Pitbull is another name from the music community who has a bad reputation with the public, but in his case, it's a little harder to pin down why he's so disliked. His main offense seems to be that he makes music that people just plain don't like. He's also been known to accept endorsement money from any brand which offers it, having promoted Kodak, Dr. Pepper, Bud Light, Walmart, and many more household brands. His willingness to lend his face and likeness to so many advertising campaigns has seen other rappers label him as a sellout.
Away from the stage, Pitbull comes across as a really nice guy. He used his own private plane to transport cancer patients to the US mainland from Puerto Rico in the aftermath of Hurricane Maria. He's also opened up the Sports Leadership and Management educational program (known as SLAM) in his native Little Havana district of Miami. The program aims to improve education and reduce the poverty gap in inner-city areas, and has since been rolled out to other American cities.
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.