Thursday, December 31, 2020
At one point, Nicolas Cage was worth around $150 million, but the wealth ran out quickly after he began purchasing expensive items. The string of outlandish purchases lead to foreclosure on several properties.
Cage once owned 15 homes across the world, including one in the Bahamas. Other purchases included a nine-foot-tall burial tomb, an octopus, shrunken pygmy heads, a $150,000 Superman comic and 70-million-year-old dinosaur skull.
What really hurt Cage financially was his "overstuffed real estate portfolio." Cage indulged himself in reading and studying philosophy, which moved him to seek out the places he had been learning about, eventually leading him to buy properties that matched the new found ideals.
Cage refers to this period as the "holy grail quest" that "put [him] on a search around different areas, mostly in England, but also some places in the States." During this period, Cage purchased two European Castles that were $10 million and $2.3 million and a $15.7 million countryside estate in Rhode Island.
On his search for the "holy grail" Cage came to this conclusion: "What is the grail but Earth itself."
See Emmie Martin, Nicolas Cage blew $150 million on a dinosaur skull, pygmy heads and 2 European castles, CNBC News, November 24, 2020.
Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.