The legendary actor died on Thursday at Jupiter Medical in Florida, the state where he had spent most of his life. Several outlets have since reported that the actor was worth around $5 million at the time of his death.
Despite his success on the big screen, Reynolds began to lose his money in 1993 after divorcing his second wife, Loni Anderson. The actor told Vanity Fair in Dec. 2015 that he had been careless with his money in his life.
“I’ve lost more money than is possible because I just haven’t watched it,” he said. “I’ve still done well in terms of owning property and things like that. But I haven’t been somebody who’s been smart about his money. There are a couple of actors who are quite brilliant with the way they’ve handled their money. But they’re not very good actors.”
According to Vanity Fair, his real-estate portfolio at one point included a 153-acre ranch in Jupiter, Florida, a spread in Arkansas, mansions in Beverly Hills and Malibu, an estate in Georgia, and a mountaintop retreat in the Smokies of North Carolina.
Three years after his divorce from Anderson, Reynolds filed for bankruptcy, claiming $6.65 million in assets and debts totaling $11.2 million, according to Vanity Fair.
The ranch, which was dubbed Burt Reynolds Ranch and hosted filming for movies like B.L. Stryker, Smokey the Bandit II and Striptease, was sold to the Palm Beach County School District in 1999 for $3.8 million. It opened as an upscale neighborhood in 2017, with homes going for over $1 million.
“I trusted the wrong people with my money,” Reynolds told Vanity Fair,adding that the thing that cost him the most was “women.”