Nicolas Cage - "I'm broke!"

Jiro · 11-03-2009, 02:48 PM

Nicolas Cage Broke? Actor Nicolas Cage Buried in Debt

Quote:

Nicolas Cage broke? Like many Americans, Nicolas Cage is broke. Even though Nicolas Cage made millions during his career, he is now broke and bankrupt. So just how is it that one actor who has made millions during his acting career is now broke and bankrupt?

Nicolas Cage is not in denial about being broke. The actor is having a real estate liquidation sale and selling properties he owns across the world. In addition, Nicolas Cage is suing a business manager that allegedly sent him "down a path toward financial ruin" for a minimum of $20 million.

The business manager that Nicolas Cage is suing is Samuel J. Levin and his firm Levin & Co. Management, Inc. Nicolas Cage claims that Levin gave him bad advice and mismanaged his funds.
Levin was Cage's business manager from 2001 to 2008, and has collected millions of dollars in management fees from the former wealthy actor. Cage put his trust in Levin, and claims he didn't know what kind of trouble he was in until he hired new management.

According to the Huffington Post, Levin is a Certified Public Accountant in California and in his 25 years of practice has never been subject to any disciplinary actions. Therefore, Nicolas Cage had no reason not to trust Levin.

What can you do to keep yourself out of a situation such as that of Nicolas Cage? For starters, you should always take an active role in managing your finances. Of course, hiring a business manager or financial consultant is a great idea for wealthy individuals. However, letting someone just 'handle' everything you do could have severe consequences, as the actor has seen. Had Nicolas Cage kept up with everything himself, he may have found out he was in trouble before it was too late.

Always make sure you fully understand any investments your manager is enrolling you in. Nicolas Cage was in numerous highly speculative and risky real estate investments. OF course, we don't know what type of risk tolerance profile Nicolas Cage claimed he had when he went to see the financial advisor. What Nicolas Cage desired may determine if he's successful in a claim against his former manager.
Although Nicolas Cage is broke, he's still one of America's favorite actors. He's smart, sexy, and just plain talented. From Con Air to the National Treasure series, Nicolas Cage has made decades of people smile.

I hope he gets his matter all sorted out!

btw - I don't think he's sexy..... not even close. good movie star, yes. sexy movie star, no way.

Frisky Feline · 11-03-2009, 03:03 PM

I like him. lol

PowerON · 11-03-2009, 03:17 PM

Not much wise on money, I see. tsk

jinxedkitten · 11-03-2009, 04:58 PM

I cringe every time I see his hair plugs flapping in the wind... men with fake hair should not drive in a convertible, I'm sworry!

Bottesini · 11-03-2009, 05:16 PM

Actors earn such high amounts, they should be required to take financial management classes.

JClarke · 11-03-2009, 05:22 PM

Quote:

Originally Posted by Bottesini

Actors earn such high amounts, they should be required to take financial management classes.

And he needs to piss someone off if someone gives him hard time in fianciang ....

Bottesini · 11-03-2009, 05:25 PM

Quote:

Originally Posted by JClarke

And he needs to piss someone off if someone gives him hard time in fianciang ....

That too.

***Jolie77*** · 11-03-2009, 05:54 PM

That stinks. Even though Nicholas Cage had no reason to not to trust his business manager because of it's credentials. However, the problem is, He became too trusting to let that happen, unfortunately.

Jiro · 11-03-2009, 05:58 PM

Quote:

Originally Posted by Bottesini

Actors earn such high amounts, they should be required to take financial management classes.

he hires firm for that. I guess you should be careful of you who trust. Bill Gates' finance is managed by his father and wife.

Chevy57 · 11-03-2009, 06:15 PM

Quote:

Originally Posted by JClarke

And he needs to piss someone off if someone gives him hard time in fianciang ....

I agree. I wonder what s happend to his financing trouble.

Phillips · 11-03-2009, 06:33 PM

Christer · 11-03-2009, 06:49 PM

I am shocking!

rockin'robin · 11-03-2009, 07:06 PM

Sorry to hear it....love all his movies!...Guess if he was still married to Lisa Marie, then $20m would just be peanuts.

There's a lot of trickery in this world. Everybody wants that almighty buck, and "poof" it slips right thru ur fingers.

CJB · 11-03-2009, 07:54 PM

Quote:

Nicolas Cage is not in denial about being broke. The actor is having a real estate liquidation sale and selling properties he owns across the world. In addition, Nicolas Cage is suing a business manager that allegedly sent him "down a path toward financial ruin" for a minimum of $20 million.

No offense, but hardly what I call "broke."

Once he's burned through all that money, then he can call himself broke.

shel90 · 11-03-2009, 08:40 PM

I wonder if he lived above his means?

***VamPyroX*** · 11-04-2009, 01:24 AM

Same thing happened with Gary Coleman. Tsk tsk tsk...

Steel X · 11-04-2009, 03:31 AM

Quote:

Originally Posted by Jiro

Nicolas Cage Broke? Actor Nicolas Cage Buried in Debt

I hope he gets his matter all sorted out!

btw - I don't think he's sexy..... not even close. good movie star, yes. sexy movie star, no way.

He sucks in Ghost Rider.

Jiro · 11-05-2009, 02:55 AM

Quote:

Originally Posted by Steel X

He sucks in Ghost Rider.

yuck. what a piece of shit movie. but he was cool in FACE OFF

PowerON · 11-05-2009, 11:16 AM

Quote:

Originally Posted by Jiro

yuck. what a piece of shit movie. but he was cool in FACE OFF

cool because he make someone (undercover FBI) sucks his tongue? damn

rockdrummer · 11-05-2009, 01:12 PM

Quote:

Originally Posted by Jiro

Nicolas Cage Broke? Actor Nicolas Cage Buried in Debt

I hope he gets his matter all sorted out!

btw - I don't think he's sexy..... not even close. good movie star, yes. sexy movie star, no way.

