A couple of weeks ago we covered the story that former 90s heartthrob, Brendan Fraser, was trying to have the $900,000 a year he pays his ex wife in alimony and child support reduced, claiming he can no longer afford it. Fraser divorced his wife in 2009. They have three sons together aged 6, 8, and 10.
Many of us had no problem believing that Fraser can’t afford nearly a million a year in support to his ex, considering how his career has been going lately. He does have a lot of movies lined up for the next couple of years, but he hasn’t done much lately and he’s no longer a leading man.
Well TMZ has the details of the financials from Fraser’s court filing and it’s bad. He makes a whopping $251,504 a month, or nearly $2.8 million a year, but almost half of that goes toward “professional fees,” which TMZ interprets as agent fees, among other things. (He’s represented by Creative Artists Agency.) Then he has a mortgage, taxes, insurance, gardening fees, etc. that add up to about $87,000 more a month than he’s making. Here’s their breakdown:
Fraser filed docs in Connecticut recently as part of an ongoing battle with his ex-wife to lower his alimony payments, which currently sit at $50,000/month. To prove his financial situation ain’t what it used to be, Fraser listed his monthly income and expenses …. and it’s not pretty.
According to Fraser, he makes about $205,704.04/month, but $112,803.25 goes to professional expenses — DAMN YOU, AGENTS!!! — leaving him with $92,900.79.
Fraser says he makes another $25,800.28 from interest and other financial things rich people get … and then the expenses kick in, including …
Alimony — $50,000
Mortgages — $5,000+
Property tax — $6,000+
Income tax — $34,132.52
Child support — $25,000
Gardening — $5,200
Various insurances — $5,000+
Family support and gifts — $5,000+
Staffing — $3,000
Pet care — $7.77 (Does he have a goldfish?)
And it goes on and on …All told, Fraser’s expenses have him losing $87,320.01/month. But Fraser’s assets reportedly total just a shade under $25 million … so we think he’ll be fine.
So maybe Fraser is overstating how broke he is in order to get his alimony and child support reduced. That’s his goal here so he’s not going to make it look like he’s in the black. Still this surprises me. I’m always kind of shocked when millionaires go broke, but I guess it’s easy to just spend wildly when the money is flowing and then have trouble cutting back when it slows to a trickle. Dude needs to move to somewhere with a cheaper mortgage and where he can tend his own garden. He pays $62g a year just for landscaping! He needs to talk to Suze Orman too. She’d be all “denied!”
Brendan is shown in 2012. Credit: WENN.com
Must suck to be poor on 3 million a year!
Exactly!!
He’s got that puffy Jason-Seagalesque substance abuser look going on.
Probably part of the “gardening” fee is his weed connection.
Right? I think he’s laundering his dealer’s cash, here. But weed? No one looks like that from sparking a joint.
I thought the same thing! I can’t believe he’s only 44! My husband will be 54 this June and looks waaaaaayyy younger than this. Either he’s got a problem, or was very unlucky in the genetic department.
Hilarious.
I remember reading somewhere that Brendan went to rehab last year for pain killer addiction after injuring his back on The Mummy 2. I’m sure that aged him a bit but if the top photo is his most recent picture he looks a lot better than he did between 05-10.
In this case, I have a little extra sympathy. I’m sure he began taking them to alleviate the pain from a legitimate injury and was hooked before he realized it. Kudos to him straightening himself out though. It’s further proof that pain killers are evil.
By all accounts that I’ve read, he still suffers with that back injury and lost work/roles because he was ‘truly’ unable to work for a while because of it. I’ll give Brandon a break as well. The director admitted that he ruined Brandon’s back with the stunts he asked him to due in “The Mummy 2.”
Such a generalization! Sure, they are the enemy when in hands of addicts/abusers. Not so much an enemy for millions of people who live in constant intractable pain and take necessary medication responsibly.
