Nicolas Cage Selling Properties Due to Financial Pressures

Result of a "Bad Manager"

Nicolas Cage has become one of the great actors of our time. I remember seeing Nicolas Cage for the first time in "Valley Girl. Of course "Valley Girl" came out along with the usage of the vocabulary of affluent upper-middle class girls living in the San Fernando Valley. Nicolas Cage was a rebel both on and off screen.

Regina A. on has posted an article on gather.com titled "Nicolas Cage Broke." The article reports that Nicolas Cage has begun selling properties to take care of past debts including $6.26 million in back taxes for 20007 that the IRS is hounding him for.

Cage is selling properties all over the world.

How did Cage get into financial trouble?

According to him it was the fault of an incompetent business manager who did not take care of Cage.

In addition to financial woes Nicolas Cage recently lost his father. This makes actors vulnerable to business decisions.

However on the other hand, is it really that surprising or uncommon for movie stars to have financial problems?

I have linked to a site that shows just how many actors had filed for bankruptcy.

Here are just a few surprising situations:

Donald Trump, the "financial wizard" has filed for bankruptcy in the past.

One of the current living music legends Elton John has filed for bankruptcy. Great historic figure and President Thomas Jefferson filed bankruptcy.

Other historic figures were Larry King talk show host, Dorothy Hamill, figure skater, the legendary football quarterback of the Baltimore Colts Johnny Unitas and unbelievably the creator of Mickey Mouse, Walt Disney.

Further "legends" who had to file bankruptcy were MC Hammer, Michael Jackson, Mark Twain and Henry Ford.

It is well-known that people who inherit large amounts of money like lottery winners often are broke quickly. It is because they haven't learned how to manage the money as they have amassed it.

In the case of Nicolas Cage and other actors sometimes they just get wrapped up in their work and don't follow the more mundane things of life. That is how a manager who is not exactly above board can get the better of an actor.

References:

http://www.imdb.com/

http://www.gather.com/