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Nicolas Cage is Broke

August 2, 2009
Kelly
Nicolas Cage
66 Comments

Nicolas Cage is Broker than Every Swimming Record that's Ever Met Up with Michael Phelps

Nicolas Cage owes $6.2 Million in back taxes to the IRS.

The tax lien stems from unpaid income taxes for 2007. Months ago, the star settled another debt with the IRS, paying $666,000 in penalties for improperly deducted personal expenses. Cage’s $3.5 Million New Orleans mansion is currently up for sale, as is his $35 Million Hollywood home. All sure signs that the actor is flat broke and is trying to dig himself out of a massive hole of debt.

At first I felt kind of bad for him, but then I came to my senses and realized that’s ridiculous. Poor impoverished movie star. He might have to move to a mansion that’s only worth $1 Million, or start drinking coffee that hasn’t first been passed through the bowels of a civet cat.

It’s always been a mystery to me how actors and actresses could make millions and still end up penniless. I guess it just goes to show you that it doesn’t really matter how much money you make if you’re living above your means.

66 CommentsLeave a comment

  • What does he spend his money on??? Does he have a car collection? It seems like anything he would spend his money on would be an asset and he could still be wealthy if he sold them. Unless he has a gambling problem or something like that.

    • what the heck do you kniw sure i betcha didnt know he was kin to the film maker capola frank well i sure say this hes a good guy and everybody gets rock bottem ever now and then sure i bet you just thought rich people didnt have problems seems to me thats probly why you struggle mmmmmmmmm part time job huh mmmmmmm could the part time job be in bed with your thighs open

  • Yeah, I’m not overly sympathetic either. Tomorrow is a holiday in my province but I work in a different province that doesn’t observe that holiday so I have to go to work. That’s real suffering. Deciding which Porsche to keep and which Jag to sell is not suffering. Working on a stat holiday is.

  • How the F could he be in that much trouble? He is related for Francis Ford Coppola and a smackload of other famous/wealthy people. Are you telling me that none of them are willing to help him get out of debt or at least cast him in a new movie role…

    • That’s what boggles my mind…he’s had several movie roles recently! It’s not like he’s one of those actors who got used to living a certain way, then didn’t work for a long time and spent all the money he had earned in the past. This dude is still earning – it seems like a new Nicolas Cage movie comes out every month! WTF???

    • There you go, he’s related to Francis Ford Coppola who also blew millions on his studio and ended up broke for a very long time until he decided to make wine.

      You have to wonder what these guys have agents for, either they rob you blind or let you spend yourself blind.

      No pity for this dude, he’s been paid way too much per pic to have screwed the pooch this badly.

      • IT DOES NOT MATTER HOW MANY MOVIES HE HAS MADE. HE IS IN GREAT DEMAND, AND AS FAR AS WHO HE IS RELATED TO, WHAT BUSINESS IS THAT OF YOURS.

    • Relatives should not help him. He spends money like a drunken sailor. What he gets paid for making a movie is more than most make in a lifetime. Screw him, I pray he goes down in flames.

  • Poor low-income people who can’t spend their money wisely just become poor high-income people when luck strikes. They just need to learn money spending 101.

  • Also, he totally deserves his broke ass. I watched The Rock a couple days ago with him in it and it was SO bad, and I’m not talking about sort of lame like Intolerable Cruelty was which I watched right afterwards with George Clooney who terribly disappointed, but I’m talking IT SUCKED SOOO BAD. I wish I could get my 2 hours of life back. I was hoping Sean Connery would bring his special touch and make it better even if all else sucked but even his role was badly written and couldn’t save the movie. The actor who’s Dr. Cox on Scrubs made a tiny appearance but it was not enough. It was probably one of the worst movies I’ve seen, along with 4 Christmases with VV. I’m pretty angry at Cage for wasting 2 hours of my life on a crappy movie, so I don’t feel so bad for him. He probably shouldn’t have gotten paid in the first place.

  • I seriously doubt that he is broke, but now I understand why he is selling off some of his property!

    • I doubt he is broke too… I am getting a wiff of bullshit with this story.

      I am curious if this is his way to set up a future divorce filing… and being able to claim he has no money. So the cost of getting rid of the child bride won’t be as painful… financially speaking.

      The gossip was his 20 or is it 22 year old wife… was spending outrageous amounts of cash monthly.

      So I am more inclined to believe there is more to this story than him owning 6 million to the IRS. I find it hard to believe he doesn’t have that kind of cash in a off shore bank and could simply write a check for it.

      • Here’s all the houses he owns:

        * New Orleans, Louisiana: A home in the Garden District.

        * Newport Beach, California: A $25 million home on the waterfront purchased in 2005.

        * Los Angeles, California: It is now listed at $35 million. The home in Bel-Air, previously owned by Dean Martin and then Tom Jones, is a 11,000 square-foot Tudor-style home situated on one acre. Along with a two-bedroom guest house, the home has seven bedrooms, seven bathrooms, a theater, a game room, a wine cellar, and an Olympic-sized swimming pool.

        * San Francisco, California: The home has a limestone dragon fireplace designed by Manuel Palos.

