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Nic Cage

Bye-Bye Malibu

4/8/2010 6:00 AM PDT BY TMZ STAFF

Nicolas Cage had a bad day Wednesday: Not only did his Bel Air house go on the auction block, his Malibu properties were auctioned to the highest bidder. Problem is, no one was interested.


Nic owned two adjacent properties in the hills of Malibu ... hundreds of acres total. We've learned Nic lost the Malibu properties to the bank Wednesday. They went on the auction block for a minimum bid of $10 million, but there were no takers. The bank now owns both properties outright and will try to unload them through a real estate broker. 

Nic owed a total of $8,878,886.82 on the Malibu properties.

As we already reported, Nic lost his Bel Air home Wednesday as well. The minimum bid at the auction was just over $11 million, but there were no takers there either. Nic owed more than $17 mil on the Bel Air property.

Nic is suing his former business manager, whom he claims drove him down a road to financial ruin.

55 COMMENTS

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1.

Ann    

His last good movie: 22 years ago!

1571 days ago
2.

Infinity314    

It's a shame they took back a house that he only "owed $17" on. Proofread much?

1571 days ago
3.

JJ    

So sad to be rich & stupid.

1571 days ago
4.

Q    

Another Hollywood Liberal living large, talking large, yet shares neither of those humongous properties with the target audience in need of shelter the most.

One day Obama or his future heirs will outlaw such large living. I mean look at those places. How can one man and a few kids ever need that kind of space in a Socialist State?

Bolshevik Party is what Penn and Cage are speaking of, yet neither of them are sharing that living large directly with the people they are speaking of and to.


1571 days ago
5.

chickenman    

NICK,NICK,NICK....ALL IS GOOD WHEN YOUR ON TOP ,BUT PAY UNCLE SAM MAN OR LSE YOUR,CLUCKED..HAD MILLIONS HOPEFULLY SOMEONE U TRUST HAS YOUR MONEY BUD

1571 days ago
6.

jan    

blogaobutanyone.com post anonymous comments about anyone, celebs, politicians, coworkers, professionals and more.

1571 days ago
7.

Saliva    

haha!

1571 days ago
8.

Jdate stud    

His troubles started when he married a girl 40 years younger than him. Or something like that. I worked in the restaurant where Nic had a sh(((((fit when his daughter/girlfriend/wife was carded for being too young to drink. He must have felt like a God yelling at someone making less than $25k with two kids.
He can choke for all I care.

1571 days ago
9.

edge70    

Looks like this idiot puts about as much thought into his real estate dealings as he does picking his movie scripts.

1571 days ago
10.

Martin Bormann    

I don't get it. Why doesn't he just some Obama stimulus money from Fannie or Freddy and let it ride? Barney Frank would go for it.

1571 days ago
11.

kymberly    

Sorry Mr. Cage! Its too bad..time's are hard for all!!!

1571 days ago
12.

Anya    

How stupid these idiots are ! As actors their future is so uncertain anyway, but they keep always trying to outdo the other guy without knowing when their next movie is going to be and if it'll flop or not. I can't conjure up the least bit of sympathy for him or anyone else in his situation.

1571 days ago
13.

Blue Swan    

God, I hope that Kick Ass movie is a blockbuster...by why am I wearing a stupid Batman costume when all the kid actors, like Hit Girl,are wearing made up stuff?!

I'm too old for this !

1571 days ago
14.

Ziggy    

Too bad he had to lose that beautiful house. Most people can only dream of living in a house like that one day. It's a dream house from heaven.

1571 days ago
15.

Kitnwithawhip    

I love the irony of the top stories being about Nic cage loosing his houses because he can't pay for them...and his mug is plastered all over the site in Kick Ass ads you can't miss.

1571 days ago
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