Celebrity Apprentice, Gary Busey

Virginia Sherwood/NBC

Well, how was Gary Busey supposed to know that 300 VHS tapes and five pairs of old moccasins wouldn't be worth their weight in gold one day?!

In bankruptcy documents newly obtained by E! News that detail the onetime Oscar winner's assets and liabilities, Busey's legal camp seems to list pretty much everything the man has amassed over his 67 years.

Let's just say, the recent Celebrity Apprentice standout probably won't be booking an In Style home feature anytime soon.

Among his more normal-sounding possessions, ranging from a dining room table to clothes to his coffee maker, the documents also list a heady assortment of...well, the stuff your parents/spouse/kids et al. are probably always nagging you to get rid of.

Valued at $1,000—and in addition to books, CDs and DVDs—are the 300 VHS tapes, 200 cassette tapes, a handful of acrylic and oil paintings, an "old bulls head," those five pairs of "old moccasins," two small decorative tepees, four clay vases, three Indian-style bowls (it appears he means American Indian), a small figurine of a bald eagle and old bows and arrows.

Busey values his clothes and shoes at $2,000, but accessories, such as a fabric strap with an eagle's talon and a bolero necklace with a yin-yang pendant, add up to a mere $150.

Coming in at $3,000—more than his $1,800 worth of furniture and everyday household items, mind you—is the real treasure trove: a broken pellet gun, rollerblades, two old surfboards, a boogie board, an old mountain bike, an old Nikon film camera, a Fender Stratocaster electric guitar, a nondescript electric guitar, three acoustic guitars (including a Gibson), an amplifier and two tambourines.

Alas, his listed life insurance police and his company, Rising Star Inc., have no value at this time and are listed at $0.00.

Busey's monthly income is listed as $19,730 from various residuals and other artistic income—but his expenses amount to $22,669.79 a month, including daycare and asthma medication for his young son. His assets total $26,225 and he owes $508,600.96 in various debts, most of it back taxes and government debt in the form of $451,297.33.

The quirky performer's rep tells E! News:

"Gary Busey is following the example of many successful buisiness people such as Abraham Lincoln, Walt DisneyDonald Trump, Francis Ford Coppola, Larry King, and many more Americans who have also utilized the tool of Bankruptcy to gain a fresh start. Remember, the Buseyism for FAILING is: Finding An Important Lesson Inviting Needed Growth."

—Reporting by Baker Machado

  • Share
  • Tweet
  • Share

We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. By using the site, you consent to these cookies. For more information on cookies including how to manage your consent visit our Cookie Policy.