Kevin Spacey Net Worth (Money & Salary)

What is Kevin Spacey’s Net Worth?

Kevin Spacey, an American actor, director, screenwriter, and producer, currently has a net worth of -$2 million. At one time, his net worth soared as high as $50 million, particularly at the height of his career. However, a series of personal controversies and legal issues have severely impacted his earnings from acting. These challenges have compelled Kevin to incur substantial legal fees and judgments, significantly depleting his finances.

During a June 2024 interview with Piers Morgan, Kevin stated he was out of money, on the brink of losing his Baltimore home to foreclosure, had narrowly avoided bankruptcy multiple times in recent years, and was burdened with millions in legal debts.

In November 2021, a ruling compelled Kevin to pay $31 million to Media Rights Capital, the company behind “House of Cards,” for violating his contract through sexual misconduct on set while serving as actor and producer. This judgment was affirmed in August 2022. At that stage, it was reported that Kevin had stopped paying his mortgage on his Baltimore condo, purchased for $5.6 million in February 2017. As elaborated in the following paragraphs, a debt collection agency was authorized to conduct a foreclosure auction on the condo in February 2024. By then, his debt had ballooned to nearly $36 million with accrued interest. Nevertheless, in a surprising turn of events, Kevin purportedly struck a deal in February 2024 that would dismiss the $31 million judgment, provided he assisted in MRC’s lawsuit against the insurance company of the show.

Widely recognized for his exceptional performances, Kevin Spacey famously starred in films such as “The Usual Suspects” (1995), for which he won the Academy Award for Best Supporting Actor, and “American Beauty” (1999), which earned him the Academy Award for Best Actor. His acting range is evident from his roles in various films including “Seven” (1995), “L.A. Confidential” (1997), and “K-PAX” (2001). In addition, Spacey had a notable tenure as the artistic director of London’s Old Vic Theatre from 2004 to 2015, performing in productions like “Richard III” and “Inherit the Wind.” Yet, Kevin’s career faced significant setbacks following multiple sexual misconduct allegations that surfaced in 2017, resulting in his dismissal from “House of Cards” and other projects.

House of Cards Salary

During the peak of his career, specifically in the early 2000s and throughout the “House of Cards” period (2013 – 2018), Kevin could command $10 million for leading roles in major films and $5 million for supporting roles. His work as both actor and producer on “House of Cards” enabled him to earn $20 million per season in the later seasons, with a base salary of $500,000 per episode.

$30 Million Damages Lawsuit

Media Rights Capital, the production company behind “House of Cards,” filed a lawsuit against Kevin in January 2019. MRC’s allegations included:

“…breached provisions of both the Acting and Executive Producing Agreements that set standards for his workplace conduct, including violating MRC’s Harassment Policy.”

MRC’s lawsuit sought compensation directly from Spacey for the financial damages incurred after having to abort the entire sixth season following the filming of just two episodes. Additionally, MRC contended that in their haste to rectify the situation, they only managed to produce eight episodes for the sixth season, five fewer than Netflix had contracted for. This resulted in significant losses in licensing fees for MRC due to their inability to fulfill a complete season.

In November 2021, Spacey
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Ordered to pay $31 million in damages, the judgment was upheld in August 2022. This award consisted of $29.5 million designated for compensatory damages along with an additional $1.5 million for legal fees and other expenses.

By the beginning of 2024, the debt had escalated to $36 million due to interest. In a surprising development, Kevin struck a deal with MRC in February 2024, agreeing to testify on the production company’s behalf in a separate lawsuit targeting MRC’s insurance providers, Lloyds of London and Fireman’s Fund. Reportedly, MRC is pursuing $150 million in this lawsuit.

Real Estate/Financial Problems

In 1997, Kevin acquired a home in LA’s Los Feliz neighborhood for $2.135 million. This 1.1-acre estate includes a 6,600-square-foot residence enclosed by gates and dense shrubbery. In 2015, Kevin discreetly listed this property for $16 million but ultimately completed an off-market sale in July 2017 for $11 million.

In March 2001, he purchased the house next door to his Los Feliz property for $1.9 million. This property was sold by him in May 2006 for $2.535 million.

In February 2017, Kevin invested $5.65 million in a five-story, 9,000-square-foot waterfront residence in Baltimore, Maryland. The condo was bought to facilitate his proximity to the filming location of “House of Cards.” At that time, it was one of the highest prices paid for a residence in Inner Harbor. By mid-2022, reports indicated that Kevin was falling behind on his $20,000 monthly mortgage. By February 2023, he was approximately $171,727 in arrears on the mortgage. Subsequently, in July 2023, the HOA filed a lien of $43,400 against the property, apparently due to his failure to pay a $2,600 monthly HOA fee for about 16 months. In August 2023, a judge permitted a debt collection agency to proceed with the sale of the mansion. The property is scheduled for a foreclosure auction on February 29, 2024. A video tour from 2016, prior to his acquisition of the property, can be viewed below:

Early Life

Kevin Spacey Fowler, known as Kevin Spacey, was born on July 26, 1959, in South Orange, New Jersey. He grew up with two siblings, raised by his mother, who worked as a secretary, and his father, a technical writer. The family relocated to California when Kevin was four years old. He has shared that he suffered physical abuse at the hands of his father, who was a Nazi sympathizer and racist.

