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Ian Somerhalder Reveals Eight-Figure Debt Led to Acting Exit

Ian Somerhalder revealed that "financial upheaval" from a failed business and fraud led to his retirement from television acting seven years ago. He and his wife Nikki Reed faced an eight-figure debt, which they overcame by selling houses, paintings, cars, and watches. Somerhalder credited Reed for negotiating their way out of the financial hole, calling her instrumental in his recovery. The actor is best known for playing Damon Salvatore in the hit series 'The Vampire Diaries', which aired from 2009.

Key Points: Ian Somerhalder Left Acting Due to Eight-Figure Debt

  • Ian Somerhalder retired from acting seven years ago
  • He faced an eight-figure debt from a failed business
  • Wife Nikki Reed helped negotiate and sell assets to recover
  • 'The Vampire Diaries' debuted in 2009 and starred Somerhalder as Damon Salvatore
2 min read

'Vampire Diaries' actor Ian Somerhalder reveals "financial upheaval" led to his television career exit

'Vampire Diaries' star Ian Somerhalder reveals financial upheaval and fraud led to his retirement from television, with wife Nikki Reed helping him recover.

"Due to greed and fraud within that company and fraudulent activities from our biggest customer... I was left in an EIGHT-FIGURE hole. - Ian Somerhalder"

Los Angeles, May 1

Actor Ian Somerhalder, best known for his portrayal of Damon Salvatore in 'The Vampire Diaries', confessed to being in an eight-figure debt after taking retirement from acting.

Speaking to E! News, Somerhalder shared that "financial upheaval" was a part of the reason that made him leave a lucrative television career.

"I retired from acting seven years ago. I left an insanely lucrative career in television after financial upheaval from building a business that I didn't build properly. And due to fraud, it put my wife and I into an eight-figure hole. Eight figures is a hard hole to climb out of. But Nikki (Reed) and I did it. You know, she really negotiated us out of this deal, but we sold houses, paintings, cars, watches, everything," the actor said, as quoted by Variety.

Somerhalder and Nikki Reed have been married since 2015.

In a 2021 Instagram post, the actor once shared how his wife helped him out of a difficult phase.

"Before Nik and I got together, I built a company while shooting TVD that was important to me. I invested heavily, and I made huge personal guarantees to banks. However, due to greed and fraud within that company and fraudulent activities from our biggest customer, not to mention the temporary collapse of the oil and gas industry, I was left in an EIGHT- FIGURE hole. It was awful. A true nightmare day in and day out. I had to travel the world weekly to pay for massive monthly six-figure bank notes, and ended up in the hospital 4 times in 2 years. This woman here decided that she didn't want to see her husband ruin his body/mind/spirit and pulled up her bootstraps and got down in the trenches assembling a team to get to the negotiating table to find a way out. She devoted her life to getting me out of that mess, and it almost killed her along the way. I am where I am BECAUSE of this woman," a part of the post read.

One of the most cherished shows, 'The Vampire Diaries', debuted in September 2009, bringing the iconic story from Mystic Falls, Virginia, to the small screen.

Featuring Nina Dobrev, Paul Wesley, and Ian Somerhalder in the lead roles as Elena Gilbert, Stefan Salvatore, and Damon Salvatore, the show followed a love triangle built around the supernatural world of vampires, witches, werewolves and more.

- ANI

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Reader Comments

V
Varun X
Honestly, this is a cautionary tale for all of us. Even after making it big, one wrong business move can wipe everything out. But what's truly admirable is how they faced it head-on instead of filing for bankruptcy or running away. Sold paintings, cars, watches - they didn't shy away from hard decisions. Respect. 🇮🇳
N
Nikhil C
Wait, he was in the hospital 4 times in 2 years because of all this stress? That's terrifying. Makes you realize that behind all the Hollywood glamour, real life struggles are the same everywhere. I hope they are in a much better place now financially and mentally.
S
Sneha F
I'll always love Damon Salvatore! But this story really shows that no matter how successful you are, you can't ignore business fundamentals. "Building a business I didn't build properly" - such an honest admission. Hope he comes back to acting someday though! 🤞
A
Aman W
This is a good reminder to always diversify income streams and never put all eggs in one basket. Also, why did he have to give personal guarantees to banks? That's risky business. But hats off to the couple for climbing out of that 'eight-figure hole'. True grit!
R
Riya H
The part about Nikki Reed stepping up to negotiate the deal is so inspiring. In our culture, we often see wives supporting husbands through tough times, but it's great to see such a strong partnership acknowledged publicly. Also, Ian Somerhalder will always be our Damon! ❤️

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