Lifestyle Food Paul Giamatti on His Classic Italian Christmas Tradition — and the Year His Family's Tree Caught on Fire (Exclusive) Giamatti has starred in two holiday movies: 'The Holdovers' and 2007's 'Fred Claus' By Sabienna Bowman Sabienna Bowman Sabienna Bowman is a Digital News Editor at PEOPLE, where she has been working since 2023. She previously worked at POPSUGAR, Bustle and Scarymommy. People Editorial Guidelines and Jack Smart Jack Smart Jack Smart is the Movies Staff Writer at PEOPLE. With 10 years of experience as an entertainment journalist, he previously worked at The A.V. Club and Backstage. People Editorial Guidelines Published on December 25, 2023 07:00AM EST Close Paul Giamatti. Photo: Araya Doheny/Getty For Paul Giamatti, Christmas just isn't Christmas without a good panettone. In a December interview with PEOPLE, The Holdovers actor, 56, shares that while he doesn't have many Christmas traditions, securing a loaf of the Italian sweet bread — a type of fruit cake most often found during the holiday season — is always a must. "Well, I'm Italian, so we had a panettone every year," Giamatti says. "That's the only thing I still do, which is an Italian breakfast cake you eat on Christmas." Giamatti, who is nominated for a 2024 Golden Globe for best actor in a comedy for his role in The Holdovers — a movie set in a 1970s-era boarding school over the Christmas season — is no stranger to holiday films. In 2007, he suited up as Santa Claus himself in the film Fred Claus, which he starred in alongside Vince Vaughn, who played Santa's slacker older brother, Fred. Paul Giamatti (center) as Santa Claus in Fred Claus. Warner Bros/Kobal/Shutterstock But despite having two festive films under his belt, the father of one — Samuel Paul Giamatti, 21 — says he had "a standard sort of Christmas growing up." Still, he did recall one year being memorable for all the wrong reasons. Billions Series Finale: How It Ended and Who Wound Up 'Really Rich. Wealthy Even' "One year the tree fell over and caught on fire," he shares. "I remember that. Everything was okay, but that was probably the worst one." If the tree catching fire is his worst Christmas memory, the Oscar nominee's best holiday memory is one involving an unforgettable present. Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories. "I remember — when I was probably about age 7 — getting a plastic castle set," Giamatti says. "That was probably the greatest thing I'd ever gotten that I remember."