Nicolas Cage Opens Up About 'Dark' Time When He Was In $6 Million Debt

Nicolas Cage recently discussed a "dark" period when he was neck-deep in debt due to a failed real estate investment.

Cage was in debt of $6 million but said he had never declared bankruptcy. The actor shared that he had this "pride thing" where he wanted to work his way through anything.

Read on for more details.

According to People magazine, the "Ghost Rider" actor, 59, recalled a trying time in his life when he was neck deep in debt of $6 million because of a bad investment.

During his appearance on CBS News' "60 Minutes," Cage said that at the time, the real estate investment he was involved in went wrong because of the market crash.

"I was over-invested in real estate. The real estate market crashed, and I couldn't get out in time," Cage explained, adding, "I paid them all back, but it was about $6 million. I never filed for bankruptcy."

The host, Sharyn Alfonsi, stated, "That had to be a dark period for you," He responded in the affirmative, sharing how working on movie roles "no doubt" helped him through it.

"Work was always my guardian angel. It may not have been blue chip, but it still worked," he said.

In recent years, Cage has starred in several moderate-budget, direct-to-video movies that have received mixed reviews from critics and audiences alike. 

However, Cage has defended his choice to work on these projects, stating that he enjoys creative freedom and cares about them. "Even if the movie is crummy, they know I'm not phoning it in, that I care every time," he shared.

In an interview with GQ in 2022, Cage said, "When I was doing four movies a year, back to back to back, I still had to find something in them to give it my all. They didn't work, all of them. Some were terrific, like Mandy, but some didn't work."

He added, "But I never phoned it in, so if there was a misconception, it was that. That I was doing it and not caring. I was caring."

Cage has always been known for his unconventional choices in roles and projects, and it seems that his work in direct-to-video movies is just another example of his willingness to take risks and try new things.

In his recent "The Late Show with Stephen Colbert" appearance, the host asked Cage to list the top five movies he's worked on.

According to People, the actor's top 5 movies are, Pig (2021), Mandy (2018), Bringing Out the Dead (1999), Bad Lieutenant (2009), and Joe (2013).

"I'm gonna start with 'Pig,' that's my favorite movie I ever made," Cage noted. "I love 'Mandy,' the movie Panos [Cosmatos] directed. I love 'Bringing Out the Dead,' which Martin Scorsese directed. I loved Bad Lieutenant by Werner Herzog. I love the movie 'Joe,' which David Gordon Green directed."

Colbert called Cage out on one of his favorites he omitted, "Face/Off."

Cage said, "Oh, I like that one a lot. I love 'Face/Off.' What was interesting about 'Face/Off' —and I could've mentioned 'Vampire's Kiss.' 'Vampire's Kiss' was a little movie I made where I could explore my more abstract dreams with film performance."

The actor spoke with Yahoo! Entertainment about his regrets over an unusual stunt he performed in "Vampire's Kiss," in which he ate a live cockroach.

"I'll never do that again," the actor told the news outlet. "I'm sorry I did it at all."

"Vampire's Kiss" is a 1988 horror-comedy film directed by Robert Bierman and starring Nicolas Cage as Peter Loew, a New York literary agent who becomes convinced that he's becoming a vampire after a one-night stand with a woman he believes is a vampire.

The film follows Peter's descent into madness as he struggles to cope with his newfound vampiric tendencies and the fact that nobody around him seems to believe him.