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The Academy Award-winning actor known for his eclectic roles and quirky personality faces financial ruin due to his impulsive spending and poor investment decisions.
Born in 1964 in Long Beach, California, Nicolas Cage is the nephew of legendary director Francis Ford Coppola. He changed his last name to avoid nepotism accusations and began his acting career in the early 1980s.
Cage's career flourished, and he became one of Hollywood's highest-paid actors. His wealth allowed him to indulge in eccentric purchases, such as ultra-rare comic books, exotic animals, and haunted houses.
Cage's spending got out of hand, and he faced financial troubles that were compounded by bad investments, $6.3 million in IRS tax bills, and debts to other creditors. He was forced to sell many prized possessions, including a castle in Germany and a private island in the Bahamas.
Nicolas Cage continued to act in films, taking on less prestigious roles to repay his enormous debts. His work ethic and dedication to his craft helped him maintain a steady income and slowly rebuild his finances.
Today, Nicolas Cage is still active on-screen and managed to pay off all his debts in 2020 by doing straight-to-VOD action movies. While Cage no longer has his one-time $150 million fortune, he does boast a healthy net worth estimated at around $25 million.