Kevin Spacey Net Worth (Money & Salary)

Exploring Kevin Spacey’s Net Worth

An American actor, director, screenwriter, and producer, Kevin Spacey’s financial standing currently reflects a net worth of -$2 million. His wealth was notably higher previously, potentially reaching $50 million during the peak of his career. However, due to personal controversies and legal issues, his current financial situation has severely dwindled, leading to extensive expenses on legal matters.

During a June 2024 conversation with Piers Morgan, Spacey revealed his dire financial state, noting imminent foreclosure on his Baltimore property, ongoing battles with bankruptcy, and considerable legal debts.

In November 2021, Spacey was directed to compensate the “House of Cards” production company, Media Rights Capital, $31 million for violating his contract through inappropriate behavior on set. This ruling was confirmed in August 2022. By this time, Spacey had reportedly ceased mortgage payments on a $5.6 million condo purchased in February 2017, with his debt ballooning to nearly $36 million including interest. Subsequently, in February 2024, a deal was struck to erase the $31 million debt contingent upon Spacey’s cooperation in MRC’s lawsuit against the show’s insurers.

Spacey has received critical acclaim for his roles in films like “The Usual Suspects” (1995) – earning him an Academy Award for Best Supporting Actor, and “American Beauty” (1999) – for which he won an Academy Award for Best Actor. His versatility is evident in movies such as “Seven” (1995), “L.A. Confidential” (1997), and “K-PAX” (2001). In addition, his leadership at London’s Old Vic Theatre from 2004 to 2015, where he appeared in productions like “Richard III” and “Inherit the Wind,” is noteworthy. However, Spacey’s career faced setbacks following multiple sexual misconduct allegations in 2017.

Earnings from “House of Cards”

During the early 2000s and through his tenure on “House of Cards” (2013 – 2018), Spacey commanded impressive fees: up to $10 million for leading roles in major films and $5 million for supporting parts. His involvement in acting and producing on “House of Cards” saw him earn $20 million per season in later years. Notably, his per-episode salary stood at $500,000.

$30 Million Lawsuit for Damages

In January 2019, Media Rights Capital filed a lawsuit against Spacey, citing breaches of conduct policies outlined in his acting and executive producing agreements. This legal action demanded direct compensation from Spacey for financial losses incurred due to abandoning the sixth season. Moreover, MRC claimed production constraints led to only eight episodes, missing Netflix’s full-season order and resulting in substantial licensing fee losses.

In November 2021, Spacey was instructed to settle a $31 million payment to MRC.

In August 2022, the judgment upholding a $29.5 million compensatory damages award along with $1.5 million for legal fees and other costs was confirmed. By early 2024, the debt had increased to $36 million with interest. Kevin surprised everyone in February 2024 by striking a deal with MRC. In this agreement, he agreed to testify on MRC’s behalf in a lawsuit against their insurance companies, seeking $150 million in damages.

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Real Estate/Financial Problems

Having purchased a home in LA’s Los Feliz neighborhood for $2.135 million in 1997, Kevin later sold it in 2017 for $11 million after listing it for $16 million in 2015. In March 2001, he acquired the property next door for $1.9 million, later selling it for $2.535 million in May 2006.

Additionally, in February 2017, Kevin bought a five-story, 9,000-square-foot waterfront home in Baltimore for $5.65 million. Facing financial challenges, he fell behind on mortgage payments and HOA fees, resulting in a court granting a debt collection agency permission to auction the property in February 2024.

Watch the video tour of the property from 2016:

Early Life

Kevin Spacey Fowler, born on July 26th, 1959, in South Orange, New Jersey, grew up with two siblings under the care of his mother, a secretary, and his father, a technical writer. His childhood was marked by family relocation to California, where he shared his experience of physical abuse from his father.

During high school, he attended military school before pursuing theater at Chatsworth High School and later at the Juilliard School in New York City, where he explored stand-up comedy.

Career

With a flourish in theater, Kevin Spacey’s career took off early with roles in Shakespearean plays. His success continued with performances in Broadway productions such as “Ghosts,” “The Misanthrope,” and “Hurlyburly.” By the mid-’80s, he had solidified his reputation in the New York theater scene through roles in Broadway hits like “Sleuth” and “The”.

Later that year, he experienced a real breakthrough with a role in the critically acclaimed production of “Long Day’s Journey Into Night.”

Transitioning briefly into the television world with “Crime Stories,” Spacey then shifted his focus toward film. While striving to establish himself in Hollywood, he continued to showcase his talents in a variety of plays, including his role in “Lost in Yonkers” in 1991, which earned him a Tony Award. Additionally, he made appearances in TV series such as “L.A. Crime” and “The Murder of Mary Phagan.”

In 1989, Kevin Spacey landed his first significant film role in “See No Evil, Hear No Evil.” His skills as an actor were soon acknowledged, leading him to become recognized as a captivating character actor in series like 1989’s “Wiseguy” and films such as 1992’s “Glengarry Glen Ross.” Following his performances in movies like “The Ref” and “Swimming With Sharks,” he eventually clinched an Academy Award for Best Supporting Actor for his part in 1995’s “The Usual Suspects.”

The same year, he made one of his most iconic appearances in the film “Se7en” as a serial killer. The subsequent year, Spacey delivered an equally memorable performance as an attorney in “A Time to Kill.” In 1998, he lent his voice to a prominent role in the animated film “A Bug’s Life.” By 1999, Kevin Spacey had solidified his position as one of Hollywood’s most talented stars with an outstanding portrayal in “American Beauty,” earning him an Academy Award for Best Actor and a star on the Hollywood Walk of Fame.

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Continuing to receive Tony Awards for his theatrical performances, Spacey entered the 2000s with roles in films like “Pay it Forward” and “K-Pax.” In 2006, he portrayed Lex Luthor in “Superman Returns” with great success. Furthermore, he appeared in the film “21” in 2008.

Throughout the following years, although deeply involved in theater, Spacey’s focus in the 2010s predominantly centered on “House of Cards.” Beginning in 2011, he portrayed Frank Underwood until 2018, when he departed from the show due to allegations of sexual assault. During his tenure on the series, Spacey garnered numerous awards and nominations. From 2013, he also took on the role of producer, earning a peak salary of $20 million per year. In 2011, Spacey ventured into the film “Horrible Bosses,” playing the antagonist. He also appeared in “Billionaire Boys Club” in 2018.

In November 2022, reports emerged that Spacey was scheduled to speak at the National Museum of Cinema and be honored with a lifetime achievement award in January 2023, despite the allegations against him. Following his victory in a sexual battery lawsuit, Spacey secured a role in the British indie thriller “Control” in late 2022. That same year, he was cast as the late Croatian leader Franjo Tudjman in “Once Upon a Time in Croatia.”