(The Richest) - Britney Spears is one of the biggest pop stars of her generation, which has helped her amass a reported net worth of $60 million. Despite the success of her new memoir The Woman in Me, which earned her a seven-figure paycheck, Britney is reportedly experiencing increasing financial problems.
Speaking to National Enquirer, a source claims that Britney’s team warned her of her dwindling finances months ago, but the musician apparently didn’t heed the advice and has dug herself into a more precarious financial situation.
"Britney was warned a few months ago that she was running into the red, but she didn’t change anything and kept on blowing her cash and now it’s happened," the insider explained. "She’s got a mountain of debts and no money coming in.”
Britney reportedly earned a $12.5 million advance for her memoir, which release in October. It’s suspected she also gets a share in the profits, which could mean another big paycheck for Britney, considering how well the memoir has performed so far.
However, the source says Britney has already blown through the book advance. They claim most of Britney’s remaining fortune comes from projects she did prior to 2018, the year of her final tour before the pandemic.
The insider claims that Britney isn’t to fully blame for her financial troubles, as her money was tightly controlled by her team during her conservatorship, which was lifted in 2021.
Not only did Britney’ team (including her family members) mismanage her money, but the insider claims they never taught the pop star how to manage her own money, leading to her precarious situation nowadays.
"It's not all Britney’s fault given all the people who’ve leeched off her and continue to do so," the source went on.
"But the problem is she doesn’t know how things add up,” they continued. “She was never formally educated about money and how it works, and now she’s paying a terrible emotional and financial price!"
Britney has already confirmed her desire to write a second memoir – reports say she hopes to discuss her ongoing divorce from Sam Asghari, which is also taking a financial toll on the singer (for example, she’s paying for his $10,000 per month apartment currently).
With the success of The Woman in Me, it’s likely Britney could negotiate an even bigger paycheck for a second memoir, which could be the solution to Britney’s money problems.
By Alexandra Sakellariou
December 8, 2023
