Alex Carson
Kim Basinger was an incredibly popular actress during the 1980s and 1990s. She was known for her classic Hollywood style and starred in numerous iconic films, including Batman, Never Say Never Again, and L.A. Confidential. Despite her fame, the actress has been largely away from the public spotlight in recent years. A string of financial setbacks has left the actress almost destitute. This starkly contrasts her previous status as an A-list celebrity with a net worth of $5.5 million. Join FactsVerse as we fill you in on the details of Kim’s fall from grace.
Rise to fame
Kim Basinger is a highly celebrated American actress and former fashion model. Born in Athens, Georgia, in 1953, Basinger showed an early interest in the arts, particularly music, and ballet. However, her stunning good looks caught the attention of scouts from the Ford Modeling Agency, who signed her up at the age of 16.
Basinger quickly became one of the most sought-after models of the 1970s. And working for top brands such as Revlon and Breck. However, she soon realized that her true passion lay in acting, and she began taking acting classes while still modeling. Her career was in full swing during the 1980s and 1990s. And she quickly became recognized as one of Hollywood’s leading actresses. Her stunning good looks and undeniable talent made her a favorite among both moviegoers and critics alike.
After making her feature film debut in the drama Hard Country (1981), Basinger appeared in several made-for-TV films. And including a remake of From Here to Eternity (1979). However, her big break came in 1983 when she portrayed Bond girl Domino Petachi in Never Say Never Again. Her outstanding performance cemented her position as a rising star in Hollywood and was much lauded.
Basinger’s career continued to soar with her role in the 1984 film The Natural. And for which she received a Golden Globe nomination. She followed this up with another iconic performance in the erotic drama 9½ Weeks (1986). And which showcased her versatility as an actress.
In 1989, Basinger portrayed Vicki Vale in Tim Burton’s Batman, which became the highest-grossing film of her career. Her performance was praised by critics. And it helped to cement her status as one of the most sought-after actresses of the time.
Throughout the 1990s, Basinger continued to work on a variety of film projects, including the critically acclaimed L.A. Confidential (1997), for which she received numerous award nominations. She also appeared in The Door in the Floor (2004). And which was based on John Irving’s novel, A Widow for One Year.
Failed projects
In the late 1980s, Kim Basinger was at the height of her Hollywood career. However, she embarked on a couple of projects that didn’t bring back the expected results, despite their ambitious nature. One of those projects the purchase of a town – a move that was considered unusual even by Hollywood standards. Braselton, a town in Georgia, was the target of Kim’s investment.
Previously owned by the Braselton family for over 113 years. The 2,000-acre town needed a facelift, and Kim Basinger saw an opportunity to boost its profile. She partnered with a pension fund called AmeriTech (now owned by AT&T) to buy the town. Together, they invested $20 million, with Kim Basinger contributing $600,000 of her own money to the project. However, with Kim filing for bankruptcy, players involved with the project began to grow cold feet. And below long, the deal fell through. Despite her good intentions, Kim couldn’t lead the town to the Utopian vision she had for it.
Kim had hoped to inject the town with some life, intending to host film festivals and other Hollywood events there. The town, which had dealt with constant hard times throughout its history, did not receive the investment it needed. And Kim’s efforts to bring business and opportunities to rural parts of the “fly-over” states were unsuccessful. The property later resold for just $4.3 million, resulting in a considerable loss for the investors.
Although the sale of the town resulted in a massive financial loss for Kim and AmeriTech, the small town eventually received the facelift it had been longing for. The new owners invested the perfect blend of capital, time. And effort into the town, and it has since transformed into a bustling destination. Presently, it draws 500,000 visitors annually due to its winery and resort and serves as a distribution center for prominent brands such as Whole Foods, Williams-Sonoma, and Hitachi. As a result, the town that once faced financial struggles is now a thriving community that has become a beacon for businesses and tourists alike.
Another project that Kim undertook, which didn’t go as planned, the movie “I Dreamed of Africa.” In 2000, Basinger starred in the big-screen adaptation of Kuki Gallmann’s memoir, which told the true story of a single mother who risked everything to move to Kenya with her son in pursuit of adventure and a new start. Kim found the experience of making the movie on location to be life-changing. However, the movie failed to resonate with critics, with the majority of them describing it as dull and failing to entertain. The whole project cost $50 million but only managed to pull in $14 million at the worldwide box office.
Expensive divorce
Kim’s fairytale romance with Alec Baldwin turned into a nightmare that cost her millions. Kim and Alec Baldwin were two famous Hollywood celebrities who were once romantically involved. They first met while filming the movie “The Marrying Man” in 1990, and their on-screen chemistry quickly turned into a real-life romance. The couple married in 1993 and had their first child, a girl named Ireland, in 1995.
