Ian Somerhalder is opening up about one of the most challenging periods of his life. The actor has revealed that a failed business move left him and his family facing serious financial trouble. Instead of staying quiet, he has shared how the experience reshaped his outlook on work and risk. Now, he is reflecting on how he managed to rebuild from that low point.
Ian Somerhalder recalls how he and his family dealt with massive debt
Speaking to “E! News” at the Beverage Forum in Manhattan Beach, California, Somerhalder revealed that he stepped away from acting nearly seven years ago following a major financial setback.
“I left an insanely lucrative career in television after financial upheaval from building a business that I didn’t build properly,” he said. He added that fraud tied to the venture pushed him and his wife, Nikki Reed, into an “eight-figure hole.”
The situation escalated after Somerhalder made significant personal guarantees to a bank for a clean energy company. “It all came crashing down,” he admitted. The couple then took drastic steps to recover. “Eight figures is a hard hole to climb out of, but Nikki and I did it,” he said. “We sold houses, paintings, cars, watches, everything.”
Somerhalder credited Reed for playing a major role in turning things around. He said she led negotiations and helped rebuild their financial stability during what he described as a “true nightmare.” He says that the experience, though difficult, taught him valuable lessons about business and risk management.
The “Vampire Diaries” star also acknowledged that he could have taken a different path. “I should have been retiring off one of the biggest TV shows in the world,” he said, noting that he instead chose to focus on building companies that did not immediately generate income.
Today, Somerhalder applies those lessons to his ventures, including his bourbon brand with Paul Wesley. He also shared simple advice for couples in business: “Make it fun… find the beauty in all of it.”
Originally reported by Samridhi Goel on Mandatory.
