Kevin Costner Is Hoping Netflix Can Bail Him Out Of His Horizon Debt, Or He Might Have To Sell His $200M Property Portfolio

No one can accuse Kevin Costner of not putting his money where his mouth is. However, as the veteran Hollywood actor has learned, passion projects can be a dangerous thing.

Costner was very vocal about his self-funded four-part Western drama Horizon and even quit the streaming hit Yellowstone to film it. Horizon, however, tanked at the box office. Recent solid Netflix numbers have been an unexpected salvation, and now, according to Life & Style, the Dances With Wolves star is hoping Netflix will buy the entire series from him to recoup his losses. If not, he might be forced to part with some of his real estate holdings.

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“I fit [Horizon] into the gaps,” Costner told Deadline of his leaving Yellowstone. “They just kept moving their gaps.”

Despite hopes that Horizon might emulate the success of Yellowstone, box office numbers failed to materialize, leaving the acting icon in a deep financial hole.

Horizon’s High Stakes Gamble

“Kevin is good at projecting calm, experience, and a generally level head, but behind the scenes, the whole Horizon project has been stressful to him financially, physically, and even intellectually,” a source who has worked closely with Costner on the Western saga, was quoted as saying in Life & Style. 

Costner reportedly sunk $60 million of his own money into Horizon. However, after the first installment’s weak reception, the second installment didn’t even make it to theaters despite a warmer critical response from the festival circuit.

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After the success of the first Horizon on Netflix, which made it to the top 10, Costner and his team hope the streaming giant will pick up the remaining series and help recoup some of the money the actor poured into the project. 

Netflix Cavalry To The Rescue

The insider quoted in Life & Style feature revealed: “Netflix is the only company with deep enough pockets to completely bail him out of the hole Kevin has dug for himself with these movies. It’s a big check to write,” the insider continued “but if the first movie continues to perform well for Netflix’s viewers, the expectation around town and even within Kevin’s Hollywood circle is that Netflix will eventually step up and buy the rights to the whole series and take Kevin out of debt.” 

Costner’s Real Estate Nest Egg

It’s not as if Costner sacrificed all his money for the Horizon project. According to court documents from his recent divorce — as revealed in realtor.com — the actor has a substantial net worth of $400 million. He earned $1.3 million per episode for Yellowstone and used his considerable real estate holdings to bankroll Horizon.

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One property in particular provided the funding—a spacious compound in Carpinteria, California, purchased in 1988. He and his first wife, Cindy Silva, lived there after marrying in 1978. They split in 1994. The property is estimated to be worth $145 million, and Coster took out a mortgage on the home to pay for Horizon.

The Carpinteria property, which sits on 1.4 acres of land, comprises a main house and two additional homes, all of which offer sweeping views of the Pacific Ocean. When Costner and Silva divorced, Costner took sole ownership of the home. 

The property was thrown back into the spotlight during the actor’s most recent divorce from designer Christine Baumgartner last year when she refused to leave and moved into one of the smaller homes on the land. However, because Costner purchased the property before the two were married, his ex, according to standard divorce law, would not have a claim to his pre-marital assets. Eventually, Baumgartner did leave.

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Funding His Artistic Vision

In using his primary asset to fund a risky movie venture, Costner turned a deaf ear to his financial advisors. He told Deadline at the time: “I’ve mortgaged 10 acres on the water in Santa Barbara where I was going to build my last house. But I did it without a thought. It has thrown my accountant into a f— conniption fit. But it’s my life, and I believe in the idea and the story.”

Costner’s other real estate jewel is his sprawling Aspen, Colorado, ranch. He and Baumgartner bought the property in 2000 for $300,000 and were married there in 2004. The vacation hot spot includes a lake, a baseball field, a sledding hill, and three hot tubs. Full-time staff keep the ranch in pristine condition, enabling it to be rented out for $36,000 a night and as much as $250,000 per week.

Though Costner’s romantic life and film career have undergone the same triumphs and pitfalls as many others in his business — his real estate holdings have undoubtedly been his best investment.

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