![]() Some of the details from his bankruptcy were rather embarrassing. His assets at the time totaled $6.65 million, and his debts $11.2 million. This lawsuit forced Burt to declare Chapter 11 bankruptcy. In 1996, CBS sued him over the $3.7 million debt. When the show was canceled after four seasons, one season shy of earning syndication fees, Burt was left owing $3.7 million to the network. He simultaneously agreed to star in the CBS show "Evening Shade" and assumed he would pay back the debt once the show was sold into syndication. In 1990, Reynolds was so low on cash that he needed to borrow $4 million from CBS to help finance his lifestyle. Burt would later concede that this move took what could have been a $5-6 million write-off, and turned it into a $20-30 million loss for both men. Burt and his partner hired a consultant to help them sell the restaurants but somehow this "expert" actually convinced the two to invest in ANOTHER (different) chain of restaurants. The parent company was a disaster and customers hated the food. Burt and a partner bought 30 franchises and Burt guaranteed the leases personally. As it turned out, Burt and his partner were sold somewhat of a lemon. In the 1980s, Burt's business manager convinced him to invest in a chain of family-style country restaurants called "Po' Folks". In his prenup to the marriage, Burt listed his net worth at $15 million. When he married Loni Anderson in 1988, he bought a new Beverly Hills mansion. He also bought a mansion in Georgia, a private jet and a helicopter. He kept a stable of 150 horses at the ranch. That's the same as around $150 million today after adjusting for inflation. Burt bought several mansions in Beverly Hills, built a massive estate in Florida and bought a 160-acre ranch, also in Florida. That's $60 million after taxes in the 1980s. ![]() (Photo by Kevin Winter/Getty Images) Financial Problemsīy his own estimation, at the peak of his career Burt's net worth topped $60 million. ![]() He accused her of cheating on him and in 1993 Burt agreed to pay Loni a lump sum of $234,794.13 plus $15,000 per month in support, after just 5 years of marriage.īurt Reynolds died on Septemat the age of 82 after reportedly suffering from a heart attack. The second marriage to actress Loni Anderson ended in a bitter divorce that ultimately led to Burt declaring Chapter 11 bankruptcy. Of course, there were times when Burt Reynolds' career was marred by career flops and personal setbacks. He was nominated for an Academy Award for Best Supporting actor for his role in Boogie Nights. Later in his career he was notable for projects like "Boogie Nights", "Without a Paddle", and "Burn Notice". He became internationally famous in the 70s and 80s thanks to appearances in hit movies like "Smokey and the Bandit", "The Longest Yard" and "The Cannonball Run". It was 1972's "Deliverance" that made him into a star. In 1961 he landed his first movie roll in a film called "Angel Baby". Careerīurt soon moved to New York City to continue acting in plays and purse roles in film and TV. Burt landed the lead role and eventually won the Florida State Drama Award for the performance. While taking some extra classes at a junior college, an English teacher encouraged Burt to audition for a play called "Outward Bound". For a time he considered becoming a police officer. Burt hoped to be named an All-American, but a car accident caused a knee injury that permanently sidelined his athletic aspirations. While at FSU, his roommate for a time was future college coach and ESPN analyst Lee Corso. He attended Florida State University on a football scholarship. on February 11, 1936, in Lansing, Michigan.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |