Al Pacino once had $50 million in the bank. Then, in his 70s, he discovered that he was BROKE.
In his new book “Sonny Boy”, Pacino says a corrupt accountant mismanaged his money for YEARS. He also never had as much money on hand as he thought he did.
Quote, “In this business, when you make $10 million 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.”
Adam Sandler’s “Jack and Jill” was the first movie he made after he went broke, and he freely admits he did it for the money. Apparently, it was a lot.
But he says, quote, “I love Adam, he was wonderful to work with and has become a dear friend. He also just happens to be a great actor and a hell of a guy.”
Pacino’s accountant was eventually found guilty of running a Ponzi scheme, and spent seven and a half years in prison for it.
Al is 84 now.