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Actor Stephen Baldwin opened up about his past financial struggles, including filing for bankruptcy at 43 and a lawsuit against Kevin Costner. Baldwin, known for his roles in the 1990s, admits that a lack of financial awareness led to his downfall, with actor strikes and unforeseen circumstances exacerbating the situation. He shared that creatives often face financial dysfunction, and he didn’t have a “rainy day fund” to fall back on. During this turbulent time, he lost a home to foreclosure.
In 2010, Baldwin launched a $3.8 million lawsuit against Costner over oil-separating technology developed by Costner’s brother, which was utilized during the BP oil spill. While Baldwin was part of a group hoping to monetize this technology, a jury ultimately sided with Costner, leaving Baldwin empty-handed. Despite losing what he projected as $4.5 million, Baldwin now reflects on the experience with a sense of acceptance, even wishing Costner well in his cinematic endeavors.
