Most people know Ian Somerhalder as the global heartthrob he became after The Vampire Diaries and a career that would have ensured that his family would never “go hungry”. But behind this success story lies one that is more relatable. Somerhalder recently disclosed that he and his wife, Nikki Reed, once found themselves in a situation where they were in debt up to the tune of a multi-million dollar amount, and had to start from scratch.
Somerhalder’s journey began when he retired from acting. Despite the popularity and success of a popular TV series, he decided to venture into business. But things didn’t go as planned. He recalled those times, saying, “I retired from acting seven years ago. I left an insanely lucrative career in television after a financial upheaval from building a business that I didn’t build properly.” His statement reflects not only a business venture gone wrong, but also the fact that he ventured into a new business uninformed about the risks.
The fact that the venture involved fraud made it even more dire. Somerhalder said, “And because of fraud, it put my wife and I into an eight figure hole.” Personal guarantees might seem like a best-case scenario when passion is combined with business, but they can also be a worst-case scenario. But, as Somerhalder learned, they can also be life-changing liabilities. He said, “Eight figures is a hard hole to climb out of”, a testimony to the dire situation they were in.
It’s hard to fathom the emotional and financial burden of such a situation. For Somerhalder and Reed, there was no easy way out or savior. It was a process of sacrifice, determination and moving forward together. He remembered, “But Nikki and I did it. You know, she really negotiated us out of this deal, but we sold houses, paintings, cars, watches, everything”. This one sentence illustrates the process of rebuilding. It is not glamorous. It is about giving up luxuries, power symbols and the trappings of a lifetime of success to find stability.
There is also a spiritual component to this story. Somerhalder commented on the timing of the incident. “I mean, I should have been retiring off of one of the biggest TV shows in the world,” he said, referencing the massively successful The Vampire Diaries (2009-17). This juxtaposition of expectations and outcomes is one that many people can relate to, both within and beyond Hollywood. Just because someone does well in one aspect of their life doesn’t mean they will do well in another, and sometimes taking risks to grow can also come with its setbacks.
Somerhalder’s life has certainly changed since his days in Hollywood. He and his wife, Reed, whom he married in 2015, have created a more private, family-and-business-oriented life. On a farm outside LA with their children, they have deliberately retreated from the public attention they were accustomed to. This is part of a larger refocusing on personal satisfaction and stability over public fame and fortune.
On the job, Somerhalder has not shunned ambition. Rather, he has refocused it. He launched Brother’s Bond Bourbon with former co-star Paul Wesley, building on a screen chemistry to create a business relationship. He has also joined forces with Reed to create Absorption Company, which offers health products to improve nutrient absorption. These ventures are not only economic recoveries, but also more savvy approaches to business.
But more than the recovery, it is the approach Somerhalder takes that is most interesting. His advice to couples starting a business is indicative of his outlook on failure and success. “The highs and the lows of the experience should be fun,” he said. “The grind is supposed to be fun.” While it seems obvious, it’s an important message coming from someone who has experienced both the heights and the depths of success. He continued, “There’s a beauty in all of that,” implying that even the challenging experiences can be valuable.
In more recent interviews, Somerhalder has also talked about juggling different commitments, saying, “We’re creating three companies while raising kids”. This comment shows how complex his life is currently, with business and family life closely linked. It also reveals a transformation in his identity, from actor to entrepreneur, from artist to inventor.
Notably, after such a successful career as an actor, Somerhalder has no plans to go back to it. “I did it for so long and I loved it for so long. I don’t miss it. I love to make movies and I have made so many movies and we had a great run.” In his statement, he sounds accepting of the fact that this part of his life has passed.
These kinds of stories can challenge the idea that stardom is a guaranteed path to prosperity. On the contrary, they underline the impact of financial, social and other decisions in changing career trajectories. But they also show the capacity for recovery, through resilience, flexibility and the love of family and friends.
