Nicolas Cage needs a National Treasure of his own because it's been reported that he's broke. Cage is liquidating his homes in light of the government placing a tax lien on his real-estate holdings. With $6 million in unpaid taxes dating from 2007, more than $350,000 in unpaid taxes dating from 2002 to 2004 and a default on a $2 million load, Cage is seemingly buried in debt.
Nicolas Cage facing possible bankruptcy, and at the very least being broke, is a bit of a surprise. Cage is one of Hollywood's highest paid actors and now finds himself $6.3 million in back taxes and deep financial debt. Cage blames his former manager,Samuel Levin, for making his financial situation a mess.
In a lawsuit filed Oct. 16 in Los Angeles, the National Treasure star, 45, claims that his longtime business manager, Samuel J. Levin, "lined his [own] pockets with several million dollars in business management fees while sending Cage down a path toward financial ruin."
According to the suit filed in California state court, Cage's Manager Samuel Levin’s alleged failure to pay the actor’s taxes, combined with poor investment decisions, sent Cage “down a path toward financial ruin.” Actor Nicolas Cage is seeking $20 million in damages, claiming professional negligence and breach of contract.
Nicolas Cage has appeared in over 60 films including Face/Off , Ghost Rider , and National Treasure. Cage has married three times, once to Patricia Arquette, then to Lisa Marie Presley, and most recently to his current wife Alice Kim Cage.
Cage's earnings have been huge during his successful career in the movie industry. It's hard to imagine that this highly paid movie actor is close to being broke. A sampling of his earnings on some of his more popular movies shows that his earning power was excellent. He claims mis-management of his funds by his former manager, but that's still to be played out in court.
National Treasure (2004) $20 million
Adaptation. (2002) $2,000,000
Windtalkers (2002) $20,000,000
Captain Corelli's Mandolin (2001) $7,000,000
Gone in Sixty Seconds (2000) $20,000,000
Bringing Out the Dead (1999) $1,000,000
Snake Eyes (1998) $16,000,000
Face/Off (1997) $6,000,000
The Rock (1996) $4,000,000
Leaving Las Vegas (1995) $240,000
Vampire's Kiss (1988) $40,000
Cage's most recent movies include:
Astro Boy Oct. 23, 2009
G-Force Jul. 24, 2009
Knowing Mar. 20, 2009
Bangkok Dangerous Sep. 5, 2008
It's been reported that Nicolas Cage earns as much as $20 million per film, so this seems like more than enough to cover his debt and keep him from going broke. Perhaps he's not going broke but does seem to have an incredible load of debt with his real-estate holdings.
Time will tell if Nicolas Cage is going to go bankrupt or just bail himself out of debt. Chances are this Hollywood superstar won't find himself broke, standing in the unemployment line or living in a homeless shelter any time soon.
Cheryl Phillips
HULIQ.com
sources: IMBD, Hollywood.com, People.com, Wikipedia
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