Nicolas Cage Admits His Net Worth Took a Hit After 'Overinvesting' Put Him $6 Million in Debt: 'It Was Dark'During a "60 Minutes" interview, the actor admitted that his on-screen work kept him out of a financial hole.
Nicolas Cage admitted that his continued interest in acting isn't just for fun.
The "Face Off" actor revealed on "60 Minutes" that his Hollywood roles have kept him afloat after he fell into $6 million in debt following some bad investments.
"I was overinvested in real estate. ... The real estate market crashed, and I couldn't get out in time," he said about the years of the housing crisis in thelate 2000s.
In 2009, Cage ended up owing the IRS and creditors $14 million, according toABC News, after he sued his former business manager for allegedly leading him "down a path toward financial ruin," he toldGQin 2022.Despite reportedly owing $14 million, Cage told "60 Minutes" that he "paid them all back, but it was about $6 million. I never filed for bankruptcy."
Cage told "60 Minutes" he moved to Las Vegas in the midst of his financial woesin 2006which is notably tax-free, and started making three to four movies a year.
"It was dark, sure," he said of his days to get back in good financial standing but said there was "no doubt" that acting helped him in his darkest times.
"Work was always my guardian angel. It may not have been blue chip, but it was still work," he said. "Even if the movie ultimately is crummy, they know I'm not phoning it in, that I care every time."
According toCNBC, the actor once owned 15 multi-million-dollar properties around the world. He also purchased a 70-million-year-old dinosaur skull for $276,000, that later had to be returned after it was discovered to have been stolen.
Bustlereported that Cage had once owned 50 cars, including a $450,000 Lamborghini that was custom-made for the Shah of Iran. He also reportedly paid $150,000 for a pet octopus, and he owns a pyramid tomb he hopes to be buried in.
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In 2019, Cage told theNew York Timeshis finances play a big role in his continuous work efforts.
"Money is a factor. I'm going to be completely direct about that. There's no reason not to be," he said. "There are times when it's more of a factor than not."
What Is Nicolas Cage's Net Worth Today?
Although Nicolas Cage's fortune was once estimated to be around $100 million, the actor's net worth is estimated to be around $25 million today, according to CNBC.
