Posted by Adam

Saturday November 7, 2009

NICOLAS Cage‘s penchant for the finer things in life led him down the road of financial ruin, according to an interesting new report.

The Daily Beast says Cage has purchased more than a dozen houses, two islands, dinosaur skulls, shrunken heads and at least 50 cars.

“[He] spent money like it was water,” a source said.

The actor has bought houses in places like Newport Beach, Venice Beach, Malibu, San Francisco, Middletown, Rhode Island, New York, and Las Vegas. He even owned a castle near Bath, England, an 11th-century estate in Etzelwang, Germany and two Bahamian islands.

Cage also liked to party.

“The Christmas party in the tent at Nicolas Cage’s mansion was a major to-do,” according to The Daily Beast. “The pool was covered up. Blocks of ice were brought in and carved into a buffet table, from which an extravagant array of shellfish was served. A production crew blew fake snow. There were enormous nutcracker men, 8- to 10-feet-tall, out by the gate in front of the house. Lighting specialists came by and illuminated Cage’s favorite cars, which sat on display in the driveway. Guests at the December 2003 event included Hugh Hefner and Jay Leno, who later called it the greatest Christmas party he’d ever been to.”

In 2005, Cage gave $1 million to the Red Cross to aid victims of Hurricane Katrina. In 2006, Amnesty International announced that Cage was giving the organization $2 million.

Cage is currently liquidating much of his vast real-estate empire and blaming his financial woes on his ex-manager, whom he’s sued for $20 million.

The star claims in court papers that Samuel J. Levin, his former business manager, is at fault for his financial troubles, giving bad advice that put the actor on a path to his financial ruin. He is seeking $20 million in damages.

Tags: nicolas cage