Nicolas Cage Broke and Bankrupt?

Rumor has it actor Nicolas Cage is broke and bankrupt, owing millions in debt. Truth is, Cage isn’t broke and probably isn’t about to declare bankruptcy, but he is in some serious financial trouble.


According to reports, two of the actor’s homes will be going on the auction block in New Orleans. Nicolas Cage reportedly owes over $5 million in unpaid mortgage debt on the two properties. Cage will also reportedly be selling his grand estate in Southern Nevada near Las Vegas and several other properties. Even worse, Nicolas Cage allegedly owes over $6 million in back taxes to the IRS all the way back to 2002.

Cage claims his former business manager, Samuel Levin, led him “down a path toward financial ruin.” The Academy Award winning actor is currently suing Levin over the alleged financial mismanagement.

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“Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses,” the lawsuit states. “He is now forced to sell major assets and investments at a significant loss and is faced with huge tax liabilities because of Levin’s incompetence, misrepresentations and recklessness.”

Cage reportedly has a net worth of $38 million according to Forbes magazine and earned $40 million between June, 2008 and June, 2009. Just goes to show being rich and famous doesn’t mean you can’t be an idiot with money.

>> Previously: Facebook Wins $711 Million Verdict Against Spam King Sanford Wallace

10 thoughts on “Nicolas Cage Broke and Bankrupt?”

  1. I feel bad for Nicolas and sorry that he was led down the wrong path! he should have known better and watched every cent like a hawk!

    Now that he is broke and bankrupt maybe he will date me!

  2. I feel bad for him that his dad died a couple of weeks ago. But he can do without the castle in England and the two multi-million dollar homes in New Orleans. Can’t he ask uncle Francis Ford Coppola, aunt Talia Shire, or cousin Jason Schwartzman for a loan? Money is all relative.

  3. I guess he will have to have the ex wife pimp his kid to her new boy toy the lead singer of Dimmu Borgir( Shagrath) LOL

  4. HE ISN’T FRIGGIN’ BROKE! He’s just financially unstable. He’ll be right back on track soon enough.

    If he’s worth 38mil and earned 40mil, shouldn’t that mean that he has close to 80mil (if he sells assets)? 9mil in debt shouldn’t be too hard to accomplish, he won’t file for bankrupsy…

  5. How many people need more than 1, maybe 2, houses, seriously….you can’t be in more than one place at a time, its stupid. I can see having a summer home and a regular residence. How can you piss away 40 million dollars, and on top of that, the rest of the money he made from before. Must be all the hookers

  6. I can’t feel sorry for him at all. I don’t feel sorry for filthy rich people who have to much money on their hands and manage to mess it up for themselves while so many people are out of jobs and are wishing for money. He’s not exactly broke. He has many assets. He brought all of this on himself. I really thought he had more money than they say he has since his family was wealthy even before he got into acting. He had all of that money and he squandered it on superficial things that probably with sell for far less than what he bought them for now. He’s made alot of money from his movie roles and family inheritance.

    I assume he was banking on future movie roles to cover the expenses. His movies are doing as good as they used to. I read on another site that he has over 30 cars, 15 multi-million dollar homes all over the world, millions of dollars in art, his own island, 8 yachts, a private jet, plus more. It’s ridiculous and so unnecessary! Why does he need all of that? I wish I had millions of dollars.

  7. What I find most interesting, this Hollywood liberal loser is currently in Mombassa, Kenya visiting prisons with Somali Pirates. Why? Because Mr. Cage is concerned for their well-being.. Get a life loser…He is bankrupt, but he is now in Africa worried about thiefs that are in a prison because they got caught stealing millions from ships off the Somali coast. Doesn’t this level of Hollywood liberalism turn your stomach? I would hope his dumba$s would stay with these prisoners and never come back. Plus his movies suck…

  8. Nichlas cage has always been a talentless turd from the Sly Stallone school of acting: Look stupid, have your lower lip droop to your neck, and star in crap films.

    I don’t care if he is destitute, if his girlfriend sues him for $13million, if he never gets a dime back from his accountant, if his dad died, or his entire family dies. This mindless jerkwad deserves everything that happens to him.

    Oh…and happy holidays to all. 🙂

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