Kelsey Grammer Lost Big Bucks Investing In Windmills
Sometimes celebrities make poor choices when it comes to investing, and Kelsey Grammer admits he lost a small fortune after investing in a failed windmill technology project.
When the former "Frasier" star agreed to back a new energy plan he took a big hit financially.
He told TMZ.com: "It's not really a friendly environment for new technology, it really isn't; you have to have a way in. Big wind is doing OK, but it was a small wind investment, and it cost me a lot of money...
"I'm OK but I didn't make up for it. It's just one of those things that's just a straight loss."
Grammer won't reveal how much money he lost on the project, but he admits it was a least six figures. Ouch!
The actor recently starred in the Starz TV series "Boss."