I disagree with using opiates for long term use. I think people can become addicted easily to them. I understand if you need it for intense short term pain, like post surgery. But I think they are addictive and deadly. I have a relative who became horribly addicted to pain killers after a back injury from a car accident. This person used to be one of the most kind and loving people on the planet and now they’re miserable and there have been waaaay too many close calls because mixing opiates with anything is dangerous. I’d sooner hear of someone using marijuana than using opiates (provided it’s legal to use where you live). There’s nothing you can tell me that will tell me long term usage of opiates is a good idea. There are alternatives to pain management instead of opiates.
Opiates, when used properly can offer safe and effective pain relief for those with chronic pain. Of course they should never be mixed or taken with alcohol. Sadly, other forms of pain management don’t always work. I’m sorry you had a family member for whom pain relief became addiction. However, this is not the case for many people who find these medications make life bearable. No one should be discouraged from seeking help for chronic pain because they fear addiction. Statistically, most people do not become addicted to these medications.
Lee loo- you can think whatever u want( even tho you’re very wrong). Just don’t ever take opiates. But please leave those of us responsible people that need them alone. I have been thru hell and couldn’t function without. You have no right to judge. Lets talk when you have pain so bad that you’d rather be dead
My family is sort of anti-pills family. It’s terrible for long-term use as they are addictive, but short term is fine. When I had my surgery, I took Oxycoton for 2 weeks. Even though they alleviated the pain, and I was still in pain (but it was manageable), I told my doctor I didn’t need another prescription.
In short, unless you absolutely need to, pills can be dangerous.
My mom has chronic back pain and neck pain, and even she stays away from prescription pills unless she is crying in pain. She hates them as well.
I dont know why but I just love him!!!
$50000 for alimony plus $25000 for child support seems like a ton!
I’m all for the child support $$, but alimony seems like such an outdated notion these days. It would be one thing if she busted her hump while he built his career and they were married for many years, but that’s not the case here.
She should get a job.
THANK you. Why can’t divorced women (and not the one’s who have spent 25 years caring for house and home or who have toddler at home) get off of their arses and get a J.O.B. – even a part-time gig? I don’t expect my ex to support both me AND the kids. Now that we’re divorced he owes me nothing unless it is related to the children. And I pull my weight in that department as well. These lazy ex-wives make women look weak. C’mon gurl – it’s not 1950.
gah, it’s hard to believe he was once handsome and appealing
Seriously. All I can think is, how did this guy ever make it in Hollywood?
I feel bad for him. Yes he needs to downsize. And in a normal world that would be plenty of money to live on. He does have a responsibility to his boys, and I think he does that. What I don’t get, is why he’s still paying support to his ex. Normally, theres a time limit to the alimony and it seem that hes surpass that limit. The guy got screwed, and I feel bad for him.
Aims, I was thinking that too. She must have had one hell of a lawyer cuz girlfriend made bank in that divorce settlement. Don’t quote me on this but I think alimony has to be paid out in correlation to the length of the marriage. Like if they were married 10 years, he’ll have to pay her alimony for 10 years and since they only got divorced in ’09 he’s got a ways to go. That’s probably why he is trying to get it lowered. I wonder if they had a prenup? Doesn’t seem like it.
You would think he would of had a prenup. That would be the smart thing. I wanted to clarify, I don’t feel sorry about the amount of money he has. Hes loaded, compared to the rest of us. I feel badly for him because he is going to pay alimony to the ex for an eternity. I’d think that would be a bitter pill to swallow.
How does one spend $5200 a month on gardening?? I don’t feel bad for him (and heartthrob? really? he is so goofy looking). If you are earning less you need to downsize and spend less. There is no reason to be spending like you are still earning big bucks when you aren’t! That’s a recipe for disaster. That said, his wife needs to get a job. How is the alimony payment double the child support?! That’s crazy. I hope someone set some sort of trust/college fund for those kids because at this rate there won’t be much left in a few years.
Once upon a time, when he starred in the Mummy movies, he was totally HOT!
Lol! I loved the first Mummy movie! He and Rachel Weisz (sp?) had great chemistry. But I didn’t think he was hot in it. Idk, he is just not my type and he is definitely not aging well.
Agree MST. But my best memories of The Mummy will always be Oded Fehr *sigh*
Yo, Tarzan, mow your own yard. It’s really no different than swinging from vine to vine.
