Ian Somerhalder has revealed that he sold nearly all his assets to recover from an eight-figure financial setback linked to a business venture.

The actor shared details of the situation during a recent interview, explaining how financial guarantees connected to an energy company led to significant losses.

The former Vampire Diaries star said his situation changed after making “eight figures of personal guarantees to a bank” for the company.

He described the impact of the experience, stating, “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.”

Somerhalder did not provide specific figures or further detail about the company involved. However, he outlined the steps taken to manage the debt, crediting his wife Nikki Reed for playing a key role in resolving the situation.

“Eight figures is a hard hole to climb out of,” he said. “But Nikki and I did it. You know, she really negotiated us out of this deal, but we sold houses, paintings, cars, watches, everything.”

The actor added that the experience marked a turning point in his career path, as he stepped away from television work to focus on business ventures.