Joe Flacco has proven to be one of the better quarterbacks of this current generation. Over the past decade, we've seen quarterbacks come and go, but Flacco has stood the test of time as being a reliable offensive leader for the team's he's played for. The 6'6 quarterback from Audubon, New Jersey played football for two different collegiate teams, the University of Pittsburgh Panthers (2003-2005) and the University of Delaware Fightin' Blue Hens (2005-2007). As a backup, Flacco played very minutes for the Pittsburgh Panthers, but found his way at Delware where he broke twenty school records in three seasons playing for the school.
In the 2008 NFL Draft, Joe Flacco was drafted 18th overall by the Baltimore Ravens where he played eleven seasons leading the Ravens to a championship with a victory over the San Francisco 49ers in Super Bowl XLVII. The Super Bowl MVP received a six-year, $120.6 million extension in 2013 for his performance making him one of the highest-paid quarterbacks of this decade. In 2016, Flacco was traded to the Denver Broncos securing a acontract worth $66 million for three years of commitment. With close to $150 million paid by the Baltimore Ravens alone, Flacco set the standard for quarterback pay in the NFL today.
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.