Nicolas Cage
Malcolm Taylor/Getty
The Leaving Las Vegas and Honeymoon in Vegas star's foreclosed, 14,300-sq.-ft. home in the Nevada tourist destination may have sold for $4.95 million on its first day on the market, but Cage paid $8.5 million for it in 2006, the Associated Press reports.
The residence otherwise screams Vegas splendor: six bedrooms, seven-and-a-half baths, a 16-car subterranean garage, a theater and a glorious view of the city's downtown Strip.
Cage, who has recently changed business managers, currently owes the IRS approximately $14 million. Much of his money troubles comes from his real-estate dealings. In the past few years his investments have included 15 palatial homes in Germany, the U.K. and New Orleans. He also paid $3 million for a Bahamian island.
Cage, 46, earns $20 million per film, and his latest, the supernatural thriller Season of the Witch, opens March 19. Cage has assured PEOPLE "all taxes will be paid."
See what other readers have to say about this story – or leave a comment of your own
