Most people remember Lorenzo Lamas as the handsome heartthrob from Falcon Crest and the action hero from Renegade. He was everywhere in the ’80s and ’90s—on TV screens, in magazines, living the Hollywood dream. But here’s the shocking part: Lorenzo Lamas net worth today sits at just $1.5 to $2 million. For someone who starred in hit shows for nearly two decades, that number seems impossibly low.
What happened? Where did all the money go? The answer involves six marriages, two bankruptcy filings, expensive toys, and some financial decisions that Lamas himself admits were mistakes. Let’s break down the whole story—from his rise to stardom to his financial collapse and where he stands today.
Overview of Lorenzo Lamas’ Current Net Worth
Lorenzo Lamas net worth in 2024-2025 is estimated at $1.5 to $2 million. Compare that to other ’80s TV stars who’ve maintained fortunes in the tens of millions, and you’ll see why his story stands out.
This isn’t about a failed career—Lamas worked consistently for decades. He appeared in 227 episodes of Falcon Crest (every single one), starred in Renegade for five seasons, and kept booking roles well into the 2000s and 2010s. He earned Golden Globe nominations and became a household name.
So why is his net worth so modest? Three main reasons:
- Six marriages and no prenuptial agreements meant significant financial obligations during and after each divorce
- Two Chapter 7 bankruptcy filings (in 2004 and 2014) wiped out most of his accumulated wealth
- Extravagant spending habits during his peak earning years—including boats, planes, motorcycles, and luxury homes—left him with nothing saved for leaner times
Lamas himself has been open about his regrets. He’s admitted that he should’ve prepared better for the end of his career instead of spending money as fast as he earned it.
Rise to Fame—Falcon Crest and Career Peak
Lorenzo Lamas landed the role that would define his career in 1981. He was cast as Lance Cumson on the CBS primetime soap opera Falcon Crest. The show was a hit, running for nine seasons from 1981 to 1990.
Lamas appeared in all 227 episodes—the only cast member to pull off that feat. His character was complex: charming but troubled, romantic but sometimes ruthless. Audiences loved him, and critics took notice too. He earned a Golden Globe nomination for Best Supporting Actor.
During the Falcon Crest years, Lamas was at his financial peak. Primetime network TV in the ’80s paid well, especially for a lead actor on a popular show. He was making serious money—likely tens of thousands per episode by the later seasons.
Here’s what else happened during his peak years:
- He became a teen heartthrob and sex symbol
- Magazine covers, fan mail, and public appearances were constant
- He got movie offers and appeared in films like Body Rock (1984)
- He had the money to afford a lavish lifestyle—and he spent it
This was when Lamas bought his private plane, his Hummer, his Harley-Davidson motorcycles, and moved into gated homes. He was living the Hollywood dream without thinking about what comes after the cameras stop rolling.
Career Evolution After Falcon Crest
When Falcon Crest ended in 1990, Lamas didn’t disappear. He transitioned into action roles, which kept him working but changed his earning potential.
In 1992, he landed the lead in Renegade, a syndicated crime drama where he played Reno Raines—an ex-cop falsely accused of murder who becomes a bounty hunter. The show ran for five seasons (1992-1997) and found a solid audience, but syndicated TV doesn’t pay like network primetime.
Here’s how his career evolved post-Falcon Crest:
- Action films in the ’90s: He starred in the Snake Eater trilogy, Final Impact, Gladiator Cop, and other B-movies. These films had small budgets and paid accordingly.
- TV appearances in the 2000s: He played Hector Ramirez on The Bold and the Beautiful (2004-2006) and made guest appearances on shows like Big Time Rush and Phineas and Ferb.
- Reality TV: He appeared on Celebrity Apprentice in 2015 and starred in his own reality show Leave It to Lamas in 2009.
- Campy films: He embraced the B-movie life with roles in Mega Shark vs Giant Octopus and Sharknado 3.
The work was steady, but the paychecks kept shrinking. By the 2000s, Lamas wasn’t commanding the same salary he once did. The financial obligations from his marriages, however, stayed exactly the same—or got worse.
The 2004 Bankruptcy Filing—First Warning Signs
In 2004, Lorenzo Lamas filed for Chapter 7 bankruptcy for the first time. The filing revealed just how bad things had gotten.
Here’s what the documents showed:
- Monthly income: $10,922
- Monthly expenses: $21,826
- The gap: He was spending nearly $11,000 more per month than he earned
Where was the money going?
- Alimony payments: Over $6,000 per month
- Hummer loan: $48,000 owed
- Harley-Davidson loan: $20,000 owed
- Private plane loan: Nearly $200,000 owed
Think about that for a second. He was spending more than twice what he earned every single month. That’s not sustainable for anyone, no matter how famous.
The bankruptcy court discharged most of his debts, giving him a fresh start. But here’s the problem: Lamas didn’t change his spending habits or his approach to money. The same patterns that led to the first bankruptcy would eventually lead to a second one.
