Late Michael Madsen's financial woes, eviction fears

News.com.au

19 hours ago

Michael Madsen's final days were filled with anxiety over his finances and possibly losing his house before he was found dead in the property.
The Hollywood star had dark final years, but was also ready to turn his life around, the source told The US Sun.
The insider, who worked with the 'Reservoir Dogs' actor on a project in recent months, was in touch with the actor as recently as June 10.
'He called me on June 10 and said, 'I'm getting evicted from my house,' and he was asking me for $10,000 ($A15,200) to help him out.'
The insider alleged that Michael was also trying to sell old cars to make money in his final months.
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Financial Struggles
According to Celebrity Net Worth, Madsen's net worth was around $US500,000 ($A762,000) at the time of his death.
During his career, the 'Kill Bill' star experienced some financial problems.
In 2009, Madsen filed for bankruptcy and was sued by a former landlord for racking up $US80,000 ($A122,000) worth of unpaid rent on a house in Malibu.
At the time, the iconic actor was almost $US4 million ($A6.1 million) in the hole. He claimed his net monthly income was just $US3,300 ($A5,000).
According to bankruptcy documents, Madsen owed $US1 million ($A1.5 million) to friend and collaborator Quentin Tarantino.
He also borrowed $US25,000 ($A38,000) from his 'Die Another Day' co-star Pierce Brosnan, Fox News reports.
Madsen was listed as one of California's 100 biggest tax delinquents on and off for over a decade. In 2013, he paid off his $US640,000 ($A976,000) IRS debt.
However, 'The Hateful Eight' star continued to face financial issues.
As late as 2021, he was still ranked as one of California's biggest tax delinquents, with a debt of $509,029.92 ($A776,943.27). He was not listed as a delinquent at the time of his death.
Madsen once said in an interview that he took on roles in dozens of small films for the paychecks.
Real Estate
In 1999, Madsen snapped up a property in Malibu for $US2 million ($A3 million).
He offloaded in 2007 for $US9.95 million ($A15.1 million), netting a $US7.95 million ($A12.1 million) profit.
The 'Thelma & Louise' actor also reportedly owned homes in Los Angeles, Chicago, and New York.
In 2022, Madsen was arrested for trespassing at a house from which he was evicted, the Daily Mail reported.
According to the outlet, the 'Wyatt Earp' star was held at a $US5.3 million ($A8.1 million) Malibu mansion just across the Pacific Coast Highway from La Costa Beach.
A source told the Daily Mail at the time: 'Michael had been living at the house since last year, but the lease was in another person's name.'
The property was leased out by another person and several thousand dollars were owed in back rent.
The owner attempted to evict the tenants for two years, but due to moratorium on evictions on account of Covid, it took several months to go through the legal process
Sudden Death
Madsen died at the age of 67. He was found unresponsive at his Malibu home, and first responders pronounced him dead last week.
While the official cause of death has not yet been released, his manager confirmed that he died from cardiac arrest, with no foul play suspected, according to Today.
Los Angeles County deputies responded to a 911 call at Michael Madsen's Malibu home, where he was pronounced dead at 8:25am.
The sheriff's department told NBC News that Madsen appeared to have died from natural causes, and no foul play is suspected.
At the time of his death, Madsen was involved in 18 unreleased projects, as noted on his IMDB page.
Michael 'was really looking forward to this next chapter in his life,' his managers, Smith and Susan Ferris, as well as publicist Liz Rodriguez, said in a statement.
They said he was also set to release a new book called Tears For My Father: Outlaw Thoughts and Poems.
'Michael Madsen was one of Hollywood's most iconic actors, who will be missed by many,' the statement added.
Madsen was the father of six children. In January 2022, his son Hudson Madsen tragically died by suicide at the age of 26.
Hudson was one of three sons Michael shared with his wife, DeAnna Madsen, whom he married in 1996.
Along with DeAnna and his children, Madsen is survived by his younger sister, Virginia, who shared a heartfelt tribute to him on Thursday.
'We're not mourning a public figure. We're not mourning a myth — but flesh and blood and ferocious heart,' Virginia wrote in a statement shared with Variety.
Parts of this story first appeared in The Sun and Fox News and were republished with permission.
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