What is Gary Busey’s net worth?  Lethal Weapon star’s financial troubles explored amid probation

There have been talks about Gary Busey’s financial troubles after the Lethal Weapon star was sentenced to two years’ probation for a sexual offense.

In 2012, Busey filed for Chapter 7 bankruptcy in California, where he listed that he had less than $50,000 in his assets and between $500,000 and $1 million in debts. A report by TMZ showed that he owed money to everyone.

“from the IRS ... to various lawyers ... UCLA Medical Center ... Wells Fargo ... L.A. County Waterworks Districts ... and a storage company,” as reflected in his court documents.

He has an estimated net worth of $500 thousand, according to Celebrity Net Worth. Starting his early career as a drummer with legends like Leon Russell and Willie Nelson, Busey shot to fame with his role as Buddy Holly in the 1978 film, The Buddy Holly Story.

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Understanding Gary Busey’s financial troubles

In the 1980s and 1990s, Gary Busey went on to become a successful actor with films such as Lethal Weapon, starring alongside Mel Gibson and Danny Glover. He was seen in Point Break, Under Siege, Predator 2, and The Firm.

He also generated income from his TV appearances in shows such as Dancing with the Stars, The Celebrity Apprentice, and Celebrity Rehab with Dr. Drew.

Gary Busey’s financial troubles began several years before he filed for bankruptcy due to unpaid back taxes, high expenses, and medical bills. He owed over $450,000 in taxes from 1998 to 2009 to the Internal Revenue Service (IRS) and California's Franchise Tax Board.

He primarily derived his income, $14,808.08 a month, from acting. He also draws his pensions from the Screen Actors Guild and the American Federation of Television & Radio Artists.

Reportedly, despite earning around $18,000 monthly, his expenses exceeded his income by nearly $3000 per month due to the rent of his house. His financial troubles are also attributed to his childcare, insurance, storage, business expenses, and support for his teenage daughter.

These were combined with his costly medical treatments and multiple rehab stints, related to a near-fatal accident in 1988. According to a report in The Hollywood Reporter, Gary Busey suffered a major head injury in a motorcycle accident that year. His son Jake Busey told the outlet:

“The post-accident version of him turned his personality up to 11. I feel like I lost my dad on December 4, 1988.”

He added:

“The fact that there’s an entire generation of people who don’t know the man he was before the accident — this incredibly talented actor, this force of nature — it’s just hard.”

In his interview with The Guardian, Busey said:

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“About 25 years ago, I had an accident on a Harley-Davidson. I went off the bike without a helmet, hit my head into a [curb], split my skull, passed away after brain surgery, and went to the other side.”

Post his accident, Gary Busey dealt with drug addiction and unusual public behavior. The accident took a toll on his career, affecting his professional life.

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