While both Deron Williams and Jason Williams are both NBA point guards worthy of notoriety, they can't top the contributions that 'Mr. Clutch' Jerry West has instilled throughout his career as NBA player and front office executive in the league. There's no denying the man that is the living embodiment of the NBA logo. The 6'2 point guard, born in Chelyan, West Virginia played three years of collegiate basketball at the University of West Virginia before being drafted 2nd overall by the Minneapolis Lakers in 1960 NBA Draft.
From there he went on to lead the Lakers to an NBA Championship in 1970 and he's the only NBA player to be named NBA Finals MVP after losing the series in 1967. Mr. West also notched a total of fourteen NBA All-Star honors and ten All-NBA First Team roster spots throughout his fourteen-year long NBA career. He's also quite the NBA executive, he's helped the Lakers win a total of six NBA Championships as a talent scout and general manager and he even set up the current Golden State Warriors dynasty up for success.
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.