At the tender age of seven-years-old, Adrian Peterson watched his older brother die at the hands of a drunk driver. This particular incident led Peterson into his obsession with sports guiding him to become a five-star recruit that would commit to playing his collegiate ball with the University of Oklahoma Sooners. During his freshman year in 2004, Peterson set an NCAA record for rushing yards by a true freshman with a total of 1,925 yards. Throughout his three-season college career, Peterson would go on to finish third in all-time Sooner rushing yards with 4,041.
His stellar performance in college led him to be the 7th overall pick in the 2007 NFL Draft by the Minnesota Vikings where he had an instant impact setting an NFL record for most rushing yards in a single game with 296 yards. His most prominent years, Peterson spent in Minnesota earning a total salary of $94.2 million dollars before being suspended for accusations of negligent injury to a child in 2014. Since then, Peterson has become a journeyman around the league playing for teams like the New Orleans Saints, the Arizona Cardinals, and now the Washington Redskins. While he's signed multi-million dollar deals with two out of the three of those franchises and accumulated over $101 million in his NFL career, Peterson claims that he is broke.
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.