'Vampire Diaries' star Ian Somerhalder reveals shocking financial collapse

Ian Somerhalder, famously known for his role in Vampire Diaries, opened up about severe financial crisis that changed his life.

Speaking with E! News, the retired American actor shared that after a failed business deal he and his family was left in significant debt.

Somerhalder, who stepped away from acting nearly seven years ago following what he described as major financial upheaval, shared, "I left an insanely lucrative career in television after financial upheaval from building a business that I didn’t build properly."

As per Somerhalder, fraud tied to the venture pushed him and his wife, Nikki Reed into an "eight-figure hole."

"Eight figures is a hard hole to climb out of, but Nikki and I did it. We sold houses, paintings, cars, watches, everything," the former actor added.

Crediting Reed for playing major role in helping rebuild their financial stability during "true nightmare," Somerhalder said that the experience taught him lessons about business and risk management.

Notably, Ian Somerhalder acknowledged that he could've taken different path, saying, "I should have been retiring off one of the biggest TV shows in the world."

It is pertinent to mention that the retired actor, famously knwon for playing Demon Salvator in The Vampire Diaries, is now applying the lessons his tough times taught him to new projects, including the bourbon brand he co-founded with his TVD co-star Paul Wesley.