Do you think a celebrity who turns down a multi-million dollar deal solely because the organization doesn't allow him smoking weed is a reckless financial decision?
Keep in mind this definition of reckless financial decision - It entails when a person makes choices that involve significant financial risk or lack of consideration for the potential consequences.
What other reckless financial decision do you know or have heard of?
Well, accepting a deal that has long-term negative consequences down the road could be more reckless than actually accepting the deal. I don't know what celebrity you are talking about, but when you take Snoop Dog as an example, I think any deal that forbids him to smoke weed would probably harm him more than it would do him good financially. If these guys are active in the cannabis industry, their lifestyle is part of their marketing agenda. What good would it be to sign a multi-million dollar deal with whatever brand that has nothing or not much to do with the agenda that these celebrities are pushing otherwise?
I think it is all about the balance between the cons and pros and without knowing which celebrity you are talking about, it is hardly possible to give a more specified opinion on the topic. You could look at this from all angles anyway.
Reckless financial decisions that I remember from the top of my head is something like Ronald Wayne selling his 10% equity share in Apple for a total of $2300 in 1976/1977.
Or Steve Ballmer who refused to look into smartphones when he was still Microsoft CEO.
You could argue that Elon Musk buying Twitter for over $40 billion paid way too much. But since it serves his agenda, he might not have cared about paying a premium.