He is one of the most important actors in the North American film industry, but his assets were affected for this reason.
Al Pacino He is one of the most recognized actors in Hollywood, and his starring role in The Godfather undoubtedly led him to be among the most prominent stars internationally, this being, considered by many, the best film in the world. Following the publication of his autobiography during 2024, a situation that had been hidden from the American and international press.
What happened to the actor was that over a period of time, due to the corruption of his accountant, he lost all his money. Without really understanding why, he suddenly had 50 million dollars and the next day he had lost it all. Since then, he had to start working in films that did not completely convince him to begin to recover his assets.
Al Pacino
Why Al Pacino went bankrupt
It was 2011 and the actor was 71 years old. He had already started receiving warnings that his accountant was untrustworthy. Then He was in a relationship with Argentina’s Lucila Polak. The suspicions that began to arouse about his accounting advisor, unfortunately sooner rather than later began to come true. One day, he sat in his Beverly Hills mansion consult your financial books together with one of his accountant’s subordinates, because he had not visited him for some time.
As he began to investigate, he realized that The numbers on his counter were completely drawn. After making exorbitant expenses and without considerable income because he was not working much, the assets did not seem to decrease, and even increased. When he mentioned the situation to his accountant’s assistant, he returned a look that he says he will never forget and that’s when he realized that he was in serious trouble.
According to Al Pacino, The amount of money I was spending at that time was out of control.. Although he had 2 cars, he paid for 16, he had a large number of people living off of him and he even paid for more than 23 phone lines from people he didn’t know. Even the landscaper charged him $400,000 a year. The accountant’s guilt lies in the failure to warn and furthermore, in the fact that the actor did not sign his own checks, but instead delegated everything in his hands.
“I didn’t look and he didn’t tell me how much he had or where the money went and I didn’t control who received what,” he confessed.
How Al Pacino emerged from bankruptcy
Despite the adverse situation, the actor said that he never despaired. He always tried to see the positive side in complications and decided go out to work to recover your assets. Even though at over 70 years of age he would not receive the enormous payments to which he had been accustomed, he decided to begin accepting any role in order to work and earn an income.
He also had to change his budget, He had 2 houses but sold one of them. He also agreed to do commercials, such as the one for coffee directed by Barry Levinson. During this process, he discovered that His former accountant was arrested and charged with participating in a ponzi scheme. He was sentenced to 7 and a half years in prison.
Another tool he used to obtain income was to start charging for the acting seminars they were giving for free. He confessed that they paid him very well, and by making just one a month he could afford to live for those 30 days without problems. One of the first films he made due to this situation was Jack and Jill, called by Adam Sandler and for a great financial offer.
Source: Ambito
