Best known for his roles in movies such as “National Treasure” and “Leaving Las Vegas,” Nicolas Cage was once a top earner in Hollywood, worth $150 million. But Cage didn’t hold on to his fortune for long. He squandered it away on a string of expensive and often eccentric purchases, eventually facing foreclosure on several properties and owing the IRS $6.3 million in property taxes. Now worth around $25 million, Cage is taking roles left and right to help pay off his debts. As chronicled in CNBC’s “The Filthy Rich Guide,” here’s a glimpse at some of Cage’s craziest purchases.
Real Estate Investments
Cage once owned 15 residences, including a $25 million waterfront home in Newport Beach, California, a $15.7 million countryside estate in Newport, Rhode Island, and an $8.5 million abode in Las Vegas. He also purchased the infamous LaLaurie mansion in New Orleans for $3.4 million, known as one of the most haunted houses in America. In Europe, Cage bought two castles for $10 million and $2.3 million, respectively. He even bought a deserted island in the Bahamas for $3 million.
Cage’s spending spree didn’t stop at real estate. He blew $450,000 on the late shah of Iran’s Lamborghini and another $150,000 on a pet octopus. He also spent $150,000 on the first Superman comic, “Action Comics No. 1.” Cage allegedly outbid Leonardo DiCaprio for a 70-million-year-old dinosaur skull, but it turned out to be stolen, and he had to return it to the Mongolian government.
Financial Problems and Recovery
In 2009, Cage owed the IRS and creditors $14 million, after suing his former business manager for leading him “down a path toward financial ruin.” He fell into $6 million in debt due to bad investments and the housing crisis. Cage moved to Las Vegas, a tax-free state, and started making three to four movies a year to pay off his debts. He eventually paid off his debts, but it took a toll on his finances.
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.
Frequently Asked Questions (FAQs)
What is Nicolas Cage’s net worth and salary?
Nicolas Cage is an American actor who has a net worth of $25 million. Cage’s net worth was once much higher, easily over $100 million, after earning at least $200 million from movie salaries alone. However, his extravagant spending habits and financial problems diminished his net worth over the years.
What were some of Nicolas Cage’s craziest purchases?
Nicolas Cage made a series of eccentric purchases, including multiple luxury residences, two castles in Europe, a haunted mansion in New Orleans, a deserted island in the Bahamas, a Lamborghini owned by the late shah of Iran, a pet octopus, a 70-million-year-old dinosaur skull (later returned due to theft), and the first Superman comic, “Action Comics No. 1.”
How did Nicolas Cage recover from his financial problems?
Nicolas Cage recovered from his financial problems by moving to Las Vegas, a tax-free state, and taking on multiple movie roles. He worked tirelessly, making three to four movies a year, to pay off his debts. Cage eventually paid off his debts, but his net worth never bounced back to its previous heights.
What is Nicolas Cage’s current financial situation?
As of now, Nicolas Cage’s net worth is estimated to be around $25 million. He has paid off his debts but continues to work in the film industry to maintain his financial stability. Cage has been more selective with his roles and is focused on rebuilding his career.