Professor Elam

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Lifestyles of the formerly Rich, and Famous

Tuesday April 6, 2010

We have mentioned that Nick Cage was in financial trouble, read how much trouble here. You can follow the links to view multiple cars, motorcycles, yacht, English castle, two homes in the New Orleans Garden District, and of course the ex girl friend/mom……

His financial advisor did warn him that his lifestyle was costing $30 M a year. As these 'assets' will no doubt fail to bring what he had spent on them, it is hard to see any alternative to bankruptcy now but then he has not hired me as his advisor either. 

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2 responses to “Lifestyles of the formerly Rich, and Famous”

  1. Franchesca Avatar
    Franchesca

    I wouldn’t doubt it becuase if he is not making any movies theres no money to be made. Also i was reading a article about the top riches men in the country and the way that they are still rich is the didn’t go beyond the means and only have on house. I am pretty sure hes not the only one in the situation. He is just going to have to sell some property and manage his better.

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  2. Steven Beeler Avatar
    Steven Beeler

    Saw an article today about former NBA star Derrick Coleman. Over his 15 year career he made $87 million (before taxes, of course). Just this week he filed for bankruptcy, listing $1 million in assets and stating he is $4.7 million in debt. He lost much of his money in real estate and other investments made in an effort to revive his hometown of Detroit. A truly sad situation. He does have a $90,000 NBA pension though.

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