Cage improperly deducted personal expenses, like limos, meals, gifts, travel, and his Gulfstream 1159A turbojet, which got him into trouble with the IRS. But he surely felt like a king on his private jet while it lasted.
See also: All the ways Leonardo DiCaprio spends his millions
The actor also bought an octopus for US$150,000 but later had to give up his eight-tentacled companion due to financial problems, though he did try to claim that it was for his work.
These are severed and specially prepared heads once used for trophy, ritual, or trade purposes, but which Cage decided would look good in his home.
Though he's best known for his roles in films like 'Leaving Las Vegas' and 'National Treasure,' Nicolas Cage has also garnered a reputation for his bad decisions—especially when it comes to money. It makes sense, since he was at one time a top earner, worth a cool US$150 million. Unfortunately, in a textbook example of what not to do when you're suddenly wealthy, the actor squandered his fortune away on a series of wildly extravagant and unnecessary purchases, eventually owing the IRS over $6 million in taxes, CNBC reports.
Cage recently opened up about that unstable period in his life and busted some myths about his outrageous spending. In his first talk show appearance in 14 years, Cage revealed all on 'Jimmy Kimmel Live!' on April 20. Kimmel had been tipped off by Cage's 'National Treasure' co-star Diane Kruger to ask about the purchase of a bat cave! Cage conceded that he had once investigated buying a cave after he became fascinated with exploring the elements, and felt owning a cave would be the perfect way to explore Earth. He admitted another motivation that crossed his mind at the time: "I'd like to buy this and just go down in the bottom of the cave and get totally naked with my wife and drink." Luckily, he didn't end up spending his money on a cave!
Cage was last reported to be worth around $25 million, which still isn't anything to feel sorry about, but it's far from his peak. To know what we mean, take a look at the actor's most expensive and extravagant purchases from his filthy rich and blissfully ignorant days.
Nicolas Cage is no stranger to bad decisions
The eccentric actor is 59
CELEBRITY Actors
Though he's best known for his roles in films like 'Leaving Las Vegas' and 'National Treasure,' Nicolas Cage has also garnered a reputation for his bad decisions—especially when it comes to money. It makes sense, since he was at one time a top earner, worth a cool US$150 million. Unfortunately, in a textbook example of what not to do when you're suddenly wealthy, the actor squandered his fortune away on a series of wildly extravagant and unnecessary purchases, eventually owing the IRS over $6 million in taxes, CNBC reports.
Cage was last reported to be worth around $25 million, which still isn't anything to feel sorry about, but it's far from his peak. To know what we mean, take a look at the actor's most expensive and extravagant purchases from his filthy rich and blissfully ignorant days.