‘I had nothing’: The Godfather star Al Pacino once blew $50M via lifestyle creep. How to build (and keep) your wealth.

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One Academy Award, 2 Tony Awards and 2 Primetime Emmy Awards inactive can’t prevention you from going broke.

Al Pacino, the histrion who won each these accolades and more, recounts his struggles with wealth successful his memoir, Sonny Boy.

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“I had $50 cardinal and past I had nothing,” wrote Pacino, according to a Variety illustration of the publication (1).

After spending millions connected everything from lavish rental homes to costly landscaping, helium yet ended up successful fiscal turmoil. Reportedly, this besides included 16 cars and 23 cellphones.

The halfway cause? A crooked accountant and Pacino’s ain cardinal misunderstandings astir however wealth works.

But erstwhile it comes to the satellite of entertainment, the prima is acold from unsocial successful his fiscal struggles. Francis Ford Coppola, manager of The Godfather — the aforesaid movie wherever Pacino got his breakout — is selling disconnected his assets.

According to a New York Times report, Coppola was selling respective luxury watches successful 2025, erstwhile helium was quoted arsenic saying, “I request to get immoderate wealth to support the vessel afloat (2).” This was astatine slightest successful portion owed to borrowing implicit $100M to money his mega-flop, Megalopolis, according to Business Insider (3).

Their stories are almighty reminders that choosing the close investments, diversification and maintaining fiscal subject are important to sustaining wealthiness and securing a unchangeable aboriginal — nary substance your industry.

Even if you aren’t bringing your talents to the metallic screen, present are a fewer tips to assistance you negociate your finances and acceptable you connected the way to not lone gathering wealth, but keeping it too.

The archetypal measurement successful avoiding fiscal mismanagement is mounting wide fiscal goals. Without a well-defined plan, you whitethorn beryllium endlessly chasing “more,” perpetually moving the goalpost and ne'er reaching restitution oregon contentment.

If you’re trying to physique that program yourself, it tin beryllium hard to cognize wherever to start. And if you’re looking for adept assistance — beryllium definite to find idiosyncratic you tin trust, accent trust.

Pacino has different acquisition here. He worked with an accountant who aboriginal served 7 and a fractional years successful situation for moving a Ponzi scheme, according to Variety. In his memoir, Pacino wrote helium had received “warnings that my accountant astatine the time, a feline who had tons of personage clients, was not to beryllium trusted.”