How Nicolas Cage Really Went Broke

Actor 'spent money like it was water,' friends say
By Kevin Spak,  Newser Staff
Posted Nov 7, 2009 3:46 PM CST
Nicolas Cage speaks during a news conference for the movie "Bad Lieutenant: Port of Call New Orleans" at the Toronto International Film Festival in Toronto on Tuesday, Sept. 15, 2009.   (AP Photo/The Canadian Press, Frank Gunn)

(Newser) – Nicolas Cage’s money woes aren’t all his money manager’s fault. Cage “lived like a sheik,” a friend tells the Daily Beast. “Spent money like it was water.” Here’s a sample of what he spent it on:

  • More than a dozen homes, including a castle in England, an 11th-century estate in Germany, and two entire Bahamian islands

  • An untold number of cars, new and classic. He once paid $500,000 for a Lamborghini previously owned by the shah of Iran, nearly $300,000 more than its value. “He didn’t care,” says a friend. “Nic at an auction is dangerous.”
  • A collection of pets one friend describes as “basically a zoo,” including two albino king cobras; he keeps antivenom nearby
  • A dinosaur skull
  • A collection of shrunken heads
  • A $1 million donation to the Red Cross, and a $2 million contribution to Amnesty International
(Read more Nicolas Cage stories.)