Al Pacino New Memoir Reveals He Was Broke Again At 70: ‘I Was Broke. I Had $50 Million and Then I Had Nothing’

Diddly Drogba

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Al Pacino writes in his recently-published memoir “Sonny Boy” that he was forced to make dramatic career changes after losing all of his money due to a corrupt accountant who eventually served seven and a half years in prison for running a Ponzi scheme. The accountant mismanaged the Oscar winner’s funds, bringing Pacino’s savings from a staggering $50 million to zero dollars.

According to Pacino, it was in 2011 when he started “to get warnings that my accountant at the time, a guy who had lots of celebrity clients, was not to be trusted.” The actor was already paying “a ridiculous amount of money to rent some big fancy house in Beverly Hills,” and then he took his entire family on a trip to Europe where he flew various guests overseas “on a gorgeous Gulfstream 550” and “rented out a whole floor of the Dorchester hotel in London.”
When Pacino returned to his Hollywood home, he became suspicious after realizing his finances had not dramatically changed despite spending so much on vacation. “And I thought, It’s simple. It’s clear. I just know this. Time stopped. I am fµcked,” he writes

“I was broke. I had $50 million, and then I had nothing. I had property, but I didn’t have any money,” Pacino remembers about finally looking into his finances. “In this business, when you make $10 million dollars for a film, it’s not $10 million. Because after the lawyers, and the agents, and the publicist, and the government, it’s not $10 million, it’s $4.5 million in your pocket. But you’re living above that because you’re high on the hog. And that’s how you lose it. It’s very strange, the way it happens. The more money you make, the less you have.”

“The kind of money I was spending and where it was going was just a crazy montage of loss,” he adds. “The landscaper was getting $400,000 a year and, I don’t exaggerate these things. It just went on and on. Mind you, that was for landscaping at a house I didn’t even live in.

 

King Poetic

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To all you new comers out here in LA/Hollywood that’s lurking the coli

Hollywood executives and agents in the industry first thing they do to you is find your weaknesses… rather p*ssy, dikk:dame:, drugs , etc etc and invite you around those same circles and they go from there to make sure the money you make that they can have access to your account because you know you too busy to worry about your finances..

fukk the parties fukk the bullshyt

Stay focused on your money and balance
 
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