徒 (tú): In this context, this character means “only,” “merely,” or “in vain.” It implies that the only thing present is the fame, and nothing else.
有 (yǒu): A very common character meaning “to have” or “to possess.”
虚 (xū): This means “empty,” “hollow,” “false,” or “unreal.” It's the core of the negative meaning.
名 (míng): This means “name,” “fame,” or “reputation.”
When you combine them, 徒 (only) + 有 (have) + 虚 (empty) + 名 (name), the literal translation is “to only have an empty name.” This paints a clear picture of a reputation with no substance behind it.