The source also said that Hammer, who is living in the Caymans to be closer to his ex-wife Elizabeth Chalmers and their two children, previously managed an apartment complex.
Claims the actor is "totally broke" would come as a surprise given his multimillion-dollar Hollywood career – and the fact that his great-grandfather was oil tycoon Armand Hammer, with the family's fortune estimated in the hundreds of millions of dollars.
The Call Me By Your Name star suffered a spectacular fall from public grace last year when various women, including exes Courtney Vucekovich and Paige Lorenze, came forward with claims of emotional and sexual abuse. Screenshots of messages from women appearing to depict Hammer as having cannibalistic fetishes also emerged on social media.
One woman accused Hammer of rape, which led to an LAPD investigation that has since concluded with no charges pressed.
Hammer, who was married at the time of many of the alleged incidents, has strenuously denied all accusations, claiming any interactions with any women were consensual.
But the fallout for the actor was swift.
Hammer was sacked from his agency, WME, and fired from a number of projects including Jennifer Lopez's Shotgun Wedding, thriller Billion Dollar Spy, Broadway play The Minutes and Paramount Plus series The Offer.
He was however recently seen in the box office hit Death On The Nile, which was filmed before the scandal broke and made around $200 million worldwide at the box office.
In June 2021, it was reported the star had checked into a treatment centre for drug, alcohol and sex issues. He left the facility in December last year.