LOL!!!
Since he played George of the Jungle (not Tarzan) who was always running into trees when attempting to swing from vine to vine, I guess you justified his need for the gardener.
note how he asked for the alimony to be reduced, not the child support. If you don’t make the money you used to, you need to change something, and that includes alimony. Good for him restricting it to alimony and leaving child support at what it is.
Gardening? Staffing?
Dude, I think you can downsize.
Family support and gifts, on top of Alimony and Child Support? Wha?
Three grand a year for staffing isn’t that bad. The breaks down to $60 a week for someone to come in and clean what by all accounts must be a pretty big house.
This is his monthly break down.
3K a MONTH. If I could find someone to clean houses for 3k a year, I would hire them!
I feel really sorry for him. If memory serves correctly from when my hubby paid child support to his ex (no alimony), he’s paying the taxes on that $75,000 a month he’s sending them.
Let’s say he’s making $2.8 million a year. Between federal, state and local taxes, about half of that’s going to the government, which would leave him with $1.4 million. $900,000 goes to ex wife and kids, which leaves him with $500,000. Agents, Managers, Accountants, Lawyers are taking $112,000, which leaves him with $378,000 a year to live on.
I may get slammed for this, but there is something wrong when at the end of the day the one making the money ends up with $378,000 and the ex-spouse makes $600,000 in alimony alone.
Can you imagine making $2.8 million a year and when it’s all said and done, only having $378,000 of it?
That’s about the figure I came up with, too. He is in dire need of a financial advisor, stat.
From the breakdown of the expenses, it looks like he’s probably paying for the dwelling his wife and kids are in on top of the alimony and child support.
Someone once broke down for me exactly how much it costs to be a Hollywood star(agent, photographers, publicists, stylists, taxes etc.) even without the extravagant lifestyle some of them lead, and I was pretty gobsmacked. I have no trouble believing that half of what he makes vanishes before it even hits his bank account. Add in the alimony, and yeah, this is pretty rough.
People assume that famous = rich = unlimited $$. It just isn’t so.
How do these ex-wives pull this off? Jeez. I cannot even imagine making such demands. My pride would not allow it.
Me either. The most I can imagine myself asking for is probably a house in a good neighbourhood where I could live with the children.
I would be much less hesitant when it comes to child support. But then again, no father with even the slightest smidgen of honour should ever begrudge his children money.
How would your pride feel if your ex had been sleeping with the nanny, or your best friend, or some other heinous affront to you and your children?
I actually had something like that happen! He was banging his students. I took what was mine and left, never asked him for a dime, never wanted it. Mind you, I was young and didn’t need or want his money. This was a long time ago, and without getting into details, I am very glad looking back that I handled things the way I did and did not go off the rails seeking revenge.
If I had children, the child support issue would be a different bag of apples of course. Or if I had given him 30 years of my life and devoted support while he worked his way to the top, it would’ be legitimate to say that I took part in building the fortune and deserved a large equitable settlement. Everyone deserves to have things settled fairly and equitably. None of this is the same as using alimony as a means of getting revenge for wrong doing. Judges by the way frown on this– those who expect divorce proceedings to provide moral satisfaction are usually deeply disappointed.
I just don’t understand how people cry broke when they have THAT MUCH MONEY. If I just had 1 million, I think I’d be happy.
Hell, I’m happy on much less than that!
Someone once said, a million here, a million there, and pretty soon you are talking about real money.
When you have to pay a publicist a six digit salary, or give whatever the going percentage is to an agent, or half of it to taxes, etc., that million gets whittled away pretty quickly. It costs something just to be doing this.
Throw in poor money management, a few greedy relatives, and a couple of bad decisions, and you can have a broke-ass former millionaire very easily before you even approach the silly lifestyle choices.
on paper its a no brainer thats so much money but basically everyone has a problem with going down in lifestyle. moreover what rich people say who lost money: its not really about the money its about being a loser. you know you were rich and had luxury all around you and you screwed up and lost all of it. hard to let go and face the reality. i’ve heard that from people who have lots of debts, they ignore letters because they think if they ignore the bills they dont exist.
obviously there are people with far bigger problems but i also think its not as black and white as some people make it out to be.
