Brett Favre is one of the greatest quarterbacks to ever take the field and played an insane two decades in the league. The Gulfport, Mississippi-bred Hall of Famer played his collegiate ball in his home state at the University of Southern Mississippi for four years (1987-1990). Originally, Southern Miss wanted Favre to play defensive back, but he insisted on playing quarterback where he broke several school records and held them until the arrival of Austin Davis. During his college career, Favre threw for a total of 7,695 yards and passed for 52 touchdowns.
Brett Favre was drafted 33rd overall in the second round of the 1991 NFL Draft by the Atlanta Falcons. Unfortunately, things didn't go too well in Atlanta for Favre, his first pass an NFL quarterback was intercepted and returned for a touchdown. He was cut after one season with the team and picked up by the Green Bay Packers where he would play sixteen out of the twenty seasons of his NFL career. Favre raked in $100.6 million from the Packers while also winning a Super Bowl (XXXI). In 2008, Favre signed a seven-year contract with New York Jets worth $80 million but was released after a single season. Before officially retiring in 2011, Favre would play two seasons with the Minnesota Vikings and earn $28 million.
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.