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Knewz
Kevin Costner 'Heading for Bankruptcy' After Investing His Own Cash in Vanity Western Flop 'Horizon'
By Knewz Staff,
2024-07-20
Hollywood cowboy Kevin Costner could kick himself — with spurs on — now that he’s acing a financial meltdown after the stunning box-office-free fall of his Western saga vanity project. The actor, 69, put his stunning Santa Barbara estate on the line to help fund the ambitious $100 million, four-movie project Horizon: An American Saga . But the former Yellowstone actor’s passion project might just be his biggest flop yet — with the first installment earning a dismal $11 million on its opening weekend and New Line Cinema pulling the second movie from its August release, potentially leaving Costner without a home on the range. Kevin Costner has good reason to look glum after putting his 10-acre $38 million Santa Barbara estate on the line for his Western saga that bombed at the box office. BY: MEGA The box-office-bomb took Costner off-guard, considering it earned him an 11-minute standing ovation from peers at the Cannes Film Festival premiere in May. However, it left a lot of critics less than thrilled. An insider shared: “Kevin could be wiped out by this disaster. Everyone warned him not to invest his own money, but he ignored the advice and ended up sinking $38 million of his own cash into it. Now he can kiss all that money goodbye!” Despite admitting he’s “not a very good businessman”, Costner refused to heed the warnings of experts, including his own accountant, according to sources. “Kevin mortgaged his ten-acre Santa Barbara ranch on the water to fund this dream." Kevin Costner is recently divorced from ex Christine Baumgartner. BY: MEGA “He’s stubborn and refuses to listen to anyone. No one believes in themselves more than Kevin, even though he became a laughingstock after his flop Waterworld .” Meanwhile, Costner is moving on after wife Christine Baumgartner filed for divorce in May 2023. The former couple share three children - Cayden, 17, Hayes, 15, and Grace, 14 - and a court battle over child support ensued, with the actor finally ordered to pay the onetime handbag designer $63,209 a month. Costner's four-movie project 'Horizon: An American Saga,' got a standing ovation at Cannes, but did not impress critics. BY: MEGA But Christine, 50, did not let the tumbleweeds gather before moving on — she’s been dating Costner’s former pal, 49-year-old financier Josh Connor , since the split and now there’s even talk that they’re ready to take it to the next level! By contrast, Costner’s budding romance with Jewel , 50, has seemingly reached a dead end, although insiders said he is desperate to "turn his luck around."
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