Nicolas Cage blames 'dark' time when he was US$6 million in debt on real estate market crash

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That was why he worked his butt off by starring in a string of 'crummy' direct-to-video films.

The 59-year-old has been at the centre of reports he had blown his US$150 million fortune, owed the IRS US$6.3 million in property taxes, and was taking every acting role he could in order to get out of debt. Despite his financial struggles, the Oscar-winning actor maintained that he never filed for bankruptcy.' Sharyn Alfonsi, Cage said, “I was over-invested in real estate... the real estate market crashed, and I couldn’t get out in time.

“It was dark, sure," said the father of three. Cage and his artist wife, Riko Shibata, 28, welcomed their first child, daughter August Francesca Coppola Cage, last September.actor also has sons Kal-El, 17, and Weston, 32, from previous relationships. He added, “Work was always my guardian angel. It may not have been blue chip, but it was still work.”Cage defended appearing in a string of critically mocked films as he struggled with repayments by saying: “Even if the movie ultimately is crummy, they know I’m not phoning it in, that I care every time.”about taking back-to-back jobs for financial reasons, saying: “I can’t go into specifics or percentages or ratios, but yeah, money is a factor.

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