Kelsey Grammer windmills
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| Kelsey Grammer |
The former 'Frasier' star expected his investment to be ''lucrative'' but the venture flopped, leaving him worse off financially.
Asked by TMZ for his worst ever investment, he said: ''Investing in windmills. You'd think it would be lucrative, but it's not really a friendly environment for new technology, it really isn't.
''Big wind is doing OK but small wind isn't and it cost me a lot of money - it's got six figures.''
Though Kelsey insists his finances are still ''OK'', he admits there is no chance of recouping his original investment.
He added: ''I'm OK, but I didn't make up for it, it's one of those things that's just a straight loss.''
And windmills isn't the only area where the 57-year-old star is losing money as he recently slashed the asking price for his Beverly Hills home.
Kelsey originally put the property, which he previously lived in with his ex-wife Camille Grammer, on the market for $18.9 million in 2008 but has reduced the price after it failed to attract a buyer.
The outspoken actor - who has children Mason, 11, and Jude, eight, with Camille, and Faith, eight months, with current spouse Kayte Walsh - had dropped the asking price several times already and the plush estate, which the former couple bought in 2007 for $13.7 million before extensively remodeling it, is now listed for $14.995 million.
