It's been seven years since Ian Somerhalder and his wife retired from acting and moved out of Hollywood to live on a sustainable farm in the countryside near Santa Barbara, .
Showbiz
Somerhalder and Reed Face Crushing Eight-Figure Debt
It's been seven years since Ian Somerhalder and his wife Nikki Reed retired from acting and moved out of Hollywood to live on a sustainable farm in the countrys...
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The 47-year-old Vampire Diaries alum had run into severe financial trouble while working for an unnamed clean energy company start-up after making eight figures of personal guarantees to a bank.
'It all came crashing down,' Somerhalder recalled to E! News on Wednesday.
'I left an insanely lucrative career in television after financial upheaval from building a business that I didn't build properly. And due to fraud, it put my wife and I into an eight-figure hole.'
The Louisiana-born businessman said the debt was 'a hard hole to climb out of' but the 37-year-old Twilight alum 'really negotiated us out of this deal.'
'We sold houses, paintings, cars, watches, everything,' Somerhalder admitted.
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Ian Somerhalder, 47, revealed that he and wife Nikki Reed, 37, wracked up crushing 'eight-figure' debt after they retired from acting; The two pictured in 2024
The Vampire Diaries alum had run into severe financial trouble while working for an unnamed clean energy company start-up; Seen in 2020
He previously credit Reed for rescuing him from the 'terrible' business situation in 2021.
'I've never disclosed this publicly, but this woman worked selflessly for 2yrs to build me out of a terrible business situation I got myself into', he wrote on Instagram.
'It all came crashing down,' Somerhalder recalled to E! News on Wednesday, adding, 'And due to fraud, it put my wife and I into an eight-figure hole'; pictured December 11
Somerhalder said the debt was 'a hard hole to climb out of' but the Twilight alum 'really negotiated us out of this deal' and 'we sold houses, paintings, cars, watches, everything' (pictured in January)
In 2023, Somerhalder and Reed launched a pharmaceutical-grade powdered supplement brand called The Absorption Company with business partners Zeke Bronfman and Nate Medow (pictured in January)
The Actor Award winner previously co-founded Brother's Bond Bourbon in 2021 with his Vampire Diaries 'sibling' Paul Wesley, and they successfully secured $7.5 million in funding last year (pictured April 14)
Somerhalder - who just purchased his first plane (pictured March 18) - is scheduled to sign autographs and take pictures with fans at his next booze event happening at Pavilions in Burbank, California on May 7 from 1-3pm
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Reed founded her own sustainable jewelry company Bayou With Love in 2017 (pictured April 14)
The Actor Award winner - who just purchased his first plane - is scheduled to sign autographs and take pictures with fans at his next booze event happening at Pavilions in Burbank, California on May 7 from 1-3pm.
Meanwhile, Reed founded her own sustainable jewelry company Bayou With Love in 2017.
The homeschooled LA native - who boasts 7.2 million social media followers - is also every bit the influencer with paid partnerships for brands like Joi Women's Wellness, Leica Camera, Prenuvo, Genexa, Cleobella, Stetson and 1 Hotel West Hollywood.
Somerhalder and Reed haven't had an acting gig since co-starring as Dr. Luther Swann and Rachel Thompson in Netflix's 2019 sci-fi series, V-Wars.
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The happy couple was initially introduced by a mutual acquaintance and remained friends for several years before they began their relationship.
Reed was previously married to American Idol contestant Paul McDonald, with whom she tied the knot in 2011.
The pair remained together for three more years before they separated and divorced in 2015.
Somerhalder was also romantically involved with his costar from The Vampire Diaries, Nina Dobrev, from 2010 until 2013.
Somerhalder and the homeschooled LA native haven't had an acting gig since co-starring as Dr. Luther Swann and Rachel Thompson in Netflix's 2019 sci-fi series, V-Wars
Somerhalder played the broody heartthrob Damon Salvatore in the supernatural teen drama The Vampire Diaries for eight years, from 2009 until 2017; Seen with Nina Dobrey in a still
Reed is best known for playing Rosalie Hale in the Twilight film franchise where she starred from 2008 until 2012; Pictured in a still
The pair moved very quickly with their relationship and moved in with each other after only three weeks of dating.
The couple announced that they were engaged in February of 2015, and they went on to tie the knot that April.
Reed is best known for playing Rosalie Hale in the Twilight film franchise where she starred from 2008 until 2012.
Meanwhile Somerhalder
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