Kevin Spacey's Journey: Rise, Fall, And Comeback Attempts

Where Does Kevin Spacey Stand Financially?

Kevin Spacey, the celebrated American actor, director, screenwriter, and producer, currently has a net worth of -$2 million. That’s right, negative two million. At one point, Spacey was sitting on a fortune of around $50 million at the peak of his career. But, unfortunately, a series of controversies and legal issues have pretty much derailed his career and his ability to earn big bucks. These scandals have also forced him to shell out millions in legal fees and settlements.

In a candid interview with Piers Morgan in June 2024, Spacey admitted that he’s flat broke, facing foreclosure on his Baltimore home, and has narrowly avoided bankruptcy multiple times in recent years. He also mentioned being saddled with millions of dollars in legal debts.

What Happened to Kevin Spacey's Career?

Back in November 2021, Kevin was ordered to pay $31 million in damages to Media Rights Capital (MRC), the production company behind “House of Cards,” because of alleged misconduct on set. This ruling was upheld in August 2022. By that time, Kevin had stopped paying the mortgage on a $5.6 million Baltimore condo he bought in February 2017. A debt collection agency even got the green light to hold a foreclosure auction on the condo in February 2024. But here's a twist: Kevin struck a deal with MRC to wipe out the $31 million judgment if he cooperated in their lawsuit against the show’s insurance company.

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Before all this chaos, Spacey was a household name thanks to his standout performances in movies like “The Usual Suspects” (1995), which won him an Academy Award for Best Supporting Actor, and “American Beauty” (1999), where he snagged the Best Actor Oscar. His acting skills were on full display in films like “Seven” (1995), “L.A. Confidential” (1997), and “K-PAX” (2001). Beyond the big screen, Spacey made waves in theater as the artistic director of London's Old Vic Theatre from 2004 to 2015, starring in productions like “Richard III” and “Inherit the Wind.” However, his career took a nosedive after multiple allegations of sexual misconduct surfaced in 2017, leading to his ousting from “House of Cards” and other projects.

How Much Was Kevin Spacey Making on "House of Cards"?

During his career peak from the early 2000s through the “House of Cards” era (2013–2018), Kevin could command $10 million for a lead role in a major film and $5 million for a supporting role. Thanks to his dual roles as both actor and producer on “House of Cards,” he was raking in $20 million per season for the later seasons. His base salary per episode was a cool $500,000.

$30 Million Lawsuit: What Went Wrong?

In January 2019, Media Rights Capital, the production company behind “House of Cards,” filed a lawsuit against Kevin. MRC claimed that Spacey breached the terms of his acting and producing agreements by not adhering to workplace conduct standards, including their harassment policy.

MRC sought compensation from Spacey personally for the financial losses incurred when they had to scrap the entire sixth season after filming only two episodes. They only managed to produce eight episodes instead of the 13 originally ordered by Netflix, resulting in millions in lost licensing fees.

In November 2021, Spacey was slapped with a $31 million damages order, which was upheld in August 2022. The breakdown included $29.5 million in compensatory damages and $1.5 million in legal fees and other costs. By early 2024, the debt had ballooned to $36 million with interest. But wait, there's more! In February 2024, Kevin reached a deal with MRC to testify on their behalf in a separate lawsuit against their insurance companies, Lloyds of London and Fireman's Fund, where MRC is seeking a hefty $150 million.

Kevin Spacey's Real Estate Woes

In 1997, Kevin splurged $2.135 million on a Los Feliz home in LA. The gated, 6,600-square-foot mansion on 1.1 acres was listed for $16 million in 2015 but eventually sold off-market in July 2017 for $11 million.

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In March 2001, Kevin purchased the home next door to his Los Feliz property for $1.9 million, selling it in May 2006 for $2.535 million.

Fast forward to February 2017, Kevin dropped $5.65 million on a five-story, 9,000-square-foot waterfront home in Baltimore, Maryland, to be closer to the “House of Cards” set. By mid-2022, he fell behind on his $20,000 monthly mortgage payments. By February 2023, he owed $171,727 in back payments. In July 2023, the homeowners' association slapped a $43,400 lien on the property due to his failure to pay a $2,600 monthly HOA fee for about 16 months. By August 2023, a judge allowed a debt collection agency to sell the mansion, setting a foreclosure auction for February 29, 2024. Here’s a video tour from 2016, before he bought the place:

The Early Days of Kevin Spacey

Born Kevin Spacey Fowler on July 26, 1959, in South Orange, New Jersey, Spacey grew up with two siblings. His mom was a secretary, and his dad was a technical writer who, according to Kevin, was physically abusive and harbored Nazi sympathies. The family relocated to California when Kevin was four.

