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 Nicolas Cage is the person of wealth though he is aware that
a millionaire is not that easy to be. Nicolas Cage is the member of the reputed
Hollywood family Coppola along with his grandfather Carmine Coppola, the Uncle
Francis Ford and the cousin Sophia Coppola. He is one of actors who won the
greatest popularity of population and is highly appreciated by experts winning
Golden Globe Award and Oscar and also nominated for these and other awards
regularly. He is the actor who is wanted by producers to star in their projects
and the movies Gone in 60 Seconds, Windtalkers and National Treasure add
another 20 million USD to the moneybox of Nicolas Cage. When someone in
Hollywood is suspected to be a financial insolvency, the name of Nicolas Cage
will be the last in the list.
In the meantime, the events in the second half of the
previous year shoed that Nicolas Cage, an actor with the highest fee, who stars
in movies with significant box-office receipt, faces real and considerable
financial problems. Last autumn it was revealed that the US Tax Service has
available the substantial claims against the actor. By the statistical data of
officers, from the first date of the world financial crisis, Cage failed to pay
$6.200.000 US dollars to the state tax treasury. On the whole, his financial
debts totaled approximately fourteen million US dollars. By December 2009 he collected
legal actions with the ownership claims against his him. First, he was claimed
against by his ex-girlfriend Christina Fulton. She appealed that Nicolas failed
to perform the agreement by which Cage was liable to give to her disposal the
house in Los Angeles for the right to see their child and perform all required
payments by the real estate. However, Cage failed to do that and it resulted in
enormous debts with Christina to the same Tax Service and to the bank for the
total amount of $1.250.000 US dollars. In this view, Fulton requires to recover
$13 million USD from this solid actor in favor of her.
Second, the legal action for $37 million USD against Cage
was proceeded by the realtor company Red Curb Investments which accuses the
actor of that Nicolas owed the intermediate reality agents the amount over $5
million USD in process of his numerous transactions with property purchase and
sale. Moreover, they accuse him of the direct fraud when he never informed the
management of the Red Curb Investments of his debts in other real estate
transactions. And, third, the claim against Cage was brought by his ex-manager
Samuel Levin though this is something to talk at the other time.
The major assets of Nicolas were invested in the real estate
and therefore Cage was forced to say bye to the considerable part of his
apartments, villas and cottages all over the world in the rush. So, the mansion
of the actor in New-Port Beach, California, was put to sale with the start
price of $2 million USD. Then the amount was lowered to attract the potential
buyers almost for 40%.
Besides, two of his houses in New Orleans found new hosts
for $4,5 million USD. Cage purchased those houses for $7 million USD on the
whole. He was the owner of the medieval castle of Schloss Neidstein in the
Oberpfalz region in Germany, which he bought in 2006 and sold in 2009 for $2.5
million USD.
There are two working versions on who is faulty in this
situation though the issue what to do and where to get money was obvious and
Cage sold his property to cover debts. Nicolas admitted the first version
though he did not confessed to be faulty and he expressed his thoughts that
Samuel Levin was the person who managed to bring his property state to the
condition he was then. Nicolas also brought the claim against Samuel Levin
accusing him of provoking Nicolas to invest into the losing projects which
turned to be injurious for the real estate belonged to the actor and his
reputation. He accused Levin of missing the time when the money on Cage's
account came to its logical end though he felt right and authorized to purchase
the other mansion and another luxury automobile costing the fortune. And
Nicolas Cage stated that on the whole Levin was liable to pay taxes from Cage's
income but he did not investing money into doubtful wild projects. And when in
autumn 2008 Levin was replaced by the other manager, these mistakes were
revealed though he was in the short time to recover the situation.
Samuel Levin has the different opinion on this issue and the
reply to the question that differs from that of Cage's on who failed and
skipped to maintain the prosperity of the actor. And thus, according to his
version that sounded more reasonable, no one except for Nicolas Cage was faulty
and guilty in the debts of the latter but him. As Levin stated, since the date
of employment he was incisive in his appeal to Nicolas to be moderate in
expenditures spent for automobiles and in purchase of real estate. He warned
the actor regularly on potential problems within 2006-2007 when any qualified financer
and economist was aware that crisis was at the threshold and investments into
real estate were the first to be affected. Nevertheless, Nicolas neglected his
warnings and went on hastily spend his many-million fees refusing to create the
financial safety pad in case of crisis the minimum amount of which should total
$10 million USD. On the whole, the actor purchased 15 houses all over the
world, about 50 expensive automobiles, a private helicopter and 4 yachts for
the previous years. Only in the year 2007 he spent thirty three million USD for
these entertainments. So, Levin stated, that was logical that Cage faced
financial problems when in 2008 the crisis occurred and prices for the real
estate dropped considerably and banks refused to credit until the old ones were
not covered. That was the logical end to all that stormy and thoughtless spendthrift.
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