What is Kevin Spacey's Net Worth?
Kevin Spacey is an American actor, director, screenwriter, and producer who has a net worth of -$2 million. Kevin Spacey's net worth was significantly higher at one point, perhaps as high as $50 million at the peak of his career. Unfortunately for Kevin, various personal controversies and legal problems have essentially ended his career and his ability to earn significant acting paychecks. These controversies have forced Kevin to spend millions of dollars on legal fees and legal judgments.
In a June 2024 interview with Piers Morgan, Kevin claimed to have no money left, was facing foreclosure on his Baltimore home, had barely avoided bankruptcy several times in recent years and actually was facing millions of dollars in legal debts.
In November 2021, Kevin was ordered to pay the production company behind "House of Cards," Media Rights Capital, $31 million in damages for breaching his contract by engaging in sexual misconduct on set while working as both actor and producer. This judgment was upheld in August 2022. By that point, Kevin was reportedly no longer paying his mortgage on a $5.6 million Baltimore condo that was purchased in February 2017. As we detail in the paragraphs below, a debt collection agency was granted permission to hold a foreclosure auction on the condo in February 2024. By that point his debt had grown to nearly $36 million with interest. However! In a surprise twist, also in February 2024, Kevin reportedly reached a deal that would wipe the $31 million judgment on the condition he cooperated in MRC's lawsuit against the show's insurance company.
Kevin Spacey garnered widespread acclaim for his performances in films such as "The Usual Suspects" (1995), for which he won an Academy Award for Best Supporting Actor, and "American Beauty" (1999), which earned him an Academy Award for Best Actor. Spacey has a broad range of acting prowess, as demonstrated by his roles in films such as "Seven" (1995), "L.A. Confidential" (1997), and "K-PAX" (2001). Spacey's stage work is also significant, having served as the artistic director of London's Old Vic Theatre from 2004 to 2015, where he starred in productions like "Richard III" and "Inherit the Wind." Kevin Spacey's career stalled after multiple allegations of sexual misconduct emerged in 2017, leading to his removal from "House of Cards" and other projects.
House of Cards Salary
At his absolute career peak in the early 2000s through the period of "House of Cards" (2013 – 2018), Kevin could easily earn $10 million to star in a major film and $5 million for a supporting role. Thanks to his acting and producing work on "House of Cards," he was earning $20 million per season for the later seasons. His base salary per episode was $500,000.
$30 Million Damages Lawsuit
In January 2019, Media Rights Capital, the production company behind "House of Cards," sued Kevin. In its lawsuit, MRC alleged Kevin:
"…breached provisions of both the Acting and Executive Producing Agreements that set standards for his workplace conduct, including by breaching MRC's Harassment Policy."
MRC's lawsuit sought compensation FROM SPACEY PERSONALLY for the financial damages it incurred for having to scrap the entire sixth season after filming two episodes. Furthermore, MRC claimed in the scramble to right the ship, it only had enough time to produce eight episodes for the sixth season, five fewer than Netflix ordered. MRC lost millions in licensing fees by not being able to deliver a full season.
In November 2021, Spacey was ordered to pay $31 million in damages, and in August 2022, that judgment was upheld. The award was broken out as $29.5 million in compensatory damages plus another $1.5 million in legal fees and other costs.
By early 2024, the debt had grown to $36 million with interest. In a surprise twist, in February 2024, Kevin reached a deal with MRC in which he would testify on the production company's behalf in a separate lawsuit against MRC's insurance companies, Lloyds of London and Fireman's Fund. MRC is reportedly seeking $150 million in that lawsuit.
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Real Estate/Financial Problems
In 1997, Kevin paid $2.135 million for a home in LA's Los Feliz neighborhood. The 1.1-acre property features a 6,600-square-foot home behind gates and thick shrubbery. Kevin quietly listed this property in 2015 for $16 million but ultimately sold it in an off-market deal in July 2017 for $11 million.
In March 2001, Kevin bought the home immediately next door to his Los Feliz property for $1.9 million. He sold this property in May 2006 for $2.535 million.
In February 2017, Kevin paid $5.65 million for a five-story, 9,000-square-foot waterfront home in Baltimore, Maryland. He purchased the condo to be close to the studio where "House of Cards" was filmed. At the time, it was one of the highest prices paid for an Inner Harbor residence. By the middle of 2022, Kevin had reportedly fallen behind on his $20,000 monthly mortgage payment. By February of 2023, he was reportedly $171,727 behind on the mortgage. In July of 2023, the HOA filed a $43,400 lien against the property, apparently due to his non-payment of a $2,600 monthly HOA fee for approximately 16 months at that point. In August of 2023, a judge granted a debt collection agency the right to sell the mansion. The property will head to a foreclosure auction on February 29, 2024. Here is a video tour from 2016, before he purchased the property:
Early Life
Spacey's real name is Kevin Spacey Fowler, and he was born on July 26th, 1959, in South Orange, New Jersey. He was raised alongside two siblings by his mother, a secretary, and his father, who was a technical writer. When Kevin Spacey was four, the family moved to California. Speaking of his father, Kevin Spacey admitted he was physically abused and that his dad was a Nazi-sympathizing racist.
