Cage said it was a “dark” period in his life, but contracting roles kept him afloat by helping him pay off his debt despite the direct-to-video movies he ended up making.
Nicolas Cage he opened up about what he had to do to get out of the significant real estate debt he had contracted and what he had to do to pay the $6 million he owed.
“I was overinvested in real estate. The housing market collapsed and I couldn’t get out on time.”Cage told 60 minutes. “I paid them all back, but it was around $6 million. I never filed for bankruptcy.”
Cage said it was a “dark” period in his life, but contracting roles kept him afloat by helping him pay off his debt despite the direct-to-video movies he ended up making.
“Work has always been my guardian angel. It may not have been blue chip, but it was still work,” he added. “Even if the movie is ultimately bad, they know I’m not making it lazily, that I care all the time”.
This is not the first time that Cage has spoken about his financial problems and how adamant he was not to declare bankruptcy by giving his all to the projects he landed.
“When I was doing four movies a year, back-to-back, I still had to find something in them to be able to give it my all,” he told GQ in 2022. “They didn’t work, all of them. Some of them were great, like Mandy, but some of them didn’t work. But I never called him on the phone. So if there was a misconception, that was it. That I was just doing it and I didn’t care.”
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
