Kevin Spacey is an American actor and producer known for his roles in both film and theater. He gained significant fame for his performance in movies such as “American Beauty,” for which he won an Academy Award for Best Actor, and “The Usual Suspects,” which earned him an Academy Award for Best Supporting Actor. Spacey is also known for his role as Frank Underwood in the television series “House of Cards.” However, his career was significantly impacted by allegations of sexual misconduct that emerged in 2017, leading to legal battles and a notable decline in his professional engagements.
| Name | Kevin Spacey |
| Age | 64 years |
| Birthday | July 26, 1959 |
| Gender | Male |
| Sexuality | Gay |
| Net worth | $70 million |
| Profession | American actor |
Table of Contents
Networth
Kevin Spacey is a well-known American actor, director, screenwriter, and producer with a net worth of $20 million. However, his net worth has decreased over the years due to personal controversies that have effectively ended his career and his ability to earn significant acting paychecks. In the past, his net worth was estimated to be as high as $70-80 million.
In November 2021, Kevin was ordered to pay Media Rights Capital, the production company behind “House of Cards,” $31 million in damages for breaching his contract by engaging in sexual misconduct on set while working as both an actor and producer. This judgment was upheld in August 2022. By that point, Kevin was reportedly no longer paying his mortgage on a $5.6 million Baltimore condo, which he purchased in February 2017. As a result, a debt collection agency was granted permission to hold a foreclosure auction on the condo in February 2024.
By that time, his debt had grown to nearly $36 million with interest. However, in February 2024, Kevin reportedly reached a deal that would wipe out the $31 million judgment on the condition that he cooperated in Media Rights Capital’s lawsuit against the show’s insurance company, which was a surprising twist.
Kevin Spacey’s $30 Million Damages Lawsuit
In January 2019, Kevin Spacey was sued by Media Rights Capital, the production company behind “House of Cards”. The lawsuit alleged that Kevin had breached provisions of both the Acting and Executive Producing Agreements, which set standards for his workplace conduct, including the breach of MRC’s Harassment Policy.
The lawsuit sought compensation directly from Kevin for the financial damages incurred by MRC, which had to scrap the entire sixth season after filming two episodes. Furthermore, MRC claimed that in the scramble to right the ship, it only had enough time to produce eight episodes for the sixth season, five fewer than Netflix had ordered. As a result, MRC lost millions in licensing fees by not being able to deliver a full season.
In November 2021, Kevin Spacey was ordered to pay $31 million in damages, and the judgment was upheld in August 2022. The award included $29.5 million in compensatory damages and an additional $1.5 million in legal fees and other costs.
As of early 2024, the debt had increased to $36 million due to interest. However, in a surprising turn of events, in February 2024 Kevin reached an agreement with MRC. In this agreement, he would testify on the production company’s behalf in a separate lawsuit against MRC’s insurance companies, Lloyds of London and Fireman’s Fund. MRC is reportedly seeking $150 million in that lawsuit.
Real Estate and Financial Problems
Kevin purchased a home in LA’s Los Feliz neighborhood in 1997 for $2.135 million. The property spans over 1.1 acres with a 6,600-square-foot house that is concealed with gates and thick shrubbery. In 2015, Kevin quietly listed the property for $16 million but ended up selling it in an off-market deal for $11 million in July 2017. In March 2001, Kevin purchased the home next to his Los Feliz property for $1.9 million and sold it in May 2006 for $2.535 million.
Source: Architectural Digest
In February 2017, Kevin bought a five-story, 9,000-square-foot waterfront home in Baltimore, Maryland for $5.65 million. He bought the condo to be close to the studio where “House of Cards” was filmed. At the time, it was one of the most expensive properties in the Inner Harbor area.
In 2017, Clear Toaster LLC purchased a home that was linked to Spacey. For several years, it was unclear who the true owner of the property was. Recently, the actor revealed that he had purchased the Baltimore property with the intention of making it his permanent residence.
However, by mid-2022, Kevin had reportedly missed several of his monthly mortgage payments of $20,000, and by February 2023, he was behind by $171,727. In July 2023, the Homeowners Association (HOA) filed a $43,400 lien against the property because Kevin had not paid his HOA fee of $2,600 per month for about 16 months. As a result, a judge granted a debt collection agency the right to sell the mansion in August 2023. The property will be put up for foreclosure auction on February 29, 2024.
Early Life and Education of Kevin Spacey
Kevin Spacey was born on July 26, 1959, in South Orange, New Jersey, USA. He was raised in a family with a troubled history; his father was reported to be a strict disciplinarian and difficult to live with. Spacey grew up mostly in Southern California, where he attended Northridge Military Academy and later Chatsworth High School in the San Fernando Valley, where he also starred in the school’s stage productions alongside fellow student Mare Winningham.
