Actor Nicolas Cage recently opened up about his struggle to repay a $6 million debt incurred due to the real estate market crash.
Despite reports of him blowing through his $150 million fortune and owing the IRS $6.3 million in property taxes, Cage emphasizes that he never filed for bankruptcy. The 59-year-old actor credits work as his “guardian angel” during this dark period in his life, taking on any roles he could to pay off his debt.
Cage, who was heavily invested in real estate, found himself unable to exit the market in time when it crashed, resulting in a massive debt.
In an interview with CBS’ ’60 Minutes’, he shared that he paid back the entire amount without resorting to bankruptcy. As a result, Cage accepted various acting roles, even those in critically panned films, to ensure that he could make repayments.
The ‘Renfield’ actor defends his choice to appear in these films by explaining that, even if the movies were poorly received, he always put in the effort and cared about his performance.
In a 2022 interview with GQ, Cage revealed that he never “phoned it in” when working on a project, always striving to find something in each role to give his best.
In August 2019, Nicolas Cage candidly addressed his financial situation in an interview with The New York Times Magazine. He openly discussed the financial motivation behind his decision to take on back-to-back acting jobs, admitting that money played a significant role in his choices.
Cage acknowledged the impact of past financial mistakes, including his over-investment in real estate, which led to the $6 million debt he had to repay.
Cage revealed that while money was a driving factor in accepting numerous acting roles, he still sought to deliver engaging and entertaining performances for his audience. He remained committed to his craft, ensuring that he could contribute something valuable to each project, regardless of the film’s overall success.
Despite the difficulties he encountered, Cage was adamant that filing for bankruptcy was never an option.