infamous Studio 54 in 1984 and never was the same athlete.
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.