There were two things that Tyga was famous for. The first is that he was romantically involved with Kylie Jenner. The second was his rap music career. We suspect that he'd rather those two things were the other way around, but when you get close to the Kardashian family, their fame will always eclipse yours. Now there's another thing he's famous for - he doesn't have any money. It's not because he doesn't earn any - it sounds like he just doesn't like to pay his bills.
In 2013, he 'borrowed' a designer watch with a value of $180,000 from a jeweler in Los Angeles, and then never gave it back. He then took out a series of leases on properties, but failed to pay rent on many of them. He did the same thing with a fleet of luxury cars. Eventually, his Ferraris, Bentleys, properties and everything else was repossessed from him, leaving him with the small matter of being sued by three models who claim he'd used unlicensed footage of them in a music video.
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.