Al Pacino, in his memoir Sonny Boy, shares a shocking revelation: he lost $50 million in a Ponzi scheme orchestrated by his corrupt accountant.
The Oscar-winning actor’s finances spiralled out of control, forcing him to reassess his career choices.
“I had $50 million, and then I had nothing,” Pacino writes, recalling the devastating aftermath. In 2011, warnings surfaced about his accountant’s shady dealings, but it was too late.
Pacino admits to overspending and poor financial management. “In this business, when you make $10 million dollars for a film, it’s not $10 million… After the lawyers, agents, publicist, and government, it’s four and a half in your pocket.”
He describes his financial downfall as “a crazy montage of loss… I thought, ‘It’s simple. It’s clear. I just know this. Time stopped. I am f****d.'”
To recover, Pacino took on unexpected roles, including Adam Sandler’s Jack and Jill. “Jack and Jill was the first film I made after I lost my money… Adam Sandler wanted me, and they paid me a lot for it.”
Despite his admiration for Sandler, Pacino struggled to find substantial roles as he aged. “I wasn’t a young buck anymore… I was not going to be making the kind of money from acting in films that I had made before.”
To supplement his income, Pacino began doing commercials and charging for college seminars. “The big paydays that I was used to just weren’t coming around anymore. The pendulum had swung.”
