A portmanteau of the words schizophrenic (somewhat of a misnomer often confused with multiple personality disorder...oh well, close enough!) and celebrity; a celebrity who changes their name on a regular basis or may be known by more than one name at a time, hence leading people to believe that they have multiple personalities. Most celebrities that do this typically have no talent otherwise and want to keep getting media attention.
Examples of a schizolebrity:
"Talented" rapper Sean Combs aka 'Puff Daddy' aka 'P. Diddy' aka 'Diddy'
Another "talented" "rapper" Dwayne Michael Carter, Jr. aka 'Lil Wayne' aka 'Weezy' aka 'Lil Tunechi'
"Talented" football player Chad Johnson aka 'Ocho Cinco' (with space) aka 'Chad Ochocinco' (no space)...now wants to be referred to as just Chad Johnson, or his real name, again!