De Niro, 80, made the announcement through a press release distributed by his publicist. The news has sent shockwaves through Hollywood and the entertainment industry, where De Niro has long been revered not only for his acting prowess but also for his business ventures and philanthropic efforts.

“It is with a heavy heart that I announce my decision to file for bankruptcy,” De Niro’s statement began. “I am deeply ashamed of my actions that have brought me to this point. I take full responsibility for the financial mismanagement and poor decisions that have led to this outcome.”

De Niro’s financial troubles reportedly stem from a series of poor investments and mismanaged funds. Over the years, he has invested in various business ventures, including restaurants, real estate, and film production companies. While some of these investments initially appeared promising, they ultimately did not yield the expected returns.

One notable investment that contributed to De Niro’s financial downfall was his involvement in the Nobu restaurant chain. Although Nobu remains a successful brand, De Niro’s extensive investments in expanding the chain during economic downturns and the COVID-19 pandemic strained his finances significantly.

Additionally, De Niro’s real estate investments, including luxury properties in New York and California, suffered substantial losses due to market fluctuations and the high cost of maintenance. Legal battles with former business partners and mounting debts further exacerbated his financial situation.

De Niro’s extravagant lifestyle also played a significant role in his financial woes. Known for his love of luxury, the actor maintained multiple residences, including a sprawling estate in upstate New York and a penthouse in Manhattan. His penchant for fine dining, travel, and high-end vehicles added to the financial strain.

Reports indicate that De Niro’s divorce from his wife, Grace Hightower, in 2018 further complicated his financial situation. The costly legal battle and subsequent settlement took a substantial toll on his resources, leaving him with mounting debts and dwindling assets.

The public reaction to De Niro’s announcement has been mixed. Fans and colleagues have expressed shock and sympathy for the actor, while others have criticized his financial decisions and lavish spending.

“Robert De Niro is a Hollywood legend, and it’s heartbreaking to see him in this situation,” tweeted one fan. “I hope he can find a way to recover and rebuild.”

However, some critics have been less forgiving. “It’s hard to feel sorry for someone who lived so extravagantly and made reckless investments,” commented another user on social media. “This should be a lesson in financial responsibility.”

Within the entertainment industry, De Niro’s bankruptcy has sparked a broader conversation about financial management and the pressures faced by celebrities. Many actors and filmmakers have come forward to share their own experiences with financial struggles and the challenges of maintaining a stable income in a volatile industry.

Prominent Hollywood producer Harvey Weinstein, who himself faced financial and legal troubles, commented on the situation: “Robert De Niro’s bankruptcy is a stark reminder that even the most successful individuals in our industry are not immune to financial hardship. We need to support each other and promote better financial literacy among our peers.”

Adding to the complexity of De Niro’s situation is his outspoken criticism of former President Donald Trump. De Niro has been a vocal critic of Trump for years, often using his platform to condemn Trump’s policies and actions. This public feud reached a new height when Trump was convicted in the hush money case involving adult film star Stormy Daniels.

De Niro expressed his relief and gratitude over Trump’s historic conviction, stating, “I think justice was served.” Speaking on the red carpet for his new movie “Ezra,” De Niro voiced his opinion: “This is just one part of the whole picture, so I want to be very careful. This never should have gotten to this stage. I don’t want to be talking, but I am so upset by it. I have to say something. This is my country. This guy wants to destroy it. Period. He’s crazy.”

Trump was found guilty on all 34 felony counts after it was alleged that he paid Daniels $130,000 to cover up a 2006 sexual encounter, then falsified records to claim the money as a legal expenditure. De Niro’s public stance on this issue may have also played a role in the financial and social pressures he faced.

Despite the grim situation, De Niro remains determined to recover and rebuild his finances. In his statement, he outlined a plan to address his debts and regain financial stability.

“I am committed to making amends and working diligently to repay my debts,” De Niro stated. “I have sought the advice of financial experts and am taking steps to liquidate assets and restructure my finances. I am confident that, with time and effort, I can overcome this setback.”

De Niro also expressed his intention to return to acting with renewed focus and dedication. “Acting has always been my passion, and I am determined to continue my career with renewed vigor. I am grateful for the opportunities I have had and the support of my fans and colleagues. I hope to earn back their trust and respect through my future work.”

In the wake of De Niro’s announcement, several high-profile figures in Hollywood have expressed their support for the actor. Fellow actors, directors, and producers have reached out to offer their assistance and encouragement during this challenging time.

Actor Leonardo DiCaprio, who has worked with De Niro on multiple projects, stated, “Robert is a true artist and a mentor to many of us in the industry. I have no doubt that he will bounce back from this. His talent and resilience are unmatched.”

Director Martin Scorsese, who has collaborated with De Niro on numerous films, including “Goodfellas” and “The Irishman,” also voiced his support: “Robert De Niro is a legend, and his contributions to cinema are immeasurable. We all make mistakes, and I stand by him as he navigates this difficult period.”

De Niro’s bankruptcy serves as a cautionary tale for celebrities and individuals alike about the importance of financial management and the risks associated with lavish spending and poor investments. It highlights the need for better financial education and support systems within the entertainment industry to help artists manage their wealth responsibly.

Financial advisor Jane Smith commented, “Robert De Niro’s situation underscores the importance of seeking professional financial advice and making informed decisions about investments and spending. It’s crucial for individuals, regardless of their income level, to prioritize financial stability and plan for the future.”

As Robert De Niro faces this challenging chapter in his life, his resilience and determination will undoubtedly play a crucial role in his recovery. With the support of his fans, colleagues, and the broader Hollywood community, De Niro has the opportunity to rebuild his finances and continue his illustrious career.

In his closing statement, De Niro expressed gratitude for the outpouring of support and pledged to learn from his mistakes. “I am deeply touched by the support I have received from my friends, colleagues, and fans. I am committed to learning from this experience and emerging stronger. Thank you for standing by me during this difficult time.”

Robert De Niro’s journey serves as a reminder that even the most celebrated individuals face challenges and setbacks. It is his resilience, humility, and dedication to his craft that will ultimately define his legacy in Hollywood.