Prince was an American singer, songwriter, record producer, multi-instrumentalist, actor, and director. He was known for his electric work, flamboyant stage presence, extravagant dress and makeup, and wide vocal range. His innovative music integrated a wide variety of styles, including funk, rock, R&B, new wave, soul, psychedelia, and pop. He sold over 100 million records worldwide, making him one of the best-selling music artists of all time. He won eight Grammy Awards, six American Music Awards, a Golden Globe Award, and an Academy Award for the 1984 film Purple Rain. He was inducted into the Rock and Roll Hall of Fame in 2004.
Prince died April 21 at age 57, after being found unresponsive in an elevator at Paisley Park, his home and recording studio in Chanhassen, Minnesota. oxicology tests for Prince concluded that the entertainer died from an accidental overdose of the opioid fentanyl, according to a report on his death by the Midwest Medical Examiner's Office. Prince's Lawyer L. Londell McMillan spoke to Prince the Sunday before he died, after it was reported that his plane made an emergency landing to deal with a medical emergency involving the singer. Prince assured McMillan he was fine. "He said he was doing perfect," McMillan recalled. "He said, 'OK, I'll call you soon."'
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.