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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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16.

Nikeylynn    

I'm sure he's thinking, thank god my dad is Frances Ford Coppola. Who cares!!

1568 days ago
17.

kelly    

WOW Poor Guy Lost it all... What will he do now?? Hope he is not a pill popper too.




1568 days ago
18.

Carrie    

Proof that if you are wealthy, you'd better learn finance and take care of your money yourself.

1568 days ago
19.

And thats the truth    

8. 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.

Posted at 1:02AM on Apr 8th 2010 by Mattel feeds lead to kids

*************************************************************************

Nicholas Cage just turned 46 in January, so I doubt very much if his wife is 40 years younger then he is.....lol! However, I believe you are on to something. I did not hear of him having any financial issues before he married this woman. Now that he is losing everything, I would not be surprised if he does not lose her too.... sad.

1568 days ago
20.

Thunder Thighs    

so does obama get it now or is it a public park?

1568 days ago
21.

Thunder Thighs    

half of nothing is still half of nothing!

1568 days ago
22.

Thunder Thighs    

gone in 60 years!

1568 days ago
23.

King    

Uncle Francis went broke once too and had to sell his studio. He's doing fine now though.

1568 days ago
24.

BumBum    

Hang in there Nick! we still love ya yer lousy bum!!

1568 days ago
25.

republican mensa    

I guess obamas bailout isn't covering his socialist views, I'm hoping sean penn is next if we are lucky penn can shack.up with chavez...hell cage can go.too, funny going broke just in time to pay up for healthcare....

1568 days ago
26.

thisisi    

man, it's pretty bad when a guy can't scrape up seventeen dollars!

1567 days ago
27.

Neo    

seriously nic??? stop throwing rocks and admit it felt good spending that money!

1567 days ago
28.

martine    

he only owed $17 dollars on Bel Air property?

1567 days ago
29.

Georgia    

Look in the mirror Nic. That's the person responsible for your
financial ruin.

1567 days ago
30.

stonecold    

BWAHAHAHAHAHAHAHA!!!!

1567 days ago
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