No matter how much money someone has, there will always be one reason or another why it's not enough money. Plenty of Hollywood celebrities have gone broke and found that out the hard way over the years. Plenty of others have also been the subject of going broke rumors, which is what funnyman Pete Davidson is currently experiencing. Despite being the star of three different 2025 movie releases, a rumor is swirling that claims he's in need of getting his financial ducks in a row ahead of having his first child with actress and model Elise Hewitt.
This pecuniary issue hasn't been directly addressed by Davidson himself. CinemaBlend spoke to a source close to the actor who vehemently denied there are any financial issues, but that hasn't stopped the report from The U.S. Sun, which is making its way around the internet. The outlet claims he's currently dealing with an array of non-flourishing investments that supposedly have him as strapped as ever for extra funds. Here's the quote:
He's blown through a ton of money, and it isn't coming in like it used to. . . . He has a ton of homes at this point, and he never was able to sell the luxury Staten Island condo he first put on the market back in 2022.
Obviously, we don't have access to Pete Davidson's bank accounts, and there's no way for us to know his actual financial picture. The Sun gives some reasons why he might be in trouble, which have some validity too them, but there are also plenty of reasons to believe he's got a lot of money pouring in.
The home purchases may or may not have gone well. His infamous ferry boat purchase definitely didn't go well. But his career is booming. He's arguably one of the most in-demand comedians working In Hollywood, and his career shows no signs of slowing down. He's also in TV commercials and about to go on tour, both of which probably pay very well. Let's break this down.
Pete Davidson's Alleged Property Woes
The Staten Island native has often made a point of repping his stomping grounds in both his personal and professional lives, including various property purchases that some claim haven't gone well for him.
The condo, which the Sun referred to, was the one he first purchased after moving out of his mom's house in late 2020, and it's one he first attempted to sell for $1.3 million, around $100K more than the $1.2 million he bought it for. In 2023, he dropped the price in a new attempt to get the property sold, but also to no avail, and he eventually took it off the market again until early 2025.
Davidson is said to have lowered the price two additional times, going as low as a $1.07 million asking price, and still couldn't get any offers. It's currently no longer listed, but that will likely change at some point.
The stand-up comedian allegedly has three other properties as well, which could be keeping his finances tied up. One is the Staten Island home that he bought for his mom in 2017 (where he also lived). The insider claims Davidson has put a lot of money into renovating the house to make it as "perfect" as possible. At least that one has someone living in it and enjoying it.
Meanwhile, Davidson owns another home away from the city in upstate New York, where he reportedly spent a bit of his time post-rehab in 2023. It's claimed that he and Elsie Hewitt are splitting their time staying at that home and at the brownstone home that he's renting, which is located in Brooklyn.
The Staten Island Ferry And Other Financial Setbacks
On top of the various stationary properties he is currently shelling out money for, Davidson is also infamously the co-owner of a ferry boat that he and Colin Jost spent around $280,000 on in 2022. Despite ongoing plans to fully renovate the boat and rent it out to interested parties, the duo's efforts have stalled time and again, and not without costs still building up.
There are also rumors that he likes to flight private and reportedly spends plenty on other luxuries.
His Career Is Booming Though
It's only a spending problem if you can't afford it, and there is reason to believe Pete Davidson has a lot of money to spend. After leaving Saturday Night Live, which he was a star on for many years, he's basically done nothing but work.
So far this year, he's starred in a bunch of new releases including Dog Man, The Home and the recently released Pick-Up, which he co-stars in alongside Eddie Murphy. That last Amazon original had, by all accounts, huge streaming numbers. In addition, he also recently filmed How To Rob A Bank alongside Superman star Nicholas Hoult.
Throw in the commercials and all the various media appearances, plus his upcoming tour, and there's now way he's not bringing in many, many millions of dollars. There's a lot of people raising a baby on a whole lot less.
We also spoke with someone close to Davidson, who called any rumors of financial problems "completely false." The source went on to say that they weren't contacted about the original story and would have denied it had they been asked.
To Sum Up
Yes, there's a rumor going around about Pete Davidson having money problems. Yes, he has a baby on the way, and yes, there are reasons to believe not every financial decision he's ever made has been the wisest in history.
But that still doesn't mean this rumor is true. He's one of the most in-demand actors in Hollywood, and while some of his purchases have been extravagant, they don't really hold a candle to the craziness some other A-listers bought before they went broke.
This story has been updated to add quotes from the source close to Davidson we spoke to after publication.
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