Yup, Miss Jupitero is right.
A few million dollars sounds like a lot of money, but it’s all relative in the end. If you make a few million but have to pay several people thousands of dollars for various services, the millions won’t last long; if you throw in some of the other things that go along with a career in a Hollywood, you can wind up broke rather quickly.
Of course there are things one do can to mitigate some of the financial issues, but that’s not as easy as many believe. People with millions of dollars are people, after all, and that means they can have money troubles too.
One of the problems also with making a financial plan as a Hollywood actor, is that you really can’t know how long your career will actually be.
You could be the next Tom Hanks and have decades of earning to look forward to.
Or you could be the guy with tons of promise who gets a lot of lead parts for awhile, and then… pfffffffttt! A little bad luck and you are dead in the water. I suspect that this latter scenario is much more common.
Most of us can make reasonable projections as to where our careers and earning potential will go. Actors often cannot. I am sure his alimony/child support payments were based upon his then anticipated future earnings. If things did not pan out according to what was projected back then, it is right for that to be re-evaluated. This is actually pretty standard procedure, which is why I would advice comfortable ex-wives to not get too comfortable. Everything can change.
im not going to lie, i find that very interesting to read those numbers but why is that even legal for tmz to publish documents like that?
Divorce/financial documents such as the ones Fraser filed, as well as many other legal documents, are not considered confidential in most cases; they are public records.
Wikipedia has a short list of what kinds of records are public. Just google “public records”.
+100 Samigirl, we all live fine on alot less than a million a year.I guess if these Hollywood types had to live in a 3 bedroom ranch house,eat at TGI Fridays and drive a Honda they’d kill themselves.
It is called downsizing, you’re not Tom Cruise, Brendan so stop spending like it.It is that simple.
Obviously that needs to happen but if he has to do those things so should his ex-wife. If I can live off of 45k for an entire year, so can she. Both of them need to downsize. His wife shouldn’t be living in the lap of luxury while he’s forced to give up everything HE’S worked hard for.
I agree LeeLoo… it seems he may in fact, be trying to downsize, and that plan would include having his alimony payments adjusted. This seems like a no-brainer to me… those payments were calculated when he was much better off financially. Even though it seems like a lot of money to most of us, if he has had a steady decrease in income, he should be able to have the alimony payments adjusted accordingly.
I agree, Belle. It sounds like he went to rehab in the last couple of years and now he’s trying to manage his money better and get his expenses down to something more reasonable. I applaud him for getting his life back on track. It really sounds like he is trying to do the right thing and there’s no reason his wife should be entitled to double what the kids are getting.
What makes this situtation even more sad is the fact that he has to go through the courts instead of him and his wife being able to work together to reach an agreement on their own. Divorce sucks, why make it harder by not acting like adults and working these issues out amongst yourselves? Maybe I’m just spoiled by my parents’ own divorce. They are still great friends to this day, they just couldn’t be married to one another. Everything was settled privately. If of anything, I think it is important to try and show love and respect to that person. Even if they turn out not to be the person you thought, even if it ends badly; at least end it peacefully out of respect for the love you two once shared. I don’t have a lot of empathy for people who choose to remain bitter and Brendan’s ex sounds like someone who would rather remain bitter and punish Brendan over the demise of the marriage than make any attempts to move forward with her own life. She needs to support herself, especially if she got half of everything in the divorce already.
I think he’s hiding his hair plug expenses under gardening…
Lol, that’s right! Hair transPLANT!
I have a serious problem with the alimony being 2X of the child support. His CHILDREN, by all means, should continue their lives with the benefit of dad’s dough. Why is his wife entitled to twice that?
My alimoney is 7x my child support which works in my husband’s favour as I have to pay tax on that and he pays tax on the child support.
I would much rather have the money as child support than alimoney but that’s not how it works!
I really thinkk that the alimony should be reduced. It is not fair. He is not making as much as he used to.
