2. Nicolas Cage’s Bankruptcy
Did you also know that he has gone through a rather nasty public bankruptcy?
It was so bad, in fact, that it had fans and detractors alike asking how one of Hollywood’s highest paid actors (estimates of $40 million in 2009) could find himself in such a desperate financial situation.
According to Cage, he was duped by his business manager. Cage claims that his manager misappropriated Cage’s earnings to invest in real estate, and that that alone is what led to his bankruptcy.
His manager, however, has filed a counter-complaint against Cage’s claim. The manager says that he tried to warn Cage that he was living beyond his means and says that he told the actor that he needed to decrease his spending. So which version is the truth?
An inventory of Cage’s belongings shows that he once owned as many as 12 separate residences, 9 Rolls Royces, 47 expensive works of art, and even an exotic dinosaur skull. In addition to all of his spending, Cage was pursued by the IRS in 2009 for failure to pay over $6.2 million in federal income tax. It would seem, then, that the business manager is telling the truth.
Whatever the case may be, his financial difficulties may help to explain why Cage has jumped at any movie deal he is offered, even those that are less than stellar. He has debts to pay.