Vampire Diaries star Ian Somerhalder revealed how he and his wife, Nikki Reed, managed to settle an eight-figure debt. He reflected on how he walked away from a successful TV career, as financial troubles from a poorly set-up business followed. He credited his beloved wife for the deal she was able to crack that eventually got them out of this debt hole.

Ian Somerhalder talks about how family navigated massive debt

In a conversation with E! News, Somerhalder revealed how his family dealt with the massive debt that resulted from a poorly built business. He said, “I retired from acting seven years ago. 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.”

He revealed that things began to fall apart when he personally guaranteed eight figures to the bank for a no-name clean energy company. He reflected on how challenging it was to get out of such massive debt, but credited his wife for helping them overcome it and restore financial stability. “But Nikki and I did it. You know, she really negotiated us out of this deal but we sold houses, paintings, cars, watches, everything,” he elaborated.

Somerhalder has previously addressed his decision to step away from the acting world and has expressed no regrets about it. He said to E! News back then, “I loved what I did for a really long time. I don’t miss any of it. I love making films, and I just did it for so long. We had an amazing run.”

Reed and Somerhalder were involved in romance rumors since July 2014. Their relationship was confirmed when they got engaged the following year. After a few months, they tied the knot at Topanga Canyon in Malibu, California. They share two children, a daughter, Bodhi, and a 2-year-old son, whose name isn’t disclosed publicly.