Spacey began his career in the performing arts during his high school years and later attended Juilliard School in New York City to study drama. This period marked the beginning of his serious pursuit of a career in acting, leading him eventually to Broadway and then to the film and television industries. His early life, marked by a passion for acting and some personal challenges, set the stage for his complex career trajectory.
Controversies
In 2017, Kevin Spacey faced accusations of making sexual advances towards a 14-year-old boy in 1986 when he was 26. Spacey’s public statement, which placed blame on alcohol, did little to quell the allegations. Instead, 15 similar stories emerged, painting a picture of Spacey’s disturbing behavior. Shockingly, many of the victims had sons connected to the entertainment industry, including the Old Vic theater.
The theater confirmed that 20 people had complained, with three reporting Spacey to the police. The severity of these allegations highlights the importance of holding those in power accountable for their actions, no matter how famous they may be.
Due to the allegations of sexual misconduct against Kevin Spacey, the production of “House of Cards” was halted, and the final season was shortened to just eight episodes. Additionally, many of Spacey’s films had to be re-shot with different actors after he was asked to leave the cast. Later, he was abandoned by his agent and his publicist.
Throughout 2018, numerous allegations continued to emerge against Kevin Spacey, and it became evident that his reputation had been irreparably damaged. In 2019, a man who claimed that Spacey had groped him took his own life. That same year, three individuals with links to Spacey passed away. Despite facing multiple court cases for sexual and criminal assault, the actor has not faced any legal repercussions. Three charges were dismissed either before or during the trial that began in June 2023. In July 2023, a jury declared Spacey not guilty of the remaining charges.
Relationships
Kevin Spacey has not publicly disclosed details about his personal relationships extensively, and there are no well-documented relationships of him with specific individuals over long periods. His personal life has remained largely private, and he has chosen not to share this aspect with the public or media.
Awards
Over his illustrious career of more than a decade, Kevin Spacey has been the recipient of several prestigious awards, including two Academy Awards, a Tony Award, and a Golden Globe Award. He was nominated for a Grammy Award and twelve Primetime Emmy Awards. In 1999, Spacey was bestowed with a star on the Hollywood Walk of Fame, recognizing his remarkable contributions to the entertainment industry.
In the year 2010 and 2015, he was honored with the distinguished titles of an honorary Commander and Knight Commander of the Order of the British Empire respectively, a testament to his exceptional talent and accomplishments.
Some of his awards are:
- Academy Award for Best Actor (2000)
- Academy Award for Best Supporting Actor (1996)
- BAFTA Award for Best Actor in a Leading Role(2000)
- Screen Actors Guild Award for Outstanding Performance by a Cast in a Motion Picture(2000)
- Screen Actors Guild Award for Outstanding Performance by a Male Actor in a Drama Series(2016,2015)
- London Film Critics’ Circle Award for Actor of the Year(1999)
- Young Hollywood Award for Role Model(2002)
- Golden Globe Award for Best Performance by an Actor in a Television Series – Drama(2015)
- Laurence Olivier Award for Best Actor(1999)
- Outer Critics Circle Award for Outstanding Actor in a Play(1999)
Most Asked Questions
What is Kevin Spacey known for?
Kevin Spacey is known for his acting roles in films like “American Beauty” and “The Usual Suspects,” for which he won Academy Awards, and for his role as Frank Underwood in the TV series “House of Cards.”
What happened to Kevin Spacey’s career?
Kevin Spacey’s career was significantly impacted following allegations of sexual misconduct that surfaced in 2017. This led to him being removed from projects like “House of Cards” and facing various legal challenges.
Has Kevin Spacey been convicted of any crimes?
As of the last update, Kevin Spacey has not been convicted of any crimes. He has faced multiple charges and legal proceedings, some of which have been dropped, and others are still ongoing, particularly in the United Kingdom.
Did Kevin Spacey win any major awards?
Yes, Kevin Spacey has won two Academy Awards: Best Supporting Actor for “The Usual Suspects” in 1995, and Best Actor for “American Beauty” in 1999.
Is Kevin Spacey still acting?
Kevin Spacey has seen a significant decrease in mainstream roles since the allegations against him. However, he has taken on some projects, primarily outside of Hollywood, including international films and stage productions.
How did Kevin Spacey respond to the allegations against him?
Kevin Spacey issued a statement apologizing to Anthony Rapp, the first to accuse him of misconduct, if he did indeed behave as accused, although he claimed not to remember the incident. He also came out as gay in the same statement, which was widely criticized.
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