20 Mar How Nicolas Cage Ended Up With $14 million in Taxes
You’ve undoubtedly heard about Nicolas Cage and his, let’s say, unique way of acting. Some adore his eccentricities, some feel like something might be wrong with the guy, but whatever the case may be, he’s certainly a fascinating person.
With that in mind, did you know that he wound up owing some 14 million dollars to the IRS?
So how did Nic Cage do it? It’s simple, he blew through $150 million and went broke in only a few years. Let’s see how all of that came to be.
How He Earned His Riches
We all know that he is an Oscar-winning actor who became known to wider audiences through a host of successful movies from 1996 onwards.
As of that year, all the way until 2011, he earned around $150 million. He made $40 million just in 2009!
Earning that much money from acting during that time was next to impossible, and he quickly gained the spot among some of the highest-paid actors of all time.
As he started earning more and more, it made his spending habits bigger and bigger. However, his spending habits became more than merely insane; he could put to shame some of the biggest spenders of all time.
How He Spent the Money
By now, you are probably very interested in knowing how he managed to spend all of that money. Well, let’s take a look at some of the strangest and most insane things he ended up buying at some point in his life.
- You can’t be a person who spends a lot of money on expensive things unless you buy a yacht. Nicolas Cage bought four.
- Everyone wants to have a private island. Cage worked for that dream, and he bought an island in the Bahamas for $7 million.
- Some people like having pets. However, we doubt that some consider cobras as pets. Yes, Cage bought two albino king cobras. He also had a pet crocodile, a shark, and an octopus.
- He bought a dinosaur skull for $300,000. He outbid Leonardo DiCaprio for it. Of course, he did, as he is reported to have had more dinosaur skulls as well.
- In 1997 Cage decided to buy a Lamborghini from the Shah of Iran. He spent almost half a million dollars for it. Well, he had to work towards creating a fleet of vessels that he was reported of having in 2004. Oh and that fleet supposedly had a total of 50 cars and 30 motorcycles.
- Every rich person has to have a mansion. Nicolas Cage bought some 15 estates around the world, a few of which cost more than $10 million. He also bought two castles in Europe and a famous haunted house in New Orleans.
What Happened in the End?
You are probably thinking how all of that cost a lot more than he had and could afford to own. You’re right. He had to foreclose on many of his properties, ended up having a legal battle with his money manager, and let’s not forget the $14 million in taxes.
He is still struggling to repay all of his debts, so it’s no wonder he keeps on starring in any movie he can get his hands on.