Kevin Spacey Broke and Homeless After Career Collapse

Academy Award-winning actor Kevin Spacey has declared himself bankrupt and homeless. The star revealed his dire financial situation in a recent interview. He is now living out of a suitcase, moving between hotels and short-term rentals.

This marks a stunning reversal for an actor who once commanded millions per film. According to the Daily Telegraph, Spacey cited “astronomical” legal costs as the primary cause.

From Hollywood Royalty to Millions in Debt

Spacey’s career spanned decades with iconic roles in “American Beauty” and “The Usual Suspects.” At his peak, his net worth was estimated to be over $70 million. His salary for Netflix‘s “House of Cards” reached $20 million per season.

That fortune has been entirely depleted. He told Piers Morgan he owes “many millions” in legal bills. His longtime Baltimore home was also foreclosed upon last year.

Legal Battles and Industry Exile

Spacey’s downfall began in 2017 with a wave of sexual assault allegations. He was immediately fired from “House of Cards.” The production company, Media Rights Capital, then sued him for breaching his conduct agreements.

In 2021, an arbitrator ordered Spacey to pay MRC $31 million in damages. This judgment was later upheld. The financial penalty, combined with his loss of income, created an insurmountable debt.

The actor’s reputation is now in tatters. His ability to secure major acting roles has vanished. He now travels for whatever work he can find, with no permanent base.

Kevin Spacey’s financial freefall serves as a cautionary tale of how quickly fortunes can change. The actor’s current reality is a stark contrast to his former life of Hollywood luxury.

Thought you’d like to know

What was Kevin Spacey’s net worth at his peak?

At the peak of his career, Kevin Spacey’s net worth was estimated to be north of $70 million. This wealth came from his high salaries for major films and his lucrative role in “House of Cards.”

Why did Kevin Spacey have to pay $31 million?

He was ordered to pay $31 million to the production company of “House of Cards.” The ruling was for damages related to his alleged misconduct and the subsequent costs of reworking the show’s final season.

Is Kevin Spacey still acting?

Yes, but on a much smaller scale. He has taken roles in independent films that have limited release. He stated he goes “where the work is” to manage his living expenses.

What happened to his home in Baltimore?

His $6 million Baltimore townhouse was foreclosed on. This event effectively left him without a permanent residence, forcing him into temporary accommodations.

Has Kevin Spacey been found guilty of any crimes?

He was found not guilty in a UK criminal trial in 2023. However, he has faced numerous civil lawsuits and significant financial penalties from other legal proceedings.