In an interview with In Touch magazine, Nicolas Cage says he wanted to go into hiding when his dire financial situation became evident. He blames the financial crisis on his former business manager Samuel Levin and has a lawsuit pending seeking $20 million in damages.
The actor owes over $6 million in back taxes to the IRS and was forced to sell several homes in England, New Orleans, NY and Germany.
He says, "The first thing you think is, This can’t be true. I want to crawl up and hide at the end of the world. With hindsight an inexcusable naivety, because buying these properties ruined me financially."
Now the National Treasure star is determined to make things right.
Nicolas Cage has a 4-year old son, Kal-El, with his third wife, Alice Kim, and also has a 19-year old son from a previous relationship.
He goes on to say, "I have a new manager now, so I’m halfway there. And I will pay off all those debts, to the last cent.I have a responsibility for my sons and my wife. I have to get back on my feet."
Nic Cage lived a highflying lifestyle with a jet, two boats, three castles, two islands in the Bahamas and many homes. At one point, he spent $276,000 for an old dinosaur head dating back 67 million years.