Kevin Bacon Opens Up About Losing Millions in Ponzi Scheme; Reveals How He and Wife Kyra Sedgwick Coped

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Kevin Bacon spoke candidly about the significant financial losses he and his wife, Kyra Sedgwick, suffered due to being victims of Bernie Madoff’s notorious Ponzi scheme. He shared how they chose to be resilient instead of wallowing in regret, more than a decade and a half later.

It was really tough, and we definitely felt angry – just like anyone would.

Instead of focusing on other things, the pair swiftly shifted their focus towards what truly mattered – health, family, and maintaining their livelihood. As the actor from Taking Chance put it, “The next day, we realized that we have each other, our children, good health, and the ability to earn a living again. So, we went back to work.

Additionally, Bacon shared that his routine often prompts a vivid memory. He frequents a gym in New York City, directly facing the building where Madoff’s offices once stood. While exercising on the leg press machine near a window, he finds himself drawn to gaze at the exact spot where their funds seemingly vanished.

As a fanatic, I perceive it symbolically – enduring the actual strain feels like relentless grinding. Yet, there’s an odd sense of perfection in this, as it mirrors the mental challenge: ‘I can push through this.’ This is reminiscent of our collective mindset concerning Madoff, where we too had to believe we could weather the storm.

In 2015, the actor expressed that a significant financial setback actually drew him and his wife Sedgwick, who they’ve been married to for over 35 years, even closer. Rather than causing a rift in their relationship, this shared hardship fortified their connection. He highlighted that throughout the difficult period, neither of them became angry with each other but instead approached the situation with empathy and understanding.

He shared with GQ that it wasn’t as if there was a specific instance when we became angry at each other. Instead, it seemed more like… We exclaimed, “Wow! What the devil, let’s… I can’t quite put my finger on it. Let’s make love or something. It’s gratis!

Estimates suggest that Kevin Bacon and Kyra Sedgwick, despite not publicly disclosing the exact figure, may have lost millions due to their investments with Bernie Madoff’s $65 billion fraud scheme, as reported by Page Six. At 66 years old, Bacon emphasized that the experience was troubling but did not turn them sour. Instead, it made them more cautious and deeply rooted in their values.

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2025-04-05 15:52