In grades 10 and 11, Kevin Spacey attended military school. In his senior year, he moved to Chatsworth High School, where he joined the school's theater production of "The Sound of Music." After graduating, he started using the name Spacey. He also moved to New York City to attend the Juilliard School. While he studied there from 1979 to 1981, Kevin Spacey tried to break into the stand-up comedy scene.
Career
Spacey found early success in theater. After a small role in a Shakespeare play, he appeared in the Broadway production of "Ghosts" in 1982. Further roles came in "The Misanthrope and Hurlyburly." By 1986, he had established himself in the New York theater world with roles in Broadway productions of "Sleuth" and "The Seagull." His real breakthrough came later that year with a role in the critically acclaimed production of "Long Day's Journey Into Night."
After a brief foray into the television world with "Crime Stories," Spacey turned his attention toward film. While he tried to gain a foothold in Hollywood, he continued to appear in a range of plays, including "Lost in Yonkers" in 1991. He won a Tony Award for his performance. He also appeared in TV series such as "L.A. Crime" and "The Murder of Mary Phagan."
Kevin Spacey's first big film role came when he appeared in "See No Evil, Hear No Evil" in 1989. His acting talents were soon recognized, and he established a reputation as an enthralling character actor in series like 1989's "Wiseguy" and in films like 1992's "Glengarry Glen Ross." Critics began to take notice after he appeared in movies such as "The Ref" and "Swimming With Sharks," and he eventually won an Academy Award for Best Supporting Actor with a role in 1995's "The Usual Suspects."
That year, he also made one of his most iconic film appearances in "Se7en" as a serial killer. The following year, he made an equally memorable appearance in "A Time to Kill" as an attorney. In 1998, he took a prominent voice acting role in the animated film "A Bug's Life." In 1999, Kevin Spacey established himself as one of Hollywood's most talented stars with an incredible performance in "American Beauty," winning an Academy Award for Best Actor and a star on the Hollywood Walk of Fame.
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Spacey continued to win Tony Awards for theater performances during this period and started the 2000s with roles in "Pay it Forward" and "K-Pax." In 2006, he proved to be a perfect choice for the role of Lex Luthor in "Superman Returns." He also appeared in 2008's "21."
Although he was intimately involved with theater over the next few years, the 2010s were all about "House of Cards" for Spacey. Starting in 2011, Spacey played Frank Underwood until 2018, when he was forced to leave the cast due to sexual assault allegations. During his time on the show, Spacey won countless awards and was nominated for many more. Starting in 2013, he also started working as a producer on the show, earning a peak salary of $20 million per year. In 2011, Spacey also took the role of the antagonist in the film "Horrible Bosses." In 2018, he appeared in "Billionaire Boys Club."
In November 2022, it was reported that Spacey was set to speak at the National Museum of Cinema despite allegations against him and receive a lifetime achievement award in January 2023. After winning the sexual battery lawsuit filed against him, Kevin Spacey was cast in the British indie thriller "Control" in late 2022. Also that year, he was cast as the late Croatian leader Franjo Tudjman in "Once Upon a Time in Croatia."
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Controversy
In 2017, Kevin Spacey was accused of making sexual advances towards a 14-year-old boy back in 1986, when Spacey was 26. Spacey issued a public statement that suggested alcohol was to blame, but allegations kept coming. In total, 15 similar stories surfaced, suggesting Spacey had a long history of this kind of behavior. Many of the people who came forward had sons who were connected with the entertainment industry, including the Old Vic theater. Representatives of the Old Vic stated that 20 people had complained, and three had reported Spacey to the police.
As a result, the production of "House of Cards" came to a halt, and the final season was shortened to just eight episodes. In addition, many of Spacey's films had to be re-shot with different actors when he was asked to leave the cast. Later, he was abandoned by his agent and his publicist.
In 2018, more allegations continued to pour in, and it was clear that Spacey's reputation had been sullied permanently. In 2019, a man whom Stacey had allegedly groped committed suicide. That year, a total of three people with ties to Spacey died. Although Spacey has been through various court cases for sexual assault and criminal assault, all of the cases have been closed with no legal penalties for the actor. Three charges were dismissed before or during the trial, which began in June 2023, and in July 2023, a jury found Spacey not guilty of the remaining charges.
Other Ventures
In 1997, Spacey created his own production company called Trigger Street Productions. In 2016, Trigger Street Productions was acquired by Relativity Media. Kevin Spacey has also worked as a director for various films. Additionally, he hosted "Saturday Night Live" on more than one occasion. Spacey has appeared in video games, most notably "Call of Duty: Advanced Warfare." In 2003, Kevin Spacey became the artistic director of the Old Vic Theater in London.
Personal Life
For many years, Spacey mostly kept his private life under wraps. As he explained in a 1998 interview: "The less you know about me, the easier it is to convince you that I am that character on screen. It allows an audience to come into a movie theater and believe I am that person."
In October 2017, fellow actor Anthony Rapp alleged that Spacey had acted inappropriately to him when he was 14 years old. The allegation caused Spacey to release an apology. In his apology, he finally came out as a gay man. This confession was considered controversial because he "came out" in the same statement in which he apologized for making sexual advances towards a minor. In the eyes of many critics, his attempts to link his homosexuality with pedophilia were bizarre. In November 2022, Spacey won the sexual battery lawsuit filed by Rapp.
