Nicolas Cage Broke? Say It Ain’t So
Nicolas Cage broke? The actor recently filed a lawsuit accusing business manager Samuel Levin of mismanaging millions of dollars. Who is really at fault?
nicolas-cage-pictureIt boggles the common mind to picture superstar Nicolas Cage short of funds, but a new lawsuit accuses business manager Samuel Levin of putting the actor in that very position.
Cage reportedly owes $6.3 million in back taxes, among other debts, and alleges that his manager is guilty of, well, mismanagement.
“(Levin) lined his pockets with several million dollars in business management fees while sending Cage down a path toward financial ruin,” the suit said, adding later: “(Cage) relied on Levin to handle his financial affairs to ensure that he and his family would have a financially secure future built on the foundation of the substantial monies Cage earned through years of hard work … He is now forced to sell major assets and investments at a significant loss and is faced with huge tax liabilities because of Levin’s incompetence, misrepresentations and recklessness.”
Aside from the $6.3 million figure, Cage supposedly has another $350,000 in tax debt from several years ago – plus $5.5 million in unpaid mortgage and then a $2 million loan he is still trying to settle. Earlier in 2009, Cage began selling some of his expensive assets, including two homes in America and a castle in Bavaria. Of course, getting out of a money crunch may be easier for Nicolas Cage than most people. But, unlike most of us, he is facing losses of up to $20 million, according to the lawsuit.
According to the Internet Movie Database, Cage began pulling in multi-million dollar salaries in the 1990s. This apparently began with The Rock (1996) at $4 million, followed by his famous John Travolta plastic surgery-switcheroo action thriller Face/Off the next year, at $7 million. Since then, his marquee-heavy paydays have climbed into the double digits and stayed there, movie after movie.
Have the alleged doings of his ex-manager caused the Cage empire to crumble away? Stay tuned to see.
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