I have never found him appealing. I find this document fascinating for two reasons. The first it is shocking how much money these Z list celebs can make monthly doing nothing and two I am surprised his mortgage is only $5K per month. I live in the DC area, which is not cheap but many people have high mortgages in this area so either he paid cash for most of it or he doesn’t live in an expensive home. I agree with others on here the wife sounds greedy, but then so is all of Hollywood. I guess I am the type who prides myself on my independence and wouldn’t take a dime from my husband if we were to divorce.
+1
Even if my hubby were to dump me in the worst way possible, I can’t see myself taking a dime from him. It’s just not who I am. If we had kids involved, I would want to make the divorce as painless as possible for their sake. If we didn’t have kids, I would just want to be done with him. I do think a lot of women become bitter and want to hit men where it hurts and that place is normally the pocketbook. For me personally, alimony feels like it’s taking something that doesn’t really belong to me. I’m just one of those people who wants to earn my own lifestyle.
I think it depends on the situation. If the wife came along after he had made his mark, then I agree. However, someone like Cindy Costner, who financially and emotionally supported Kevin Costner while he tried to make it as an actor, raised their kids (while he cheated on her) then walked away with half is something I am on board with.
In my case, my husband would not have his business if it weren’t for me. For three years I helped him build it until he could run it alone and I could pursue my passion, so if something ever happened to us divorce-wise, I would feel entitled to some of that business since it wouldn’t exist without me.
@Sherry It’s not that I don’t think a former spouse isn’t entitled to something. In the case of Cindy Costner I fully agree she was entitled to half of the earnings Kevin made during their marriage. I’m not against splitting assets earned during the period of marriage. What I am against is the idea that your ex husband/ex-wife is responsible to maintain the lifestyle AFTER the marriage. I say split the assets at the time of the divorce or be allowed to give a one time financial settlement and be done with it. Ideally, everyone can be an adult and come to terms without getting the courts overly-involved. I do think laws should be in place to protect everyone and do it in a fair way that protects everyone going through a divorce from being taken advantage of. Men who have earned their money should be protected from gold-diggers who would take advantage and a woman who helped her husband rise in his career only to have him hide his assets and dump her should also be protected.
Good for you, LeeLoo. I very much respect that approach.
I certainly don’t fault womnen who receive alimony, but I do greatly respect those that do it all on their own without any financial support from an ex-it can’t be easy.
I think alimony makes sense if one person has given up their career while supporting the other.
My best friend worked in a supermarket to support her hubby while he got his degree and is now a stay-at-home mum (they have young twins). If they split in the next few years, a 50/50 split of current assets wouldn’t be fair – he’d come out of it with 50% plus $120k job, she’d have 50% plus perhaps a $40k job if she could find one.
You need something to account for the fact she missed out on training/advancement while she supported the family.
However, that’s normal-folk, with roughly similar earning potential. It gets weird when you talk about the super-rich. On one hand, if BF’s wife got millions in a 50/50 split, then she should be able to easily support herself while she re-trains. But on the other hand, it’s not like she’s going to be able to go to uni for a couple of years and walk out with a $2.8 million career.
I can’t decide where I stand. Luckily, there’s minimal risk of me marrying a multi-millionare, so my flip-flopping opinion isn’t going to be a real-life drama.
Given the state of his career, seems to me like he is VASTLY overpaying his agents!
If he is making significantly less, I can see reducing alimony, and leaving child support in tact. And he has to get his finances in order, cut back on the extravagances, sell off some assets if necessary.
I’m always amazed when actors think the money will keep rolling in forever.
Part of the reason he may be vastly overpaying is so he can get his career back on track. I’m not saying it’s a good idea, but it makes sense that he would want to have good agents in place who can help make it happen.
What is he doing having his management team take over 50% of his paycheck. That seems excessive.
Management isn’t taking 50 percent, however they are taking a percentage of his gross income. Much like with his taxes that money is gone before he ever sees it.
I think it’s more shocking that he has movies lined up. Boy he’s lost his looks. Time to shave the rest of your pitiful hair off buddy!
I’m really trying to find sympathy here (not really) but when you live a lifestyle~by CHOICE~that consumes that much money than YOU have to reconsider your lifestyle, not rely on some court to do it for you. The millions and millions of people in this country who struggle to put a roof over their children’s heads and food in their belly and who barely scrape by from week to week are the ones who deserve the sympathy, not this guy. Outrageous alimony payment notwithstanding.
