Kim Basinger’s career has always been defined by boldness, both on-screen and off.
Renowned for taking creative risks in Hollywood, she once made an even more dramatic move far from the spotlight: investing heavily in a personal vision of transformation.
What followed was a complex story of ambition, financial upheaval, and unexpected cultural legacy that continues to fascinate decades later.
The Bold Purchase
In 1989, Academy Award-winning actress Kim Basinger made headlines by purchasing 1,751 acres of Braselton, Georgia, for $20 million.
Her acquisition included most of the town itself and a stake in the upscale Château Élan Winery and Resort, showcasing a vision that went far beyond typical celebrity investments.
Vision for a Film Empire
According to reports from CEO Today, Basinger aimed to transform Braselton into a vibrant film production hub.
Her dream was to build studios, launch a tourist destination, and establish a thriving local film festival—effectively creating a new cinematic capital in the American South.
Financial Troubles and Bankruptcy
Despite her grand vision, reality dealt a harsh blow.
Legal troubles struck when Basinger withdrew from the controversial film Boxing Helena, resulting in a $7.4 million judgment against her.
Facing insurmountable financial pressure, she filed for bankruptcy in 1993, just a few years after her major investment.
Selling at a Massive Loss
By 1995, the dream had fully collapsed.
Basinger sold Braselton for just $4.3 million, suffering a loss of over 75% on her original investment.
The town that was meant to be her Hollywood in Georgia turned into one of the most infamous financial missteps in entertainment history.
Personal Life During the Crisis
While navigating public financial turmoil, Basinger’s personal life was equally in flux.
She finalized a divorce from makeup artist Ron Snyder during this era, adding emotional stress to her financial challenges.
Nevertheless, brighter days followed when she welcomed her daughter, Ireland Baldwin, with actor Alec Baldwin in 1995, marking a new chapter of personal renewal amid professional rebuilding.
A Bold Move That Inspired Schitt’s Creek
Basinger’s real-life experience of buying and later losing a town helped inspire the creation of Schitt’s Creek, the popular sitcom about a wealthy family forced to move to a small town they once bought as a joke.
Her bold investment and its fallout captured the imagination of the show’s creators, adding a real-world twist to the fictional story.
