In 2008 the 41-year-old actor cheated on his wife Rosetta with the 34-year-old blonde actress and they separated for two years but Balthazar says the scandal helped him to get his life back on track.
Speaking to the Evening Standard newspaper, he said the affair is ''ancient history'' and from ''another lifetime'' but his marriage to Rosetta, 46, is now ''stronger''.
He added: ''Without going down, you can't rise again.''
And Balthazar, who is from the illustrious Getty family, revealed getting older has helped him to come to terms with his background and put his wild days behind him.
He explained: ''I've gotten more comfortable with who I am, where I come from, and being 'a Getty'. I don't see it anymore as something I need to run from, or prove to people that I'm not who they might perceive me to be. I've been able to own that and feel good about it.
''It's no secret that my father and grandfather had major drug addiction problems, and addiction runs rampant in many families. If you add wealth and celebrity on top of that, it can be lethal.
''A lot of people do drugs and alcohol to self-medicate. For me it was about the search for higher consciousness.''
Although Balthazar worries about his children, Cassius,16, Grace, 14, Violet, 12, and June, eight, he says he knows they have to live their own lives.
He explained: ''I can't control my kids.
''They have their own journey and I'm doing my best to make them aware of the dangers, but also allow them to experience their own life.
''I do have a very full, very blessed life, full of great people who allow me to be very comfortable, and for that I am very grateful. So probably some of the clichés are true, but it doesn't define me.''
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