He’s not asking a court to help him reconsider his lifestyle… he is asking to have his alimony reduced, just as any average guy would do if his financial situation changed considerably. If the alimony payments were decided upon by a court and structured according to his salary at the time, and projected earnings, then it seems reasonable that he ask the court to review them at this point.
He’s paying twice as much alimony as he is child support! I didn’t know anybody got alimony anymore. It’s been 4 yrs since he got divorced. Time for his ex-wife to get a J-O-B!
I dont understand why people get alimony at all?! As long as he is paying child support that is fine…but really he shouldnt have to pay her anything else thats just ridiculous!
I tend to agree with you about the alimony, with one stipulation–some wives work while their husbands go to school or make little or nothing while trying to build a business or career which eventually pays off big. Those wives should get rewarded, because without their financial support, the husband likely wouldn’t have ended up being a big earner. Other than that, I think I would feel ridiculous taking alimony just because I could.
I really think 50k in alimony is absolutely unnecessary. In my opinion, alimony should never be higher than child support. If I had it my way, alimony would be eliminated except in cases of displaced homemakers and in cases of domestic violence and in both cases I would put a time limit on it. I think the only thing you owe an ex-spouse is their share of the assets or a one time financial settlement. Both of which I’m sure ex-Mrs. Fraser got at the time.
I understand that the laws are in place for a reason. It is always in everyone’s best interest to be reasonable when divorcing their partner. I’m especially of the opinion that if the both of you made the adult decision to get married then you can also make the decision to continue being an adult when it comes to divorcing, even if it isn’t something you want. I am sure his ex got her half of everything at the time of the divorce so that should be more than enough for her to live off of for the rest of her life. The focus should be on collaborating as co-parents and supporting their children who have the most to lose from a divorce.
Of course Brendan needs to willing to compromise on his end and cut down on his own expenses. I am sure he can find ways to cut down on his own expenses and it sounds like he’s fighting the alimony more than he’s fighting the child support. Which if that is truly the case, then it sounds like he wants to do the right thing without supporting his ex-wife’s high maintenance lifestyle (I mean seriously, what do you spend 50k a month on?!). He worked very hard at his acting career, so I do think he should enjoy the spoils of his hard work, especially since he doesn’t have as much work coming in these days. Yes, he’s not hurting for money but his ex has gotten more than her fair share. She needs to bite the bullet and figure out how to support her with what she has already gotten. It shouldn’t be his responsibility to maintain her lifestyle 6 years fter they divorced. He’s been more than fair.
I completely agree with everything you have said. Unfortunately if she is getting that much off him I doubt she really wants to go back to work.
I doubt she even needs to with what she’s already been given. If she’s already blown through it, how can that be Brendan’s fault or even his problem? The kids are his only on-going responsibility.
millionaires go broke very easily believe me. if you are a good person and gullible (I think he may be) you get swindled left and right; then everyone and their mother, literally, wants money from you. through bad investing you can lose every cent, it happens. divorces clean you out. I’ve watched people put money into investments I warned them were bad and they do it anyways because the other guy selling the investment is a fast talker. nice people are targets. he may also have real estate that went bust. many, many things:)
This is one of the biggest pitfalls: People who suddenly have a lot of money after a big success (and that is how this business can work) and big soft (yet not very smart) hearts don;t always know how to draw firm boundaries.
Before they know it, they are buying cars for the entire extended family, investing in the dubious business plans of various in-laws, and making unaffordable donations to charities which, trust me, are *expert* at the art of the ego massage and making celebrities feel very special and noble.
It can feel good to play Santa Claus to everybody around you, but this will tank you faster than anything.