        * Bath, England: Midford Castle, purchased in July 2007.

        * Paradise Island, Bahamas: A home.

        * Exuma archipelago in the southern Bahamas: A small undeveloped island in the Bahamas valued at approximately $3 million. Purchased in May, 2006, the island’s size is estimated to be 40+ acres.
        source:

  • So many celebs have fallen victim to poor financial management by people they trust. Many people, not just celebrities, have a hard time managing money. Whether you make $50,000 per year or millions, you can fall victim to tax problems, overspending, people taking advantage of you, etc. It is just a shame that the situation wasn’t caught before it got out of hand.

    Quite a few have had this happen in their careers, billy joel, barry manilow and others have had problems with financial management and come back stronger.

    LOL about the divorce theory. Now would be the perfect time to divorce if that is on the horizon because he would have nothing to give, you can’t get blood from a stone!

  • Maybe he was a victim of the Madoff ponzi scheme???
    Maybe not, but I never shed a tear over the “rich” sports stars, movie stars, singing stars when they lose the money that they get foolishly.

    I just pray I had the chance to do the same thing! :)
    Cause you know they had fun blowing it all away…

  • He owns VERY very rare comic books, paintings and the finer paraphernalia of famous celebs and classic cars., His uncle is Frances Ford Coopola so I really doubt he is ever gonna be poor., this is more of a money shift, stall and wait, take a loss for less taxes barter/gain arrangement by his lawyers. The rich are crying poor, declaring loses, dumping assets to other friends.. while hiding and concealing their ready money from the ‘TAX the rich!’ pols in office

  • Am I the only one who is slightly weirded out by the fact that his face, in the photo, looks perfectly normal and age appropriate? Every film I’ve seen with him in it for the last… I dunno… five years or so he looks increasingly freakish and alien like, and I was just assuming ‘bad plastic surgery’ or something.

    Now I’m thinking it must be ‘bad makeup artists’…

    And that just ain’t right.

  • Rich people don’t usually become totally broke. They hide money so well you’d have better luck finding Jimmy Hoffa.
    Poor Nick. No wonder he’s desperately trying to get Ghost Rider II made.

  • Typical democrat..wants everybodys money to be spread around but his. He donated thousands to the DNC but will not pay his tax bill

  • If you check the internet, Nick Cage owns several castles in several countries.

    He’s not penniless; he just needs a better accountant.

  • Screw Cage, he’s loaded with money. He spends/spent millions in foreign countries buying castles and all the crap that goes with them. I hope the IRS rips him a new asshole. He’ll make one movie and get $15-20 million. I hate all the Hollyweirds because they really don’t like their fans. They are all phony pieces of shit with very few exceptions.

  • I serious doubt that he is as broke as the average people. majority of average people make barely enough to pay the mortage or rent and other daily expense. Some are living from pay check to paycheck.
    I am sure that all his houses are paid for in full and they are worth close to 100 millions, so 6.2 million is only spare change. His definition of broke is he could not afford to buy another 50 million home or castle at this minute.

  • If you make 20mil on a film, you end up with about 8mil after taxes, agents fees, business managers, publicist ect.
    If you take that 8mil and use it as down payments on a bunch of 10mil+ homes you have just leveraged yourself to the max. Now add a housing-bubble-crash and you are upside-down and bankrupt.
    When you are a millionaire and spend like a billionaire it will catch up with you. Money does not buy intelligence.

  • It seems amazing to me that Nicolas Cage is facing this tax bill right now. Firstly because its his second time in trouble with them in less than a year, you’d think he’d learn the lesson the first time….Don’t mess with the IRS.

    Secondly, the guy makes $12 million per film, you’d think he could easily come up with the $6 million and change to satisfy the IRS. Could there be problems we don’t know about. Drugs? Gambling? Madoff?

    Check out my blog on Nick Cage and his IRS problems at….. http://www.thedebtgazette.com/2009/08/nick-cage-irs-again/

  • You people leave this guy alone! The stress to take care of that much money is time consuming, that’s why they hire managers. He got screwed, he didn’t know he owed taxes if he did he would’ve paid them. Look at Wesley Snipes he didn’t know nothing and he is in jail thanks to his manager. Nic just didn’t know, I don’t know him personally (would like to) but he doesn’t seem like the kind of person that screws uncle sam. His movies doesn’t suck by the way, 95% of them were blockbusters. If you have anything to say to this post, email me at beasleybadboy@yahoo.com and we’ll talk, if not then stop talking crap!

  • Stop beating a dead horse. Who cares that he’s broke. He’ll make a bomb movie that really sux and he’ll be back in the chips.

  • A note to Merc. You talk about wasting 2 hrs of your time. Since when is your time so valuable. How much of it did you waste writing the nonsense you wrote. People like you slay me. Actually you’r be laughable if you didn’t sound so shallow

  • What a dumb A!! Fire your accountants Nick! Take control of your checkbook and finances. Sell the homes and buy one regular size home and live below your means (save more than you spend!). Give 10% to charity and the rewards will be twofold with new movie offers and a good life and funds for your retirement when your face is no longer wanted for movies….gotta save for the future dummy!

