Chapter 423: Chapter 423: The Tax Controversy
In the bright and spacious office, Nicolas Cage sat on a sofa, not even glancing at the coffee on the side table, despite trying to maintain a calm expression. His continuously rubbing hands betrayed his anxiety.
He was here to seek help and couldn't really complain, so he waited patiently.
Taking a sip of coffee, Nicolas Cage sighed. To keep his composure, he diverted his attention by thoroughly scanning the office. The décor was simple, with only elaborately framed posters of "Fruit Hard Candy," "Saw," "Planet Terror," "Deadpool," "Gone Girl," "Game of Thrones," and "Man of Steel" adorning the walls—there was nothing else.
Even so, Nicolas couldn't help but feel moved by how Murphy Stanton had transformed a shell of a film company from a humble rental property into a luxurious business tower in Century City.
He had heard about the media frenzy last month when Stanton Studios moved next to the Twentieth Century Fox building, with almost all members of Fox's board of directors in attendance.
Who in Hollywood didn't recognize the value of Murphy Stanton?
This 27-year-old director had not only made a fortune for the film companies that invested in his films but had also amassed a substantial fortune himself, reportedly amounting to hundreds of millions of dollars, placing him among the wealthiest directors in Hollywood.
Nicolas shook his head. Even at his most successful, he couldn't compare to Murphy Stanton, much less now.
Now, he was deeply troubled and hoped to find some relief through Murphy after facing numerous rejections elsewhere.
His gaze drifted to a large poster of "Man of Steel" on the wall. He had stood beside Superman the last time they collaborated, and they had gotten along quite well. Maybe that could work in his favor.
The office door suddenly opened, and Nicolas turned to see Murphy walking in.
Seeing Nicolas, Murphy handed a file to his assistant and greeted him with a smile, "Long time no see, Nicolas."
Nicolas quickly stood and walked over, extending his hand, "Yes, Murphy, it's been a while."
After a brief handshake, Murphy gestured towards the sofa, "Have a seat."
Once Nicolas was seated, Murphy took a seat on an adjacent sofa, curious but maintaining a neutral expression, about the purpose of Nicolas' visit.
Their relationship had been strictly professional during the shooting of "Man of Steel," not extending to personal friendship.
Indeed, while he had once been a fan of Nicolas Cage and his films, considering him a friend would be foolish.
Murphy preferred to be straightforward.
"Coming to see me in such a rush…" he looked at Nicolas and asked, "Is there an emergency, Nicolas?"
Nicolas seemed uncomfortable, struggling to broach a topic difficult for any Hollywood star, especially one from the former $20 million club. But given the pressing circumstances and having been turned away elsewhere, he was left to try his luck.
"That's right, Murphy," Nicolas took a deep breath, "I've run into some financial trouble recently... I'm having some difficulty with cash flow..."
He coughed softly.
Murphy quickly understood Nicolas' implication and responded, "Everyone faces hard times. I'll have my accountant wire you a million dollars tomorrow."
Though not friends, Nicolas Cage still held considerable commercial value in Murphy's eyes, and maintaining a good relationship could be beneficial. Besides, this was a loan, not a grant.
"This..." Nicolas was at a loss for words. A million dollars was nowhere near enough to fill his financial void.
He hesitated, then prioritized his dire situation over his pride, "I'm actually facing a shortfall of several tens of millions of dollars."
Murphy frowned slightly, "Tens of millions?"
This was entirely different from one million dollars.
As Murphy fell silent, Nicolas took a deep breath and stated, "I'm in severe trouble and need at least twenty million dollars to manage my affairs."
Murphy looked at Nicolas but said nothing.
Nicolas continued, "Murphy, I promise I'll repay this loan as quickly as possible, with interest rates no lower than those of the banks..."
"Wait!" Murphy interrupted, "Nicolas, not sure if you've heard, but I've just invested over a hundred million dollars, and I don't have that much liquid cash at the moment."