During grades 10 and 11, Kevin attended military school. In his final year of high school, he transferred to Chatsworth High School, where he participated in the theater production of “The Sound of Music.” After graduation, he adopted the name Spacey and moved to New York City to study at the Juilliard School. While studying there from 1979 to 1981, he attempted to break into the stand-up comedy scene.

Career

Early success in theater was found by Spacey. Following a minor role in a Shakespearean play, he took part in the Broadway production of “Ghosts” in 1982. Additional roles followed in “The Misanthrope” and “Hurlyburly.” By 1986, he had made a name for himself in the New York theater scene, contributing to Broadway productions like “Sleuth” and “The Seagull.” His significant breakthrough occurred later that same year with a role in the highly praised production of “Long Day’s Journey Into Night.”

Following a brief stint in television with “Crime Stories,” Spacey shifted his focus to film. While attempting to make a mark in Hollywood, he continued to perform in various plays, including “Lost in Yonkers” in 1991, for which he won a Tony Award. Additionally, he made appearances in TV series such as “L.A. Crime” and “The Murder of Mary Phagan.”

Spacey made his first major film appearance in “See No Evil, Hear No Evil” in 1989. His acting prowess quickly garnered recognition, establishing him as a captivating character actor in series like “Wiseguy” from 1989 and films such as “Glengarry Glen Ross” in 1992. Critics took note as he starred in movies like “The Ref” and “Swimming With Sharks,” culminating in him winning an Academy Award for Best Supporting Actor in 1995’s “The Usual Suspects.”

That same year, he delivered one of his most memorable performances as a serial killer in “Se7en.” The next year, he portrayed an attorney in “A Time to Kill,” which was equally striking. In 1998, he lent his voice to a key role in the animated feature “A Bug’s Life.” By 1999, Kevin Spacey solidified his status as one of Hollywood’s brightest stars with an outstanding performance in “American Beauty,” earning an Academy Award for Best Actor and a star on the Hollywood Walk of Fame.

During this period, Spacey continued to win Tony Awards for his theater work and kicked off the 2000s with parts in “Pay it Forward” and “K-Pax.” He demonstrated an excellent fit for the role of Lex Luthor in “Superman Returns” in 2006. His appearances included a role in the 2008 film “21.”

Though he remained profoundly connected to theater in the following years, the 2010s revolved around “House of Cards” for Spacey. Beginning in 2011, he embodied Frank Underwood until 2018 when he was compelled to exit the cast owing to sexual assault allegations. Throughout his tenure on the show, he received numerous awards and was nominated for many others. Additionally, he began working as a producer on the series in 2013, achieving a peak salary of $20 million annually. In 2011, he also took on the role of the antagonist in “Horrible Bosses” and appeared in “Billionaire Boys Club” in 2018.

In November 2022, reports surfaced indicating that Spacey was scheduled to speak at the National Museum of Cinema despite ongoing allegations and to receive a lifetime achievement award in January 2023. After prevailing in a sexual battery lawsuit against him, Kevin Spacey was cast in the British indie thriller “Control” in late 2022. That same year, he was also selected to portray the late Croatian leader Franjo Tudjman in “Once Upon a Time in Croatia.”

Controversy

In 2017, allegations emerged that Kevin Spacey had made sexual advances toward a 14-year-old boy in 1986 when Spacey was 26 years old. A public statement by Spacey suggested that alcohol played a role, yet further allegations continued to surface. Ultimately, 15 similar accounts indicated a longstanding pattern of this behavior by Spacey. Many accusers had sons involved in the entertainment sector, including the Old Vic theater. Representatives from the Old Vic revealed that 20 complaints had been made, with three individuals reporting Spacey to law enforcement.

This led to a suspension of the “House of Cards” production, resulting in the final season being reduced to eight episodes. Additionally, numerous films featuring Spacey needed to be re-cast with different actors after he was removed from the cast. Subsequently, he lost both his agent and publicist.

In 2018, the stream of accusations continued, cementing the lasting damage to Spacey’s reputation. The following year, a man who had claimed Spacey groped him took his own life. That year, three individuals connected to Spacey passed away. Despite facing several court cases regarding sexual and criminal assault, all charges against Spacey concluded without legal repercussions. Three charges were dismissed prior to or during the trial, which commenced in June 2023, and in July 2023, a jury acquitted Spacey of the remaining allegations.

Other Ventures

Kevin Spacey founded his own production company, Trigger Street Productions, in 1997. In 2016, Relativity Media acquired Trigger Street Productions. Additionally, Spacey has taken on directing roles for various films. He has also hosted “Saturday Night Live” multiple times. Spacey lent his voice to video games, most notably “Call of Duty: Advanced Warfare.” In 2003, he became the artistic director of the Old Vic Theater in London.

Personal Life

For many years, Spacey maintained a largely private personal life. He stated in a 1998 interview, “The less you know about me, the easier it is to convince you that I am that character on screen. It allows an audience to come into a movie theater and believe I am that person.”

In October 2017, actor Anthony Rapp accused Spacey of inappropriate behavior when he was 14. This allegation prompted Spacey to issue an apology, during which he came out as a gay man. The timing of this revelation was contentious because it coincided with his apology for advances toward a minor. Many critics deemed it bizarre how he linked his homosexuality with pedophilia. However, in November 2022, Spacey triumphed in the sexual battery lawsuit brought forth by Rapp.