Al Pacino Went Broke After Spending $50 Million on 16 Cars, 23 Cell Phones and $400,000 on Landscaping: ‘I Didn’t Understand How Money Worked’

Al Pacino, one of Hollywood’s most famous actors, didn’t get into acting for the money. But over the years, despite starring in classics like The Godfather and Scarface, he managed to squander his million-dollar fortune and eventually found himself in a serious financial mess.

In his memoir “Sonny Boy,” Pacino admits that he wasn’t just bad with money – he was terrible. At one point, his financial situation deteriorated so much that he had to take roles in films like Jack and Jill, a film he openly admits was for one reason: he was broke.

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How did Al Pacino go bankrupt?

You may be wondering how someone who has reached the pinnacle of fame and collected millions can lose everything. In Pacino’s case, his poor money management and extravagant lifestyle led to his downfall. In his memoirs he reveals how bad things got. “I had about ninety grand in the bank and that was it,” he wrote, sharing that he spent a fortune without making much.

In fact, he was losing around $400,000 a month – a sum that included the upkeep of two houses, several apartments and even an office. “I was spending $400,000 a month and I didn’t know it was happening. You must be stupid,” he wrote. He elaborated: “I had property but no money…The kind of money I was spending and where it was going was just a crazy montage of losses.”

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He joked about his ridiculous expenses on landscaping a house he didn’t even live in, spending over $400,000 a year trimming the lawn.

Pacino admits that while he could blame everyone from his accountants to his manager, the real problem was that he had absolutely no idea how money worked. He says: “I didn’t understand how money worked, just like I didn’t understand how a career worked. It was a language I just didn’t speak.”

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The “Jack and Jill” debacle

In 2011, Pacino’s money problems reached their lowest point. His accountant had been running a Ponzi scheme and, Pacino later found out, was sentenced to prison. This left him in financial freefall. “I had fifty million dollars and then I had nothing,” Pacino wrote, reflecting on how quickly the money disappeared. Faced with rising costs, Pacino took on projects solely for financial reasons.

One of these projects was Jack and Jill, the 2011 Adam Sandler film that was widely panned by critics (it received a 3% rating on Rotten Tomatoes). In the film, Pacino plays an exaggerated version of himself and stars in a fake Dunkin’ Donuts commercial that left audiences shuddering. So why did he do it? Pacino openly admitted, “It came at a time in my life where I needed it because I found out I had no money left.”

Despite the film’s failure, Pacino takes everything in stride. And while many fans thought Jack and Jill’s Dunkin’ Donuts commercial was real, he later clarified, “Do you know how many people think I actually did that commercial?”

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From extravagance to downsizing

Pacino’s spending habits were legendary. He spent money on 16 cars, owned 23 cell phones and, at the height of his wealth, maintained a lifestyle that would have cost nearly $900,000 a month in today’s dollars. But when his money ran out, he had no choice but to downsize. He sold one of his houses, made commercials for Australian television and even started giving seminars to make ends meet.

His financial recovery took time, but Pacino has found his footing again, thanks in part to his more recent projects. For example, his contract with HBO earned him $10 million per film and he already had three films under his belt. Furthermore, his role in 2019’s The Irishman, directed by Martin Scorsese, earned him a handsome paycheck of $20 million.

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A lesson in financial responsibility

Now in his 80s, Pacino admits he’s learned some tough lessons when it comes to money management. “Scarface” remains his most lucrative film and the remains of the film still support him to this day. “I can make a living at this, I mean I could if I lived like a normal person,” he wrote with a touch of humor.

But perhaps the most telling part of his story is that even someone as successful as Al Pacino can make mistakes when it comes to money. And while his roles in films like Jack and Jill may not be fondly remembered, they are a reminder that even the greatest actors are not immune to financial challenges.

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