Hearing this polite refusal, Nicolas' expression darkened, and he inwardly lamented the harsh realities of Hollywood, where no one seemed willing to lend a hand to someone mired in difficulties.
Murphy's mind raced. He knew that the salary from "Man of Steel" hadn't solved Nicolas Cage's financial woes. This Oscar-winning actor was likely facing severe difficulties, perhaps even on the brink of bankruptcy.
Murphy regarded Nicolas. If this were five years later, he wouldn't bother with such troubles. However, the situation was different now; Nicolas wasn't yet the notorious king of bad movies and still had a large fan base and significant market influence,
warranting Hollywood A-list status.
This value was what made Murphy seriously consider the matter, as Nicolas was not just any celebrity like James Franco or Robert Downey Jr.
Nicolas, sensing all hope was lost, stood to leave.
However, Murphy spoke up, "Nicolas, twenty million dollars isn't a small amount."
Subconsciously nodding, Nicolas sat back down.
"I've invested almost all my liquid assets," Murphy stated earnestly, "I need some time to raise funds."
He only mentioned raising money, not borrowing it.
But this gave Nicolas a glimmer of hope, and he expressed his gratitude, "Thank you, Murphy! I really appreciate it!"
"I need a few days to think it over and get back to you," Murphy added.
Nicolas eagerly nodded, "No problem, I can wait."
After running around Hollywood for so long, Murphy was the first to show willingness to lend such a substantial amount.
Nicolas left filled with hope, but whether it would materialize depended on Murphy's decision. For matters involving such large sums, Murphy wouldn't act impulsively; he planned to have a detailed investigation conducted first.
Within two days, a comprehensive report was in Murphy's hands, and Nicolas Cage's situation was dire.
Simply put, lavish spending and failed investments had driven the Oscar-winning actor into significant debt. After frequently selling off some of his properties at low prices last year, he was unable to keep up with loan payments, and his mansion in Bel Air, Los Angeles, was repossessed by the bank and auctioned off.
Nicolas had initially tried to sell the property for $35 million without any takers. Despite slashing the price to $19 million and then $17.5 million, no buyers emerged, and the mansion was eventually seized and sold off by the creditors' bank to cover debts.
Over the years, Cage's financial situation had worsened, culminating in a tax controversy last year when he was pursued by the IRS for $6.257 million in personal income taxes, though the investigation revealed he owed as much as $14 million.
As a Hollywood superstar, Nicolas Cage had been a major real estate player at his peak.
At the height of his wealth, he owned 15 palatial homes around the world, including a Gothic castle and an island in the Bahamas.
His personal possessions also included four yachts, a private jet, 40 luxury cars, numerous pieces of jewelry, and countless art pieces. A few years ago, he and Leonardo DiCaprio had competed for a dinosaur skull, which he had acquired for several hundred thousand dollars. He also had a significant investment in comic books, worth over $1.5 million.
Currently, Cage was suing his former business manager, Sam Levin, accusing him of mismanaging his assets. He had followed Levin's advice to use various means to evade taxes and had fully committed to high-risk investments encouraged by his manager, only to be hit by the financial crisis.
Of course, Cage's bad habit of earning much and spending more was also a reason for his current financial woes.
As a result, this Hollywood superstar was recently facing severe financial strain, with continuous outbreaks of tax debts and bankruptcy issues. Properties in California and Las Vegas were seized and auctioned off by courts to cover debts, beyond redemption.
These issues were manageable, merely saddling Nicolas Cage with enormous debts, but the tax issues were particularly lethal.
In a country born from tax resistance, evading taxes was a grave matter. Everyone knew better than to provoke the IRS; once targeted, it would mean serious trouble.
With this knowledge, Murphy personally called Nicolas Cage, then had his agent discuss the details with him. He would provide a no-interest loan of twenty million dollars to the beleaguered actor to settle his massive tax debts.
This twenty million dollars would be a lifeline for Nicolas Cage, who undoubtedly had to offer something in return.
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