Yes Miss Jupiero exactly. And when I hear other people complaining (which is essentially jealousy) over someone else’s income it bothers me as no one realizes yes everything balances it’s way out in the end. why do you think celebrities, others off themselves? if you have something in one spot believe me you are getting it sorely in another. 🙂
I cannot believe the jealous remarks I am seeing here. Always worry about yourself before you worry about others. Also one has no idea what these people give to charity. Not all people want to be recognized for it. Perfect example, a famous tennis player gave 45k to a dying little girl for experimental cancer treatment. The guy wrote a check the same day. I know the person that made the phone call. They were desperate. The tennis player does not want his name to be known but believe me these people are donating and donating a lot. Not all, but many, many and do not want any fame from it.
@xxx, I am all for charitable giving (I work for charities!) 🙂
What I am talking about is something I see way too often: people who are swept up into giving more than they can really afford to family, churches, etc. after they become suddenly wealthy because a lot of people are all over them. They *seem* to have so much. It *seems* to be endless. But they don’t really do the math, and then they find out that the cash flow isn’t endless.
They never learned how to say no, and live by impulse. Hey some impulses can be very sweet, very good-hearted– but they are still impulses, and this is how people lose everything. This is very common.
oh that reminds me of a story my accountant told me. a lady interested 2 million from her family and she was bound to a wheelchair, she did not know how to say no and her money was gone in a few years. nice people are extremely easy targets.
and saying i can live on a certain amount a year, these people do not realize they are going under when it happens, nobody predicted what happened in the housing market. many areas of america are worth half of what they bought it for and even when it is on sale no one can buy it. stock market included, many things that were considered sure bets are no more.
*inherited “a lady who inherited” typo
I agree, the ex needs a JOB, part time is still income.
I find it weird that someone who used to make that much money is still paying mortgageS (as in, more than one). Isn’t that one of the 1st things you try to pay off?
For many people, not just millionaires, no– though I think with the changes in the economy, this is changing drastically.
Before the economy imploded back in 2009, banks encouraged borrowers to borrow way more than they could afford and also made it very easy to borrow even more on the house, based upon inflated values. We had an economy in which plenty of people used their homes as ATMs, and just assumed that once they decided to sell, they would easily make it all up and get everything back. For a long time, things actually worked this way. It seemed like home values would always go up, and it became very easy to spend all that imaginary money.
Well, Hollywood mortgages are just as capable of going underwater as any other mortgage, and I guess actors are not known for having business acumen.
Remember the Bernie Madoff scandal? He banked on celebrities…. and none of them looked at the fine print. Not one. Not one of them thought “Hmmm… 15% return on investment? That sounds a little too good to be true.”
BTW, even for those of us who are sensible about money, most financial advisers will caution you against paying off your mortgage first or buying a house with cash. If you are really wealthy fine, do it, but your first priority should be your retirement, period full stop, and the earlier the better. A home is never going to bring in the same kind of return as funds that are well invested in the stock market, and it is very difficult to make up for a lack of retirement funds late in the game.
I think there are some tax advantages to carrying a mortgage. (Don’t know for sure always rented personally). But if he is still paying the mortgage on the house his wife and kids still live in, I’d think the alimony and child support can more than cover that particular expense, which would be a place to cut.
Let me preface this by saying Brendan Fraser makes more money than I probably ever will.
That said, Brendan’s career trajectory is marked by unfulfilled destiny. He has great acting chops. He was very handsome. He should have been A list. I don’t know if it was bad casting decisions or what that never got him where he should have been. But it makes me sad.
Actually I read he said he never wanted to play a role of a person that was a bad character:) He always wanted to be a good-doer. It appears maybe now he should have considered. Just an example of a person that miscalculated the future. Happens to many people all incomes.
Dear Celebitchy. Can you PLEASE stop posting stories about Brendan Fraser? Every time I see the way he looks now I want to cry. Say what you like about him, he was FINE during his Encino Man period.
I know! I have no problem with Brendan Fraser. That horrible ex of his NEEDS to downsize. He does to but that’s his money his earnings. Get a job lady, go to school. Luxury means NOTHING. Poor Brendan. I’ll watch his movies just to support him.
Actually I think the Judge should just reduce his ex’s alimony payments and put the difference towards child support. Why is she getting more than the three kids are??
I’m impressed he’s still worth that much. Take note, younger crackheads.
