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Actor Nicolas Cage
According to Forbes magazine, Nicolas Cage earned $40 million in 2009, making him one of Hollywood's highest-paid actors. Unfortunately, Cage, 49, appears to have some major spending issues - and equally hefty problems with his financial advisor. After Cage faced foreclosure on several properties and the IRS slapped the actor with a $6.2 million tax lien in 2009, Cage sued his money manager, claiming negligence and fraud. In a counter suit, Cage's manager alleged that the actor had blown through at least $33 million on dozens of specialty or vintage cars, four luxury yachts and 15 palatial homes around the world, including two European castles, as well as rare art and high-end jewelry. Those contentious lawsuits have been settled, but Cage still appears to be trying to fix his finances. The Oscar-winning actor is currently trying to unload several properties, including a chalet in Aspen, Colo., and an entire island in the Bahamas.
Photographer Annie Leibovitz
Annie Leibovitz borrowed $24 million in 2005 and pledged her entire photographic library as part of the collateral to repay the loan. Friends told the New York Times that part of Leibovitz's financial difficulties began because of business mismanagement and poor economic choices on her part. Recently, Leibovitz has also faced numerous personal circumstances that magnified her dire financial straits. Leibovitz's partner, Susan Sontag, died in 2005, as did both of Leibovitz's parents. The celebrated photographer also had twins the same year, born via a surrogate. Unpaid income taxes and big bills from a massive property renovation didn't help. Luckily, Leibovitz has been able to work out deals with her creditors and her photo collection is no longer at risk. The famed photographer, now 63 years old, is listing her $33 million, ivy-adorned New York City property for sale.
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