Hollywood celebrities, who are known for their extravagant lifestyle, are also adopting to cost cutting measures.
While the recession has left the common man across the world with a pinched pocket, Hollywood celebrities, who are known for their extravagant lifestyle, are also adopting to cost cutting measures.
Celebrities like actor Nicolas Cage, Leonardo DiCaprio, Sharon Stone and many others have lost money due to the recession. Actor Nicolas Cage has sold his Bavarian castle Scholoss Neidstein to his lawyer for 100,000 pounds. Cage had bought the 28-room castle in 2006 for 1.6 million and had spent millions on renovation, the Daily Mail reported.
"Due to the difficult economic situation, unfortunately, I was no longer able to keep it," he said. The price of his mansion in Bel Air, which is on the market for a while, has also been reduced. The price which started at 23 million is now available for a moderate 12 million pounds.
Similarly, 'Basic Instinct' star Sharon Stone put her five-bedroom, Mediterranean-style property in Beverly Hills on the market for USD 7.5 million. But due to the worsening
market conditions, the star has been unable to sell despite reducing it to USD 6.8 million. It has now been rented out for 24,000 pounds a month.
The Titanic star Leonardo DiCaprio is also facing a similar fate with his Malibu home, which he bought for 4.3 million pounds two years ago. The actor had put it back on the
market for 6 million but had to reduce the price to 5.3 million pounds. But no one has shown any interest in buying it.
Celebrity chef Gordon Ramsay's restaurant business has been hit by the credit crunch and he is said to be debt ridden and overstretched. He has sold his restaurants in Los Angeles, Paris and Prague back to the hotels which housed them.
Rap mogul Sean P Diddy Combs, whose wroth is 200 million pounds, says he can no longer afford to run his private jet.
"As you know, I do have my own jet, but I've been having to fly back and forth to LA pursuing my acting career. Now, if I'm flying twice a month, that's like a USD 200,000 or USD 250,000 round trip. I'm back on American Airlines," the star said in a video.
"Give a shout out to all my Saudi Arabia brothers and sisters - if you could please send me some oil for my jet, I would truly appreciate it," he further said.
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