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SMART RICH VS DUMB RICH – The Young, The Dreams & The Money – Medium

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3 QUESTIONS TO FIND OUT WHICH ONE YOU ARE

Nicolas Cage ( Hollywood Actor )

Best known for his roles in movies such as “The Rock”, “National Treasure” and “Leaving Las Vegas,” Nicolas Cage was once a top earner in Hollywood, worth $150 million. He was among the highest paid actors in the world, earning some $40 million per year at the pinnacle of his success.

In light of the above, he could easily be defined as a rich person ( No kidding!).

Normally, when someone has that much money, we assume that they are rich beyond measure and live the most comfortable lives imaginable. What more could they possibly want? They have everything and don’t ever need to worry about paying the bills again.

But if that was the case, Nicolas Cage wouldn’t have ended up where he did in 2009.

Cage ended up with massive amounts of debt, an unpaid property tax bill amounting to a whopping 6.3 million dollars and saw his vast properties hit rock bottom, as creditors flocked to his doorstep.

Lacking liquid assets, Cage saw many of the real estate investments he’d purchased when the market was near its peak sold off when it was at its low point.

Cage blamed his financial advisor Samuel J. Levin for his situation and even tried to sue him for several million dollars. But in his counter-suit, a lawyer acting on Levin’s behalf stated rather matter of factly:

“[Cage] knows that his losses are entirely and solely the result of his own compulsive, self-destructive spending, which he engaged in against Levin’s advice.”

What was this ‘compulsive, self-destructive spending’ that came to light that led Nicolas Cage to hit rock-bottom?

Prepare to be amazed because Cage really took the meaning of spending to a whole other level.

Cage once owned 15 residences, including a $25 million waterfront home in Newport Beach, California, a $15.7 million countryside estate in Newport, Rhode Island, and an $8.5 million abode in Las Vegas. (pictured below)

Nicolas Cage’s Las Vegas House.

He also bought the famed ‘LaLaurie mansion’ in New Orleans for $3.4 million ( famed for being haunted).
Over in Europe, Cage purchased not one but 2 castles for $10 million and $2.3 million respectively. 
$3 million got two private islands in the Bahamas.

Over this, he made many, many car purchases (including over 50 rare cars, such as a Lamborghini once owned by the Shah of Iran which he spent $450,000 on and a 1955 Jaguar D-Type). 
Oh, and he also had a special pet fetish? So he got himself a pet shark, a pet crocodile and also a pet octopus which he bought for $150,000! (According to Cage, he studied the octopus’s movements to improve his own acting) He also acquired a pair of Albino cobras called Moby and Sheba worth $250 million.
He spent yet another $150,000 on the first Superman comic.
He also outbid Leonardo DiCaprio on a 7-million-year old dinosaur skull, (it went for $276,000) but later found out it was stolen so he had to return it to the government. ( that’s throwing away a quarter million dollars!)

Not to mention that he threw multimillion-dollar parties in his multimillion-dollar residences which even Hugh Hefner found wild.

(Source)

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