Almost a million dollars a year in child support plus alimony? Ugh, that just seems SO greedy on the ex’s part. It doesn’t cost a million dollars a year to raise a child. Get a job.
I could live twice as lavishly as I do now for TEN years on what she gets every year for doing nothing, and I have three kids.
When I was a single parent (dad took off) I had an order for $220 a month. He never paid it. When my husband finally adopted my oldest son and I closed the child support case, he owed me over $10,000. I would have loved that extra money every month. $900K is just absurd.
He should rent out space on that forehead of his.
That alimony is absurd.
This makes me so sad for him. I loved him so much in the mummy and all the other stuff he did. He’s just really sweet and seems to adore his children. Poor guy.
Yall’ neeed to stop ragging on his ex wife.She had a good lawyer and if he wasn’t smart enough to get a good lawyer that is his problem.I find it hard to believe any of you’d turn down 50,000 a month if your ex husband could afford it.BUT… if he can no longer afford it then he shouldn’t have to pay that much now,sure. I am just saying you can’t blame her for taking it when he was out there making it.
so if i’m better at lying, cheating, I’m entitled to the money I cheated you out of? because you’re basically saying her lawyer could bullshit better so she deserves the money. just b/c she has a better lawyer doesn’t mean he deserves to be screwed. what happened to taking care of yourself?
I adore Brendan Fraser. I have the Mummy DVD set. In the 3rd, he did look ghastly ill. His complexion was incredibly aged. I believe the pain killer and injury theory. I also think that it’s his Canadianness – of being overly affable and overestimating/bowing to other people – that is his Achilles’ heel. It explains being exploited and why his career is the way it is. He deserves better.
He must have a ton of equity/put a ton of money down on his house, because there’s no way that a house with 20% down and a $5,000 mortgage could use $5K in gardening monthly.
And yes, crazy that his ex receives $600K in alimony a month while $300K a month gets split b/t his 3 kids.
Totally. Does he live in a one room shack in the middle of a beautiful garden? Hey! He is George of the Jungle.
I also adore Brendan! Move in with me, Brendan. I’ll take care of you! p.s. I hate TMZ. They are the epitome nosey filth-mongers and sadly, there is nothing they won’t report.
Am I supposed to feel bad because he’s pulling in 92 grand a MONTH? Seriously?
If he doesn’t watch it, his last gig will be on “Celebrity Rehab.”
This reminds me of Christian Slater. He was a very successful actor in movies, talented. It shocks me how his career took a downward turn compared to his heyday. It ‘s a hard business. Sock that money away.
Always so sad to see a former hottie turn into a brokeass, wispy haired, whiny-pants loser.
Where did the hot go? Was he ever even hot? I can’t remember..
I know. I don’t think he was ever hot, though he looked a lot better than he does now.
I’m curious about this $7.77/month pet. That is a very low, very specific figure. Is he is ordering new Sea Monkeys every month?
That is funny! Had forgotten about sea monkeys.
Pic 3 (after the article) can not be from his garden..
Actually, I kinda always loved him. He seems unassumingly adorable and sexy. Without knowing the details, wish it would have worked out with him and his wife & family being together. He seemed sincere, but I guess, something happened. Tough environment out there, but still…I can’t feel all bad about their budget, either side.
I really don’t understand the reverse snobbery coming from some comments–sure, I’d love to make $80K a month, too, but I don’t and that’s all there is to it–and that’s okay, it’s not Brendan Fraser’s fault.
I support the Occupy Wall Street movement because financial institutions and corporations have lobbyists on their behalf to buy politicians to make the playing field uneven, deregulate safety procedures, promote less taxes paid by the wealthy and major corporations, and, thus, a “Manifest Destiny” twist to the current financial climate has left many people unnecessarily poorer than they should be.
However, Brendan Fraser does not hurt me or anyone else personally by making $80K a month. He is not working against others who are poorer to keep them poorer. Also, he isn’t making a lot of money to be living in the geographical area he’s in and involved in the business he’s in anyway.
Just because someone is richer than us doesn’t mean they automatically deserve our contempt anymore than just because more of us are poorer than Brendan Fraser we automatically deserve his contempt. LOL.