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Nicolas Cage Broke? Nicolas Cage Owes More Than $6 Million Back Taxes

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November 3rd, 2009 by Wendy

Tagged as: Nicolas Cage


Nicolas Cage broke?
Is Nicolas Cage broke? Nicolas Cage is rumored to be broke, owing $6.3 million in back taxes… and blaming it all on his business manager, who he filed a lawsuit against on October 16.

In Nicolas’ Cage’s lawsuit, it’s alleged that longtime business manager Samuel J. Levin, “lined his [own] pockets with several million dollars in business management fees while sending Cage down a path toward financial ruin.”

Nicolas Cage hired Levin in 2001 to oversee his investments and finances – looks like he didn’t do such a great job if Cage is now as broke as the rumors would have you believe.

Cage has begun selling possessions and sold his Bavarian castle, as well as placing other homes he owns on the market (California, Las Vegas and New Orleans – seriously, how many homes does one need?).

Nicolas Cage owes over $6 million in unpaid taxes dating from 2007, according to court papers.

The lawsuit alleges “He [Cage] 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.”

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