Source: Reality TV World
Spent money like he discovered the Declaration of Independence.
Nicholas Cage earned more than $40 million in 2009. He spent all the money he made on mansions, private jets, cars.
He bought a Midford Castle, a medieval castle and even an island in the Exuma Archipelago. Before he knew it, he amassed over $14 million in debt. $6.2 million was from the IRS and had to declare bankruptcy.
He sued his financial manager for negligence and fraud. Cage then sold all of his assets to pay off his debt.