What... you think Nick is sexy... I never knew that you were gay...

jk dude!

Jiro · 11-05-2009, 01:14 PM

Quote:

Originally Posted by rockdrummer

What... you think Nick is sexy... I never knew that you were gay...

jk dude!

lol re-read it again. I was referring to article saying that he's sexy and I was thinking ????? because he's not sexy at all. He looks like a regular Joe to me.

I think I'm sexier than him but he gets all these women simply because he's got $$$$$$. damn gold diggers...

Frisky Feline · 11-05-2009, 01:15 PM

LOL at boys. Nick will pay off with his debts once he is working more.

rockdrummer · 11-05-2009, 01:17 PM

Quote:

Originally Posted by Jiro

lol re-read it again. I was referring to article saying that he's sexy and I was thinking ????? because he's not sexy at all. He looks like a regular Joe to me.

I think I'm sexier than him but he gets all these women simply because he's got $$$$$$. damn gold diggers...

Yes Jiro... I have seen pictures of you and you are one sexy beast. A legend in your own mind.

Steel X · 11-05-2009, 03:05 PM

Quote:

Originally Posted by Jiro

yuck. what a piece of shit movie. but he was cool in FACE OFF

Yep what sucks even more is that they are already working on a sequel to Ghost Rider and he will cast in it again.

Jiro · 11-05-2009, 03:12 PM

Quote:

Originally Posted by Steel X

Yep what sucks even more is that they are already working on a sequel to Ghost Rider and he will cast in it again.

I can assure you that movie won't be enough to recover from his debt

Make Face Off 2 or something, Cage.

Steel X · 11-06-2009, 02:38 AM

Quote:

Originally Posted by Jiro

I can assure you that movie won't be enough to recover from his debt

Make Face Off 2 or something, Cage.

*chuckles* You got that right.

In almost every movie, he have very terrible looking hair.

JClarke · 11-09-2009, 06:53 AM

Quote:

Originally Posted by Steel X

*chuckles* You got that right.

In almost every movie, he have very terrible looking hair.

Terrible hair symbolizes his terrible trademark!

11-03-2009, 03:17 PM	#3 (permalink)
PowerON B-but but but! Never mind Join Date: Mar 2007 Location: From West Texas Posts: 7,044 Blog Entries: 4	Not much wise on money, I see. tsk __________________ • [Illustrator.Blog-alloon.com] • Don't shoot me! I'm only blogger!

11-03-2009, 05:54 PM	#8 (permalink)
*Jolie77* Love all, trust a few. Join Date: Nov 2005 Location: Kentucky, USA (The Bluegrass State) Posts: 8,129 Blog Entries: 1	That stinks. Even though Nicholas Cage had no reason to not to trust his business manager because of it's credentials. However, the problem is, He became too trusting to let that happen, unfortunately. __________________ “Tough girls come from New York. Sweet girls, they're from Georgia. But us Kentucky girls, we have fire and ice in our blood. We can ride horses, be a debutante, throw left hooks, and drink with the boys, all the while making sweet tea, darlin'. And if we have an opinion, you know you're gonna hear it.” - Ashley Judd

11-03-2009, 06:33 PM	#11 (permalink)
Phillips Lets ride horses! Join Date: Aug 2006 Location: Spaceship Posts: 9,453 Blog Entries: 3	__________________ *Enjoy life today, Yesterday has past and Tomorrow may never come.*

11-03-2009, 08:40 PM	#15 (permalink)
shel90 In a pink and black world Join Date: Sep 2006 Location: In the land of the free Posts: 25,992 Blog Entries: 3	I wonder if he lived above his means? __________________ Shel~ "A child educated only at school is an uneducated child." -George Santayana

11-04-2009, 01:24 AM	#16 (permalink)
*VamPyroX* bloody phreak from hell Join Date: Feb 2003 Location: Hell Posts: 31,799	Same thing happened with Gary Coleman. Tsk tsk tsk... __________________ Check out my city... CLICK HERE! (If you already visited yesterday, visit again today!)

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11-03-2009, 03:03 PM	#2 (permalink)
Frisky Feline Provoke, Pounce, Purr Join Date: Jun 2003 Posts: 7,465	I like him. lol

11-03-2009, 04:58 PM	#4 (permalink)
jinxedkitten Unregistered User Join Date: Nov 2009 Location: California Posts: 2,041	I cringe every time I see his hair plugs flapping in the wind... men with fake hair should not drive in a convertible, I'm sworry!

11-03-2009, 05:16 PM	#5 (permalink)
Bottesini Premium Member Join Date: Mar 2008 Posts: 18,368	Actors earn such high amounts, they should be required to take financial management classes.

11-03-2009, 06:49 PM	#12 (permalink)
Christer Registered User Join Date: Aug 2003 Posts: 1,311	I am shocking!

11-03-2009, 07:06 PM	#13 (permalink)
rockin'robin Registered User Join Date: Apr 2007 Location: Jacksonville, Florida Posts: 3,365	Sorry to hear it....love all his movies!...Guess if he was still married to Lisa Marie, then $20m would just be peanuts. There's a lot of trickery in this world. Everybody wants that almighty buck, and "poof" it slips right thru ur fingers.

11-05-2009, 01:15 PM	#22 (permalink)
Frisky Feline Provoke, Pounce, Purr Join Date: Jun 2003 Posts: 7,465	LOL at boys. Nick will pay off with his debts once he is working more.

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