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Kevin Bacon Opens Up About Losing Millions in Ponzi Scheme; Reveals How He and Wife Kyra Sedgwick Coped
Kevin Bacon discusses the financial setback caused by Bernie Madoff's Ponzi scheme and how he coped with the loss, thanks to the support of his wife.
Kevin Bacon opened up about the financial hit he and wife Kyra Sedgwick incurred as victims of Bernie Madoff's infamous Ponzi scam. He revealed how they opted to be resilient rather than regretful nearly a decade and a half on.
In an interview with Esquire recently, the You Should Have Left actor admitted to the initial shock and outrage they felt when they discovered they had lost a large part of their wealth. He said, "It sucked, and we were certainly angry and all the things."
But the couple soon changed their priorities to what really mattered—health, family, and being able to continue working. The Taking Chance actor added, "But then we woke up the next day and said, ‘What do we got? We love each other. We love our children. We’re healthy. No one took away our ability to make a living.’ So we got back to work."
Bacon also mentioned that his daily regimen involves a graphic reminder of what happened. He goes to a gym in New York City, which is located right in front of the building where Madoff used to have his offices. When working out on the leg press machine by a window, he catches himself staring at the very place where their money disappeared.
But he sees the experience metaphorically—grinding out the physical stress, adding, "It’s perfect, in a funny way, because I also have to think, 'I can get through this,' and that’s how we felt about Madoff."
In 2015, the actor said that the financial loss brought him and his wife of more than 35 years, Sedgwick, closer together. Instead of breaking their relationship, the common adversity strengthened their bond. He stressed that during the loss, the couple never got mad at each other but assessed the situation with great compassion.
He told GQ, "I don’t think there was a moment where it was like, that thing happened and then we got pissed at each other. It was sort of the opposite... We kind of went, ‘Holy s–t. Let’s … I don’t know. Let’s have s*x or something. It’s free!'"
Although never speaking publicly about the actual amount, estimates have Kevin Bacon and Kyra Sedgwick missing out on millions in Madoff's $65 billion scam, as per Page Six. Bacon, now 66, stressed the experience was distressing but had not made them bitter. It had, rather, made them more careful and grounded in values.
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