Michael Sheen secretly paid off £1 million worth of debt in his local community after working on a project with Channel 4 – and the stunt draws attention to the high credit rates in the country
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Michael Sheen’s Secret Million Pound Giveaway: Official trailer
Legendary Welsh actor Michael Sheen has written off £1m of people’s debts in South Wales in order to draw attention to the inequalities in the debt market.
The star pulled off the huge stunt to help 900 residents in the life changing gesture of solidarity, as he used £100,000 of his own money to to buy £1m of debt owed by people in South Wales and then wrote the debts off overnight.
The 56-year-old has a successful TV and film career both in Britain and abroad, leading him to be one of the most respected actors of his generation.
It comes as the actors documentary airs on Channel 4 tonight – Michael Sheen’s Secret One Million Pound Giveaway – in an audacious campaign to demand better borrowing – and he put his money where his heart is.
Taking on payday lenders, loan sharks and the ‘rigged’ banking industry, Michael is campaigning to change the high costs of credit, all while using his own money to pay off debts for people in his local community.
According to Celebrity Net Worth, Michael’s net worth is estimated to be around $16 million. This is largely due to his acting career on stage, TV and film with his biggest roles being in the Twilight films, The Queen, Staged, Good Omens and Masters of Sex.
In December 2021, Michael shared he was a ‘not-for-profit’ actor after putting his homes up for sale to help the homeless.
The show begins with the actor entering a Post Office and said: “I’d like to make a withdrawal please. One hundred thousand pounds. And a book of stamps.”
While he knows this is just a drop in the ocean when it comes to the debts in the UK, he told the Big Issue: “It was a big hit, when it came to it. And 900 people having some debts written off is a big deal for them – and certainly was a big deal for me. But it is a drop in the ocean. We want to put the focus on change that could help millions. I was working towards positive change for as many as possible.”
But this isn’t the first time the actor has dug into his pockets to help others. In 2019, the generous star sold two of his mansions in LA and the UK to make sure the Homeless World Cup in Cardiff went ahead after a funding issue. He’s also used cash from shows he’s starred in, including A Very Royal Scandal (in which he played Prince Andrew) and Good Omens – in this way.
“I’ve put my own money into all sorts of things. I’m currently funding the Welsh National Theatre as well. I have found that it carries a lot more weight, you get more done, and a lot more cooperation and collaboration if it is clear you have real skin in the game.”
However he said putting money into the Homeless World Cup “wiped” him out, leaving him with nothing and getting himself into debt. But he said his career is “doing well” and he knows he won’t be able to have this “window” of generosity forever, but while he does, he will carry on with helping others.
By October 2024, more than 2.2 million low-income families had high-cost loans. In 2018 Michael launched the End High Cost Credit Alliance – initially taking on Wonga and BrightHouse – but he knows that vanquishing “the bad guys” is great for getting headlines, yet only opens up another underground, unregulated market for loan sharks to fill.
The documentary shows the actor’s surprise when he discovers that the use of loan sharks is on the rise again, calling it “extraordinary” that people are “heading back into that stuff”. For now, he is continuing to use his earnings from acting to fight it – and said putting as much money as he can into the things that matter most to him.
“It just so happens that going on holiday doesn’t matter to me as much as paying off 900 people’s debts. That can change. I reserve the right to also use my money to buy stuff for my kids. Or for me, if I need a new coat,” he explained.
Michael Sheen’s Secret One Million Pound Giveaway is on Channel 4 on 10 March at 9pm.
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