Yes, this 6'0 man with a blowout hairstyle in sky blue short-shorts has made the list, and for a good reason too. Ernie DiGregorio usually isn't a common name brought up when it comes to some of the premier talents the league has uplifted over the past several decades. However, Ernie D. does have quite the compelling rise to prominence and fall from grace. Prior to entering the NBA, DiGregorio played collegiate ball at Providence College and was drafted by the American Basketball Association's Kentucky Colonels where he played for one season.
The following year, DiGregorio was selected third overall by the Buffalo Braves in the 1973 NBA Draft. In his very first season, he became an instant phenom breaking the record for most assists by a rookie in a game with 25. In his rookie season, DiGregorio led the league in assists per game and free throw percentage while averaging 15.2 points per game which earned him the Rookie of the Year Award for the 1973-74 NBA season. Unfortunately, DiGregorio's numbers would begin to decline and a major knee injury would end his pro-basketball career in just five seasons.
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.