Despite the apparent happiness of their marriage, their relationship was not as perfect as it seemed. The couple started to experience problems in their marriage, and eventually, they separated in 2000. The split led to a highly publicized and contentious custody battle over their daughter, which lasted for six long years.
The divorce also reported as one of the most expensive in Hollywood history, with both parties spending more than $3 million each on legal fees. The high cost of the divorce, combined with the bitter custody battle, took a toll on their public image and career prospects.
During the legal proceedings, Kim and Alec exchanged insults and accusations in public and court, which further damaged their reputations. However, in 2007, the former couple finally settled their divorce and custody issues and have since attempted to mend their relationship for the sake of their daughter.
Filing for bankruptcy
In the early 1990s, Kim Basinger was a high-profile actress with a successful career in Hollywood. However, she also had her fair share of controversies during this time. One of the most notable controversies involved her role in the movie “Boxing Helena.”
Directed by Jennifer Lynch, the daughter of famed filmmaker David Lynch, “Boxing Helena” a highly controversial film that was originally intended to star Madonna. However, after Madonna backed out, Basinger cast in the title role. The movie tells the story of a woman named Helena who gets her limbs amputated by a surgeon after a car accident and is then held captive in a box.
Basinger had concerns about the script from the beginning and requested that edited to make her character more sympathetic. However, she remained unsatisfied with the final version and ultimately backed out of the movie, breaching her contract with the studio.
During her 1993 trial, Basinger revealed that she had shared the script with 15 or 20 people in the entertainment industry and had received overwhelmingly negative feedback, which was why she backed out. The actress was found guilty of breach of contract with Main Line Pictures, who estimated a loss of $6.4 million in potential domestic and foreign sales due to Basinger dropping out. As a result, Basinger was ordered to pay $7.4 million in damages, according to Variety.
In late May of 1993, with the $7.4 million judgment against her looming, Basinger filed for Chapter 11 bankruptcy. Her lawyer, Howard Weitzman, revealed that her net worth was only $5 million, so she had no choice but to file. By filing for bankruptcy, Basinger avoided the immediate seizure of her assets.
However, in September 1994, the California Court of Appeals overturned the judgment that ruled in favor of Main Line Pictures. The court ruled that the instructions given to the jury were “prejudicially ambiguous” and did not make it clear whether Basinger or her production company would be liable for damages. The court also found that the damages awarded to Main Line Pictures were excessive.
The lawsuit between Basinger and Main Line Pictures finally settled in December 1995, with Variety reporting that the final figure less than half the amount of the original judgment.
Appearing unrecognizable
Kim recently attended her daughter Ireland Baldwin’s baby shower at Jumbo’s Clown Room in Hollywood, looking almost unrecognizable. Exiting the strip club-themed party, the 69-year-old actress seen wearing a dark grey suit paired with a black button-up and black dress shoes. She walked alongside her boyfriend, hairstylist Mitch Stone, hand-in-hand.
However, Basinger’s minimal makeup and radiant, nearly wrinkle-free appearance left some speculating whether she had undergone plastic surgery. The Evening Standard, a UK publication, claimed in 2006 that Basinger, who was 52 at the time, had an extremely wrinkle-free forehead and her lips appeared plumper than usual during a press conference for “The Mermaid Chair.” There were also rumors in 2011 that she had been seen leaving a plastic surgeon’s office in Beverly Hills, with Radar Online reporting that she looked almost unrecognizable entering the building.
Despite these rumors, Basinger has never confirmed undergoing plastic surgery. Her daughter, Ireland, has previously claimed that her mom is all-natural. In a 2012 Instagram post, Baldwin captioned a since-deleted picture of her mom, praising her for having a naturally beautiful face.
She also advocated for women who want to avoid Botox and other skin treatments to listen to her mom, who had never had one treatment done due to staying out of the sun all these years.
Kim Basinger, who became a recluse due to her agoraphobia, has been the subject of various plastic surgery rumors over the years. However, whether she has undergone any procedures or not, it is clear that the actress continues to have a striking appearance and an alluring charm, which has captivated audiences for decades.
Kim’s current financial predicaments can be attributed to her failed projects, her expensive divorce from actor Alec Baldwin and the lawsuit she settled with Main Line Pictures. Of course, being a celebrity also comes with lavish spending habits, which could have also run her into the mud. But regardless of her financial standing, she remains a renowned figure in Hollywood.
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