Joe Namath's aura during his prime years were that of a Hollywood personality rather than that of an athlete's. Sex, drugs, and rock 'n roll was the lifestyle for the man nicknamed, Broadway Joe, but while he was the party type who was continuously spotted with a hottie on his arm, he also was a major problem on the football field as well. The three-sport high school athlete known for his dunking ability took his talents to the University of Alabama where he played from 1962 to 1964 and stated that residing in Alabama was a culture shock for him being that he grew up in a predominantly black neighborhood in Pennsylvania. However, that didn't stop Namath from leading the Crimson Tide to a 29-4 record during his three-year tenure in Alabama and a national championship in 1964.
In the 1965 NFL Draft, Joe Namath was selected 12th overall by the St. Louis Cardinals while the New York Jets selected Namath 1st overall in the AFL Draft. After negotiations took place, Namath signed a contract with the New York Jets where he would become a local legend and play all but one out of the thirteen seasons of his professional football career. Despite going winless in his first six games as a rookie, Namath was able to scoop up the award for AFL Rookie of the Year. He would then go on to lead the Jets to an AFL Championship win in 1968 while also being named an AFL All-Star four times and AFL MVP twice. Following the AFL-NFL merger in the mid-'60s, Namath also participated in Super Bowl III against the Baltimore Colts, leading the Jets to a 16-7 victory and winning Super Bowl MVP honors. In 132 starts, Namath ended his football career with an overall record of 64-64-4 and a touchdown to interception ratio of 173-220. While some may argue Namath is mediocre at best skill-wise, his celebrity and impact on football culturally have made him an icon.
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.