Early in his career, Al Pacino described his spending as a "crazy montage of loss," saying, "I had $50 million and then I had nothing."
Oscar winning actor Al Pacino didn't get into acting for the money.
In his new memoir, "Sonny Boy," the now-84-year-old reveals that he didn't closely monitor his earnings from his successful film roles, including "The Godfather" and "Scarface."
"He writes that he didn't comprehend how money and a career functioned, as they were like an unfamiliar language to him."
His finances spiraled out of control due to paying his landscaper $400,000 a year, maintaining a home he didn't live in, and unknowingly paying for 16 cars and 23 cellphones.
"The money I was spending and where it was going was a chaotic montage of losses," he says. "The door was open and strangers were living off me."
Pacino's financial problems were not solely due to his inexperience. He eventually discovered that his accountant had mismanaged his funds, leaving him broke. "I had $50 million and then I had nothing," he writes.
In his seventies, Pacino believed he wouldn't be able to earn as much money from acting as he did during his peak.
He prioritized playing relatable characters before going broke, but after running out of funds, he took any acting roles available.
"After losing his money, Pacino made "Jack and Jill" as his first film. He did it because he had nothing else. Additionally, he starred in some "really bad films" solely for the cash."
Pacino discovered a way to monetize his passion for hosting seminars.
In the early 2000s, Pacino visited colleges and universities to discuss his career, favorite books, and playwrights. He later decided to hold public seminars and found it profitable enough to sustain him for a month.
""I began traveling and discovered that they were effective. My popularity attracted audiences," he writes."
Pacino claims he never lost hope and always believed he could recover from the financial struggles he faced.
"He writes that they have the expression, 'You can't look back,' but I look back and love it. I love what I see and that I existed."
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