- Hollywood actor Michael Sheen clears £1m debt for 900 people in Wales, the initiative used £100,000 of his own money through a debt acquisition company.
- The project faced delays due to financial regulations and confidentiality requirements.
- It highlights Sheen’s broader philanthropic efforts as a “not-for-profit” actor.
Hollywood actor Michael Sheen has taken a remarkable step to assist 900 vulnerable individuals in South Wales by clearing £1 million worth of debt. Using £100,000 of his own money, Sheen established a debt acquisition company to purchase devalued debt portfolios.
This initiative is the focus of an upcoming Channel 4 documentary titled Michael Sheen’s Secret Million Pound Giveaway, set to air on Monday. The project comes at a time of economic uncertainty in the region, following the closure of Port Talbot’s last blast furnace and subsequent job losses at Tata Steel.
Sheen explained that he initially had no knowledge of how the debt trading system worked but saw an opportunity to make a meaningful impact. By purchasing debt bundles at a reduced price, his company was able to clear £1 million worth of obligations for struggling residents.
Despite his successful acting career, Sheen emphasized that he did not have £100,000 “to throw around” and wanted the project to be as effective as possible.
Michael Sheen has written off $1.29 million of debt for 900 people using $129,000 of his own money #THRNews pic.twitter.com/iEy2wsHyaN
— The Hollywood Reporter (@THR) March 5, 2025
The effort faced significant challenges, including navigating confidentiality requirements and financial regulations, which delayed the process by two years.
Sheen operated at arm’s length from the company and remains unaware of the identities of those whose debts were cleared. A pivotal moment came when a cafe worker in Port Talbot shared stories of steelworkers in tears over their job losses, solidifying his resolve to continue despite earlier doubts.
This initiative aligns with Sheen’s ongoing philanthropic efforts. In 2021, he declared himself a “not-for-profit” actor, pledging his earnings to charitable causes. Previously, he sold personal property to ensure the 2019 Homeless World Cup took place in Cardiff and recently announced funding for a new national theatre company in Wales.
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Last Updated on March 6, 2025 by 247 News Around The World
