Despite being a Los Angeles high school football legend and attending Stanford during his college years, John Elway was born in Port Angeles, Washington, leaving him to hold the crown of the Evergreen State over of Chicago Bears legend Brian Urlacher. As previously stated, Elway spent his collegiate years at Stanford University where he not only excelled at football but baseball as well. Elway was so good at baseball, he was drafted in the 1981 MLB Draft by the New York Yankees. Elway went on to play with the team's affiliate team Oneonta Yankees prior to choosing football as his ultimate pro-sports career.
After having major success in college, Elway was drafted first overall by the Baltimore Colts in the 1983 NFL Draft. Due to contract struggles and Elway's unwillingness to play in Baltimore, he later joined the Denver Broncos where he would become a Hall of Fame-caliber quarterback. Elway's NFL career was one hell of a rollercoaster losing three Super Bowls prior to being the driving force the franchises first Super Bowl victory at Super Bowl XXXII. The next year, Elway led the Broncos to another championship. With one NFL MVP (1987), one Super Bowl MVP (Super Bowl XXXIII) and nine Pro Bowl selections, his career wasn't perfect, but he never backed down and wasn't afraid to fail. To this very day, Elway works closely with the Denver Broncos franchise.
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.