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How Kevin Bacon & His Wife Overcame Losing Their Fortune to Bernie Madoff
Actor Kevin Bacon has not spoken much about Bernie Madoff since he and his wife were victims in the Ponzi scheme that led to Madoff’s arrest in 2008.
However, in an interview with Esquire that was published on April 4, they asked if it was okay to discuss Madoff.
“There’s not that much to say, really,” Bacon answered. “If it seems too good to be true, then it’s too good to be true.”
The interviewer followed that up by noting that Bacon and his wife, Kyra Sedgwick appeared to be not “too jaded from the experience”
“No, not jaded,” he answered. “More careful. But not jaded.”
“I go to this gym. It has a few machines and only a handful of people there at any given time. There’s no showers, it’s very bare bones,” he added. “But there’s a leg press machine. A leg press can be brutal… The machine is right next to a window, and when I look out that window, I’m looking right at the building where Madoff was.”
“I’m in excruciating pain, doing the leg press, staring out that window,” Bacon continued. “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.
Bacon has never revealed the exact amount he lost to Madoff, but Madoff’s Ponzi scheme is said to have defrauded people of an estimated $64.8 billion total.
Kevin Bacon Reveals That His Family Got Him Through The Tough Times
Arturo Holmes/Getty ImagesWhile it was a very tough time for Bacon after they learned they had been defrauded by Madoff, he leaned on his family to help him get through it.
“It sucked, and we were certainly angry and all the things,” Bacon explained to Esquire. “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.”
Kevin Bacon Revealed He and His Wife Lost ‘Most of Our Money’ in Madoff Scheme During 2022 Interview
In 2022, Bacon appeared on the Smartless podcast, hosted by Jason Batemen, Will Arnett, and Sean Hayes, and opened up about how he was impacted by Bernie Madoff’s Ponzi scheme.
Specifically, Bacon revealed that he and Sedgwick “had most of our money in Madoff” and admitted that he received a “portion” of the losses returned, but not everything.
“Certainly, you get angry and stuff, but I have to say, there were a lot of people who were much worse off than we were – old people, people whose retirement funds were completely decimated,” Bacon said on Smartless. “So there’s always going to be somebody that’s going to have it a lot worse than you.”