In grades 10 and 11, Kevin attended military school before moving to Chatsworth High School for his senior year, where he joined the school's theater production of “The Sound of Music.” After graduation, he adopted the name Spacey and moved to New York City to attend the Juilliard School from 1979 to 1981, dabbling in stand-up comedy along the way.

Kevin Spacey's Career Highlights

Spacey's theater career began with a small role in a Shakespeare play, followed by appearances in Broadway productions like “Ghosts” in 1982. He continued to build his resume with roles in “The Misanthrope” and “Hurlyburly.” By 1986, he was a fixture in the New York theater scene with roles in “Sleuth” and “The Seagull,” culminating in a critically acclaimed performance in “Long Day’s Journey Into Night.”

After a stint on TV with “Crime Stories,” Spacey transitioned to film. While trying to make it in Hollywood, he continued performing in plays like “Lost in Yonkers” in 1991, earning a Tony Award for his performance. He also appeared in TV series such as “L.A. Crime” and “The Murder of Mary Phagan.”

His breakthrough film role came in “See No Evil, Hear No Evil” in 1989, and his reputation as a captivating character actor grew with roles in “Wiseguy” and “Glengarry Glen Ross.” Critics took notice after he starred in “The Ref” and “Swimming With Sharks,” eventually winning an Academy Award for Best Supporting Actor in “The Usual Suspects” in 1995.

That same year, he delivered an iconic performance in “Se7en” as a serial killer. The following year, he played an attorney in “A Time to Kill.” In 1998, he voiced a character in the animated film “A Bug’s Life.” In 1999, Spacey cemented his status as a Hollywood heavyweight with his incredible performance in “American Beauty,” earning another Academy Award for Best Actor and a star on the Hollywood Walk of Fame.

During the 2000s, Spacey kept racking up Tony Awards for theater performances and starred in films like “Pay It Forward” and “K-Pax.” In 2006, he was cast as Lex Luthor in “Superman Returns.” He also appeared in “21” in 2008.

The 2010s were dominated by “House of Cards,” where Spacey played Frank Underwood from 2011 until 2018, when sexual assault allegations forced him out. During his time on the show, he won numerous awards and was nominated for many more. He also worked as a producer, earning up to $20 million per year. In 2011, he played the antagonist in “Horrible Bosses” and appeared in “Billionaire Boys Club” in 2018.

In late 2022, despite the allegations against him, Spacey was set to speak at the National Museum of Cinema and receive a lifetime achievement award in January 2023. He was also cast in the British indie thriller “Control” and as the late Croatian leader Franjo Tudjman in “Once Upon a Time in Croatia.”

The Controversies Surrounding Kevin Spacey

In 2017, Spacey was accused of making inappropriate advances toward a 14-year-old boy in 1986 when Spacey was 26. He issued a public apology, attributing the behavior to alcohol, but more allegations followed. A total of 15 similar stories emerged, suggesting a pattern of misconduct. Many accusers had sons connected to the entertainment industry, including the Old Vic theater, where 20 complaints were reported, with three cases going to the police.

As a result, production on “House of Cards” was halted, and the final season was cut to eight episodes. Several of Spacey's films had to be re-shot with different actors when he was removed from the cast. He was also dropped by his agent and publicist.

In 2018, more allegations surfaced, permanently tarnishing Spacey's reputation. In 2019, a man who claimed Spacey groped him committed suicide, and three people with ties to Spacey died that year. Despite facing various court cases for sexual assault and criminal assault, all charges against Spacey have been dismissed or resulted in not guilty verdicts.

Kevin Spacey's Other Ventures

In 1997, Spacey founded his own production company, Trigger Street Productions, which was acquired by Relativity Media in 2016. He has directed several films, hosted “Saturday Night Live” multiple times, and lent his voice to video games like “Call