Kevin Bacon has a career spanning over 40 years, with no sign of his natural acting talents diminishing. From teen comedy Footloose to the harrowing drama Mystic River, he is one of the best stars of his generation. As a highly acclaimed actor, he accumulated a vast amount of money and was once worth a whopping $100 million.
But Hollywood stars are not immune to going broke, and sadly Bacon is one of many stars who lost a fortune due to a Ponzi scheme. Thankfully, the star has now bounced back after a grueling decade: here’s how Kevin Bacon did it.
Updated on November 21, 2022: Kevin Bacon has been busy in Hollywood this year. Not only does he star in three films, one short, and a television series that released another season this year (City on a Hill), but there are also four productions of which he was cast that are in various stages of production, including the Guardians of the Galaxy upcoming Holiday Special. This year he has also worked as a producer on three projects.
10/10 How Did Kevin Bacon Lose All His Money?
Kevin Bacon is associated with the game “Six degrees of Kevin Bacon,” which argues that any actor can be linked to Bacon in 6 steps or less due to his impressive filmography. How ironic, then, that Bacon was at the heart of Bernie Madoff’s Ponzi scheme.
Madoff tricked clients by paying profits to earlier investors with money invested by the most recent backers. Accordingly, Bacon and his wife, Kyra Sedgwick, lost millions to the scheme in 2009.
9/10 The Road To Recovery Was Rocky
Left destitute by the Ponzi scheme, Bacon struggled to recover from the cataclysmic loss; But he tried to look on the bright side in spite of losing everything.
“It was a bad day. But pretty quickly we were able to see all the things we had as opposed to whatever we lost, and those are the biggest clichés: children, health, love, a nice home.” he told The Guardian, adding, “I don’t think about Madoff, like, at all.”
8/10 Kevin Bacon Found Himself In British TV Ads
In an effort to make some much-needed cash, Bacon began doing TV ads in the U.K. British viewers were surprised to see the Hollywood A-lister in ads for cell phone network EE in 2012, and he has continued to star in the TV advertisements ever since.
7/10 Kevin Bacon Landed A Role In The MCU
These days, one of the best ways to bounce back as an actor is to secure a role in the Marvel Cinematic Universe. Accordingly, Bacon starred in 2011’s X-Men: First Class as super villain Sebastian Shaw. The movie grossed over $353 million at the box office, though he hasn’t returned for his role in any subsequent X-Men movies.
6/10 Which High Grossing Movie Helped Him Recoup His Losses?
That same year, Bacon featured in the romantic comedy Crazy, Stupid, Love alongside Steve Carrell, Ryan Gosling, and Emma Stone. As with many of his roles, Bacon plays the main antagonist of the movie, which he does so well! The flick was a box office hit, grossing $145 million against a budget of $50 million, so Bacon likely received a mighty paycheck for his role, which definitely contributed to regaining the millions he lost years prior.
5/10 Kevin Bacon Began To Venture Into Television
In 2013, Kevin Bacon ventured into television with a starring role on the Fox crime series The Following. Unfortunately, the reaction to the show was mixed, and it ran for 3 seasons before being canceled. While critics praised Bacon’s performance, they were less enthusiastic about the farfetched plot devices.
“Dear Kevin Bacon, you can stop all this. You can just say you’re not going to film any additional episodes of The Following, and I’m pretty sure Fox would have to let the show go. Say you want to spend more time with your family,” wrote TV.com.
4/10 Kevin Became The Egg Spokesman
Kevin Bacon is now the official spokesman for eggs. Yes, really. In 2015, he was appointed the spokesman for the U.S. egg industry. This marks the first time a celebrity has been enlisted to help sell eggs.
It’s a smart move for Bacon; not only do the commercials help to re-popularize his image following the Madoff scandal, but they also exhibit his fun side (seeing as he routinely plays brutes on screen). Not to mention, his last name sort of goes hand-in-hand with eggs, considering the two pair great for breakfast.
3/10 Amazon Prime Video Helped Kevin Bounce Back
Amazon Prime Video is always a useful tool for stars trying to bounce back. Look no further than fellow broke celebrity Gary Busey, who can be seen in Amazon’s original Gary Busey: Pet Judge.
In 2016, Bacon starred in I Love Dick, which is somewhat less silly than Gary Busey’s show, despite its provocative title. The show was created by acclaimed Transparent creator Joey Soloway, and Bacon stars as a charismatic academic who captivates a married woman.
2/10 Kevin Bacon Received A Pay-Out
In 2017, almost a decade after he was defrauded, Kevin Bacon received a victims’ pay-out alongside the other cheated investors. Having stolen an estimated $64.8 billion from investors, Bernie Madoff’s venture was the biggest Ponzi scheme in history.
However, Bacon won’t be receiving all the money he lost; at most, he can expect to recoup 75% of his losses, though the figure is likely less than that.
1/10 Kevin Bacon’s Net Worth Is $45 Million
After all his financial struggles and attempts to bounce back, Kevin Bacon still hasn’t been able to regain his $100 million net worth. However, he now has a net worth of $45 million, which is certainly still impressive, even if it’s a mere fraction of what he once had.
Next: This Actor Tried Suing Disney For Over $100 Million