  • Looks like he needs to look for more National Treasure. Obviously the movie taught him to spend and not save.

  • It’s bewildering that a man that makes what, $20 million a picture, could be flat broke. Oh, and I’d just like to say I loooove Dave Matthews Band!

  • RE: Oh, and I’d just like to say I loooove Dave Matthews Band!

    Bet you wouldn’t like to be under the overpass when his bus drives overhead and dumps their toilet tanks.

  • I read all of your OPINIONS, Guess none of you are old enough to make any serious money or have ever been audited and own to the IRS. their interest is compounded daily! to all of you who are so quick to condemn……get out your little calculators and do some math.

  • You guessed wrong Onetimetraveler. I’m probably older than you and did make serious money [I’m retired now]. I have been audited by IRS and won my case. Yes, I condemn Cage; he’s a tax cheat, a big spender and will never be broke. Screw him and most of the HollyWeirds, no sympathy from me. Ed Mcmahon was another piece of shit who deserved what he got.

  • It was not Nicolas Cages fault for the money woes he is in,He was robbed by a cheat of a financial adviser who spent more of cages money then Cage did,If anything he is responsible for not being able to handle his own money and putting his trust in some butthole that took advantage of this fact.He will pull himself out of this and in the long run when the lawsuit is settled with the man that robbed him he will still be in debt and he will get a big chunk of his money back.Then maybe he will learn not to trust anybody with his hard earned money other then his self

  • Poor guy.. what happens to all those hospitals, orphanages, college trusts, and job training centers he built? Hmmm? Bottom line: this guy is totally out of touch with reality

  • THE MAN IS STILL WONDERFUL AND IT IS NOT FAIR WHAT HAS HAPPEN TO HIM. JUST BECAUSE HE HAS WHAT IT TAKES AND THEN SOME THAT IS NO REASON TO TAKE IT. HE IS THE MOST BEST AND SEXEST MAN KNOWN TO WOMAN. IT IS NOT FAIR JUST BECAUSE HE HAS IT, DONT TAKE IT. HE HAS EARNED HIS RIGHT IN SOCIALITY. JEALOUSE WILL ONLY MAKE FOR YOU A BAD DEAL

  • SCREW NICK. I’M GLAD HE IS BROKE. IN FACT I AM IN THE PROCESS OF CELEBRATING HIS MISFORTUNES. HE’S GONNA HAVE TO LOSE ABOUT 50 CARS AND 15 HOMES AND THEN BUY HIMSELF A COSY SHACK IN EAST LA. I DO NOT HAVE ANY SYMPATHY FOR A GUY WHO OWNS 15 HOUSES WHILE KIDS ARE DYING OF STARVATION EACH AND EVERY DAY. ALL I CAN HOPE FOR NOW IS THAT THE PRODUCERS IN HOLLYWOOD TAKE ADVANTAGE OF CAGES FINANCIAL WOES AND LOW BALL HIS ASS ON THE NEXT FILM. THEY SHOULD FORCE HIM TO DO FILMS FOR 5 MILLION A PIECE KNOWING THAT CAGE IS DESPERATE ENOUGH TO TAKE WHATEVER ROLES HE CAN GET. HA HA HA…GET READY FOR THE FOOD STAMP LINE, THE HOMELESS SHELTER, AND A NICE TRIP TO THE SOUP KITCHEN IN LONG BEACH. IS THERE A HOMELESS SHELTER IN HOLLYWOOD FOR WASHED UP CELEBRITIES?

  • I can understand how Nick Cage lost his money. He trusted someone he should not have trusted. It happens a lot and the really bad financial managers give everyone else a bad rep by their thefts, especially the high profile thefts, and it seems to happen a lot in Hollywood! It figures, the huge money attracts the most thieves. The only thing that I have found that works is to prosecute the thief and take everything they have in hopes that you might recoup some of the lost monies. Still, you always end up feeling like a jerk, and it’s worse when you actually owe the IRS money too.

  • The Village Idiots are roaming the Earth feeling sorry for a POS like Nick the Dick Cage. No one should have any sympathy for him, he did it to himself. His lifestyle HAS NOT changed 1 iota. Whether or not you think he’s sexy & good looking, he’s still a Perfect Asshole. Kevin Bacon & wife Kyra Sedgwick lost millions with Bernie Madoff et al and not a word about it. They took they beating gracefully, not like Nick Scumbag Cage. He belongs in the Circus biting off live chicken heads.

  • It does not matter whom he is related to, its not his. I have well to do family members, but I am struggling to make it. I do not care what people say, the man is GREAT. He trusted his money in what he thought was a responsable person. Boy ,,,, was he wrong. Get off the man’s back. Just because he is a good actor and a heck of a nice looking man, do not hold that against him. Keep tring Mr. Cage, you will come back and come back strong
    Kelly in Sylvania Ga

  • Kelly, wake up and smell the coffee. Nick the Dick Cage is just plain Stupid. Many people have financial advisers, the key word is advisers and they do not run the money. Nick the Dick Cage didn’t take the time to look after his money. He deserves to go down in Flames.

  • Your all IDIOTS for wasting your time worrying about someone else.
    That’s why there are more celebrity IDIOTS.