Hailing from Oklahoma City, OK, defensive tackle, Gerald McCoy was a five-star recruit out his hometown Southeast High School. McCoy ditched many prestigious football schools like USC, University of Miami, Norte Dame, Virginia Tech, and more before committing to the University of Oklahoma in 2006. After redshirting his freshman year, McCoy played three seasons with the Sooners. In his junior year he was named Big-12 Defensive Player of the Year with career numbers of 51 total tackles, 14.5 sacks, and two forced fumbles.
The imposing 6'4, 300lb defensive lineman was drafted 3rd overall in the 2010 NFL Draft by the Tampa Bay Buccaneers. McCoy logged nine seasons with the Bucs, where he was named a 6x Pro Bowler and 3x First-Team All-Pro recipient while with the team. Out the gate, the Bucs offered McCoy a five-year $55 million contract with $20.8 million guaranteed. In 2014, McCoy signed a seven-year $95.2 million extension that was terminated earlier this year. McCoy then took his talents to the Carolina Panthers for a one-year $9 million contract. This season his sacked his ex-teammate, Jamies Winston 2.5 times.
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.