The 2014 Bankruptcy Filing—Financial Collapse
Ten years after his first bankruptcy, Lamas filed again in 2014. This time, the situation was even worse.
The 2014 filing showed:
- Total debt: $322,000
- Federal and state taxes owed: $285,000
- Unpaid spousal and child support: $19,000
- Total assets: Just $9,100 (including only $430 in his checking account)
- Personal income: $0—his household was surviving solely on his wife’s $2,400 monthly income
Let that sink in. One of the biggest TV stars of the ’80s and ’90s had $430 in his bank account and zero income.
The tax debt was particularly crushing. When you owe the IRS $285,000, you can’t just walk away from it. Even bankruptcy doesn’t eliminate tax debt in most cases.
By 2014, Lamas had also depleted a retirement account worth $215,000—money that could’ve provided security in his later years was gone.
Multiple Marriages and Their Financial Impact
Lorenzo Lamas net worth took its biggest hits from his six marriages and six children. He’s been married more times than most people can keep track of:
- Michele Smith (first wife, now deceased)
- Kathleen Kinmont (actress)
- Shauna Sand (model)
- Barbara Moore
- Shawna Craig
- Kenna Scott (married in 2023, divorce filed in July 2025)
Here’s the costly decision: Lamas never asked any of his wives to sign prenuptial agreements. Why? He felt it was “like professing failure at the outset.” That romantic notion cost him millions.
His ex-wife Shawna Craig explained the financial pressure in 2017: “He’s been married five times, including me. He’s got six kids he’s got to take care of and because of the divorces he’s got financial problems.”
Each divorce came with:
- Division of assets
- Alimony payments
- Child support for six children
- Legal fees
When you’re married six times, those costs add up fast. Even if each divorce settlement was relatively modest, the cumulative effect was devastating.
How Lorenzo Lamas Lost His Money
So what went wrong? Lamas has been surprisingly honest about his mistakes. He once said: “My regret is that I didn’t prepare better for the end of my career. I should have saved money instead of spending it so… extravagantly on boats, planes, and gated homes.”
Here are the key factors that destroyed Lorenzo Lamas net worth:
- No financial planning: He never saved for retirement or slower career years. Every dollar that came in went right back out.
- Luxury purchases: Private planes, expensive motorcycles, boats, and multiple homes drained his accounts.
- Living beyond his means: Even when his income dropped, his spending didn’t adjust. By 2004, he was spending twice his income every month.
- No prenuptial agreements: Six marriages without prenups meant significant wealth transfers during divorces.
- Tax problems: Failing to pay taxes on time created a $285,000 debt that compounded with penalties and interest.
- Career transition: Moving from network TV to syndicated shows to B-movies meant decreasing paychecks, but his lifestyle expectations never changed.
It’s a cautionary tale. Lamas earned millions during his career, but he treated it like the money would never stop coming. When the big paychecks ended, he had nothing to fall back on.
Current Situation and Income Sources
Today, Lorenzo Lamas has rebuilt a modest life. He’s not wealthy, but he’s no longer drowning in debt.
Current assets:
- A home in Las Vegas, Nevada, purchased in 2022 for $710,000 (now worth approximately $900,000)
- Work as a licensed helicopter pilot
Wait—helicopter pilot? Yes. Since the mid-2010s, Lamas has earned his commercial helicopter license and works flying tourists. He’s taken passengers from Los Angeles to the Grand Canyon and has worked for HeliNY in New York City.
It’s not the glamorous Hollywood life he once knew, but it’s honest work that pays the bills.
He still acts occasionally—small roles, reality TV appearances, conventions where fans pay for autographs and photos. These gigs don’t pay like Falcon Crest did, but they supplement his helicopter income.
In July 2025, Lamas filed for divorce from his sixth wife, Kenna Scott. Given his financial history, it’s unclear how this latest divorce will impact his modest net worth.
Conclusion
Lorenzo Lamas net worth tells a story that’s unfortunately common in Hollywood: early success, poor financial decisions, and a long fall from grace. He went from earning top-dollar on primetime TV to filing for bankruptcy twice and working as a helicopter pilot to make ends meet.
But here’s the thing—Lamas is still standing. He’s honest about his mistakes, he’s found new ways to earn income, and he owns a home in Las Vegas. That’s more than some people achieve after multiple bankruptcies.
His story offers clear lessons:
- Save money during peak earning years
- Don’t spend faster than you earn
- Consider prenuptial agreements (it’s not romantic, but it’s smart)
- Pay your taxes on time
- Plan for career transitions—fame and big paychecks don’t last forever
Want to learn more about celebrity finances, bankruptcy stories, and how Hollywood stars manage (or mismanage) their wealth? Check out our other celebrity net worth breakdowns and subscribe to stay updated on the real financial lives behind the fame.
