Ian Somerhalder looks back on how he overcame his financial crisis after saying goodbye to sets and screens.

The “Vampire Diaries” star opened up, recounting a difficult phase of life he went through due to his missteps in business. After accruing millions of dollars in debt, he and his wife, Nikki Reed, had to pull out all the stops to set their finances back in order.

Ian Somerhalder confirmed that he was retiring from acting in 2024 and has since moved with his family to lead a quiet life on a farm. He is focused on his business, family, and raising his two children.

Ian Somerhalder Admits He Made A Wrong Financial Move

Paying off debt is never easy, and Somerhalder can affirm. He recently shared the rules of business, noting his personal experience and mistakes. The actor revealed that he and his wife were left sinking in debt worth millions of dollars after he got his hands into a bad business deal. Fortunately, they have passed through that phase of life and seen the light at the end of the tunnel.

The actor began reiterating that he retired from acting seven years ago. His last on-camera performance was in “V Wars” in 2019. Speaking with E! News, at the Beverage Forum, Somerhalder said, “I left an insanely lucrative career in television after financial upheaval from building a business that I didn’t build properly. And due to fraud, it put my wife and I into an eight-figure hole.” 

The TV star stressed that the financial crisis escalated after he made personal guarantees to a bank worth eight figures for a clean energy company, whose name he did not disclose. Years later, he has scaled through all thanks to Reed, whom he reveals negotiated them out of the deal. To sort out the debt, the Hollywood icons had to sell off their properties, including paintings, watches, cars, and houses.

Nikki Reed Is Her Husband’s Pillar Of Strength

The “Vampire Diaries” star dished out advice for anyone starting a business with their spouse. “Make it fun, remember, it’s supposed to be fun,” he admonished before adding, “find the beauty in all of it.” The actor previously praised Reed for the role she played while he was juggling acting on the hit TV show and building an important company simultaneously.

“This woman here decided that she didn’t want to see her husband ruin his body/mind/spirit and pulled up her bootstraps and got down in the trenches assembling a team to get to the negotiating table to find a way out,” he shared on his socials about five years ago. The actor added that Reed had devoted her life to getting him out of the hole he had dug himself into so much that the process almost killed her.

Somerhalder gave his wife her flowers for standing by him through thick and thin and not giving up when the going got tough. With Reed’s support, the eight-figure debt is now a thing of the past. “I am where I am BECAUSE of this woman,” the TV personality declared. 

Ian Somerhalder Chose A Life Away From Hollywood

Somerhalder announced his retirement officially in 2024 after staying away from sets for about five years. He shared that choosing a quiet life felt like the best decision for him and his family. His focus had tilted from the thrills and glamour of the entertainment industry to his burgeoning business and the simple farm life he chose.

At the 2024 Environmental Media Association Awards Gala, the actor disclosed that he viewed his acting career as “in the rearview mirror.”  Two years before his public declaration, the couple had relocated to a farm near Los Angeles, allowing them to embrace a more eco-friendly lifestyle. Somerhalder noted that their new way of life had been magical, giving them a different outlook on life and a chance to enjoy the simple moments.

The Blast shared that Reed also chimed in with her thoughts in a separate interview. She said that moving “very far outside the city” gave them a feeling of relief and had a positive impact on her mental health.  “Nature is the best form of therapy. And it’s instant – you don’t have to spend six months in nature before you feel it,” she noted.

The Retired Actor Promoted His Bourbon Brand In An Iconic Way

In 2023, Somerhalder and his on-screen brother Paul Wesley wowed fans at Circa Las Vegas on the famous Slotzilla Zipline. The dynamic duo soared 11 stories high above fans who were eagerly waiting and cheering them on. After landing in the midst of thousands of fans, they made their way to the Main St. Stage to give a short speech.

Amid the loud cheers echoing through the arena, Wesley and Somerhalder took the mic to express gratitude to the crowd for the massive turnout, after which they encouraged everyone to get ready to take some shots of their wildly popular Brother’s Bond Bourbon with them at Circa Bar. As reported by The Blast, the “Vampire Diaries” brothers later walked the red carpet, pausing for photos and brief interviews with reporters.

They also engaged with notable members of the Circa team, including Chief Operating Officer David Rosborough. The actors spent more time behind the bar for the rest of the evening as mixologists pouring shots of their smooth Brother’s Bond Bourbon for several fans who were waiting in a line that stretched over multiple blocks.

Inside Ian Somerhalder’s Award-Winning Brand

Brothers Bond Bourbon was launched by Somerhalder and Wesley in 2021, but their story goes further back in time. The onscreen brothers who bonded over their role on the hit TV show were inspired to start the business after drinking bourbon together on and off screen for close to a decade.

Their deep sense of brotherhood and shared love of bourbon sparked the vision of crafting an exceptional whiskey company. After thorough research and experiments, they came up with their unique blended drink.

The goal of Brothers Bond Bourbon, which started in Somerhalder’s kitchen, is “to create a bourbon that epitomized elegance, exceptional smoothness, complexity, and balance, one that would captivate the most discerning bourbon enthusiasts.”

Their brand has won several accolades, including Double Gold at the San Francisco World Spirits Competition in 2022, 2023, and 2024.  The highly rated whiskey blend has also spread its wings and is available in 49 states across the United States.

Hats off to Ian Somerhalder for pulling through the pile of debt!