How '80s Heartthrob Lorenzo Lamas Really Lost So Much Of His Money

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Lorenzo Lamas has long made it clear that despite finding considerable success in his younger years, the actor's financial situation took a major dip once he hit his early 40s. Lamas has spoken plainly about regretting some of the expenses he took on, and how he ultimately pivoted to be smarter with his money. Younger audiences may know Lamas best for reality shows like "Second Wives Club" and "Leave it to Lamas," the latter of which chronicled the lives of two of his children. However, long before then, he was a TV star thanks to shows like "Falcon Crest" and "Renegade." 

Lamas also came from a famous family, the son of Old Hollywood stars Arlene Dahl and Fernando Lamas. One of his earliest roles was in a little film called "Grease." Not as a T-bird, mind; Lamas didn't have a speaking role, he played Sandy's hunky, clean-cut rebound from Danny. All of the above certainly contributed to Lamas living large for a while, and there's no denying he made a ton of boujie purchases, particularly when it came to transportation. The actor had Harley Davidsons, boats, and even a plane — but unfortunately, not much was dedicated to savings. 

During a 2015 appearance on "Oprah: Where Are They Now," he admitted, "My regret would be not to have prepared more [...] In other words: Put some money away and not spend it so... frivolously on boats and airplanes and houses behind gates, and all that stuff that doesn't really matter," (via HuffPost). Unfortunately, that realization came about much too late, and while the '80s star does still book the occasional job, he's turned his day-to-day attention to aviation instead, as a helicopter pilot. "Aviation is paying the bills now," he confirmed (via Oprah.com).

In addition to his acting work slowing down, Lorenzo Lamas has also been married and divorced several times, and his fifth wife, "Second Wives Club" star Shawna Craig said on the series that it definitely played a part in his money woes. "He's been married five times, including me. He's got six kids he's got to take care of and because of the divorces he's got financial problems," she pointed out in the premiere (via E! News).

Lamas' first two divorces happened before he was 30, and though his first didn't come with a massive price tag (he wrote in "Renegade at Heart: An Autobiography" that Victoria Hindman had only asked for $20,000), others have been significantly more expensive. Of his split from Michele Cathy Smith, he wrote that it was, "A very combative and very expensive civil war." Their legal woes would continue even after the divorce, adding to the expenses ... but again, that was only his second divorce. His third, to Kathleen Kinmont, also became costly, and he wrote that he paid her $8,000 in alimony. His expenses only increased after marrying Playboy Playmate Shauna Sand, the actor writing that he splurged throughout the marriage even letting house renovations spiral out of control in the hopes that it would make Sand happy. However, he wrote, "She is not." Unfortunately, the divorce was equally expensive ... and again, not his last. 

Thankfully, Lamas' fifth and sixth divorces don't seem to have been as costly. His 2019 split from Craig was settled sans spousal support for either party, and in June 2026, the actor told the courts he and sixth wife Kenna Scott didn't have any assets to split either. Perhaps one day Lamas will get a revival like some other '80s stars. It'd be a long time coming — and would certainly help offset some of his past expenses.