Kevin Costner 'Heading for Bankruptcy' After Investing His Own Cash in Vanity Western Flop 'Horizon'

Hollywood cowboy Kevin Costner could kick himself — with spurs on — now that he’s acing a financial meltdown after the stunning box-office-free fall of his Western saga vanity project. The actor, 69, put his stunning Santa Barbara estate on the line to help fund the ambitious $100 million, four-movie project Horizon: An American Saga . But the former Yellowstone actor’s passion project might just be his biggest flop yet — with the first installment earning a dismal $11 million on its opening weekend and New Line Cinema pulling the second movie from its August release, potentially leaving Costner without a home on the range.

The box-office-bomb took Costner off-guard, considering it earned him an 11-minute standing ovation from peers at the Cannes Film Festival premiere in May. However, it left a lot of critics less than thrilled. An insider shared: “Kevin could be wiped out by this disaster. Everyone warned him not to invest his own money, but he ignored the advice and ended up sinking $38 million of his own cash into it. Now he can kiss all that money goodbye!” Despite admitting he’s “not a very good businessman”, Costner refused to heed the warnings of experts, including his own accountant, according to sources. “Kevin mortgaged his ten-acre Santa Barbara ranch on the water to fund this dream."

“He’s stubborn and refuses to listen to anyone. No one believes in themselves more than Kevin, even though he became a laughingstock after his flop Waterworld .” Meanwhile, Costner is moving on after wife Christine Baumgartner filed for divorce in May 2023. The former couple share three children - Cayden, 17, Hayes, 15, and Grace, 14 - and a court battle over child support ensued, with the actor finally ordered to pay the onetime handbag designer $63,209 a month.

But Christine, 50, did not let the tumbleweeds gather before moving on — she’s been dating Costner’s former pal, 49-year-old financier Josh Connor , since the split and now there’s even talk that they’re ready to take it to the next level! By contrast, Costner’s budding romance with Jewel , 50, has seemingly reached a dead end, although insiders said he is desperate to "turn his luck around."