Michael Madsen feared to have been worth as little as $400,000 at time of death

Perth Now

4 days ago

Michael Madsen may have been worth as little as $400,000 at the time of his death.
The actor's finances are in the spotlight after a string of celebrity net worth sites updated their estimates of how much cash he had put away in the wake of his death aged 67 at his Malibu home on 3 July.
Despite earning recognition for his roles in Quentin Tarantino films and more than 300 acting credits, Michael's net worth is said to be nowhere near what fans thought, with the sites estimating it was anywhere between $400,000 and $4 million.
Legal website Trust Counsel have backed up the low estimates of his final worth by publishing an article headlined: 'Michael Madsen's Financials at Death Prove that Fame Doesn't Always Equal Wealth'.
It reported: 'When someone as famous and lauded in the industry as Madsen passes, it's easy to believe that they pass with some sort of mass lump sum of wealth, that will now pass onto their loved ones. 'Unfortunately, that isn't always the case, and it isn't here: Madsen actually struggled to build financial stability not just throughout his lifetime, but even in his final days, and looking into his checkered financial past is a huge lesson on what it really means to leave a legacy.'
Michael's life was blighted by financial troubles, which began as early as 2009 when he filed for bankruptcy, citing debts including $1 million and $25,000.
This was just two years after he sold a Malibu home, reportedly netting nearly $8 million.
Following this, Michael repeatedly appeared on California's list of top tax delinquents, owing $640,000 to the IRS before settling the debt.
Legal issues and housing instability marked his later years.
In 2022, Michael was arrested for trespassing on a property from which he had been evicted but remained due to a COVID-era eviction moratorium.
In his final days, a source told The Sun Michael was 'scared of losing the house again' and was attempting to sell old cars and take on multiple projects to recover financially.
He had been involved in 18 unreleased projects, seeking steady work and income.
Michael's personal life was also turbulent.
The suicide of his son Hudson in 2022 triggered legal battles and false domestic violence accusations. He spent time in rehab, which contributed to his ongoing financial instability.
According to a death certificate published by TMZ, the Kill Bill and Reservoir Dogs star died of cardiac arrest caused by cardiomyopathy, coronary artery disease, and chronic alcoholism.
The certificate also noted thromboembolic disease.