Nicolas Cage Accepted 'Crummy' Roles to Pay Debt

Oscar-winner Nicolas Cage is shedding light on why he has taken on some "crummy" acting roles.

Appearing Sunday on CBS' "60 Minutes," Cage said he was $6 million in debt after the real estate market crashed in 2008.

"I was over-invested in real estate. ... The real estate market crashed, and I couldn't get out in time," said Cage, 59. "I paid them all back, but it was about $6 million. I never filed for bankruptcy."

The "Renfield" star defended the string of direct-to-video movies he appeared in during that time period, saying, "Even if the movie ultimately is crummy, they know I'm not phoning it in, that I care every time."

Last year, during an interview with GQ, Cage shared a similar story.

"When I was doing four movies a year, back to back to back, I still had to find something in them to be able to give it my all. They didn't work, all of them. Some of them were terrific, like 'Mandy,' but some of them didn't work," he said. 

"But I never phoned it in. So if there was a misconception, it was that. That I was just doing it and not caring. I was caring."

Cage also opened up about the topic in 2019 with The New York Times Magazine. 

"I can't go into specifics or percentages or ratios, but yeah, money is a factor. I'm going to be completely direct about that. There's no reason not to be," he said at the time. "There are times when it's more of a factor than not. I still have to feel that, whether or not the movie around me entirely works, I'll be able to deliver something and be fun to watch.

"But yes, it's no secret that mistakes have been made in my past that I've had to try to correct.

"Financial mistakes happened with the real estate implosion that occurred, in which the lion's share of everything I had earned was pretty much eradicated. But one thing I wasn't going to do was file for bankruptcy."

Cage added that he had "this pride thing where I wanted to work my way through anything."

"Not all the movies have been blue chip, but I've kept getting closer to my instrument," he said. "And maybe there's been more supply than demand, but on the other hand, I'm a better man when I'm working.

"I have structure. I have a place to go. I don't want to sit around and drink mai tais and Dom Pérignon and have mistakes in my personal life. I want to be on set. I want to be performing."

• Nicolas Cage Never Broke Character on 'Renfield'
• Nicolas Cage Was Convinced He Was an 'Alien' as a Child