Details About Kyra Sedgwick And Kevin Bacon's Disastrous Financial Troubles

Kyra Sedgwick and Kevin Bacon, who are among the famous couples who have been together for decades, endured extreme financial troubles after putting their trust in Bernie Madoff, the since-deceased financial expert who infamously defrauded thousands of innocent clients out of billions of dollars. Sedgwick and Bacon were, unfortunately, two of Madoff's victims, and lost a substantial portion of the wealth they'd earned from their respective acting careers. Speaking exclusively to Nicki Swift, Aaron Cirksena, founder and CEO of MDRN Capital, shares some expert insight on the devastating impact of a Ponzi scheme like the one the couple fell prey to.

"It's not just losing money but it's losing trust and that can destroy your confidence," says Cirksena. Sedgwick revealed that this is exactly what happened to her in a June 2009 AP News interview, saying (via Intelligencer), "It's been really unpleasant and makes you feel really vulnerable." It's been estimated that she and Bacon lost around $30 million — an amount most people would be desperate to get back. However, Cirksena warns victims of fraud not to make any sudden financial decisions out of desperation, as it could do more harm than good. "The first thing to do is stop reacting emotionally and slow down. When people come offering to 'help recover' your funds, be very skeptical because that's how victims get hit twice," he advises. 

Cirksena says that victims should consult with a trustworthy fiduciary advisor and make sure that they preserve all of their financial documents. "Sometimes, years later, restitution funds or legal claims return part of what was lost," he explains. This is what happened to Sedgwick and Bacon, who revealed on the "Smartless" podcast that they got "a portion of some money back."

Kyra Sedgwick acknowledged that many of Bernie Madoff's victims lost much more than she and Kevin Bacon, and expressed gratitude for the good things in their life. "The fact of the matter is that we did not lose everything," she told AP News. Unsurprisingly, Sedgwick's gracious response mirrors Bacon's thoughts on the matter. "It sucked, and we were certainly angry and all the things," he told Esquire in 2024. "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."

According to Aaron Cirksena, focusing on what you can control is a smart move for victims of financial scams. "Focus on rebuilding your stability, cash reserves, investments, and anything you can easily verify," he tells us. As for future financial decisions, he advises, "Don't swear off investing — learn from it. Simplicity and transparency are your friends. If someone can't explain exactly how your money makes money, walk away."

Fortunately, Bacon and Sedgwick overcame financial ruin and are doing quite well today, so they clearly made some pretty sound financial decisions after getting scammed. Their hard work has paid off for them tenfold, with Celebrity Net Worth listing their shared net worth as $45 million — wealth earned through their successful acting careers, endorsements, and investments. However, their talent hasn't been their only saving grace in their post-Madoff world. According to Benzinga (via Yahoo! Finance), the couple's real estate portfolio, which has appreciated in value over the years, also helped them bounce back financially.