Bill Cosby, once a celebrated comedian with a fortune estimated at $400 million, is now grappling with severe financial challenges. According to sources close to Cosby and his wife Camille, the couple is experiencing "financial turmoil" as they face an avalanche of sexual assault lawsuits and tax liens.
Despite Cosby's release from prison in 2021, his financial woes have deepened, largely due to the numerous civil lawsuits brought against him by women alleging sexual assault. These ongoing legal battles have forced the Cosbys to liquidate assets, take out second mortgages, and sell off artwork to cope with mounting expenses.
The Cosby family is reportedly on a "fixed income," struggling to preserve their dwindling resources for their family and grandchildren. Cosby, now 86, has not worked since 2015, exacerbating their financial strain. The couple's attempts to cut back on expenses have even affected their household staff, who have reportedly not been paid for some time.
One source revealed that Camille Cosby, who has remained steadfastly by her husband's side, is resistant to lifestyle changes despite the financial crunch. She is reportedly adamant about keeping her chef and other staff members, even as they struggle to pay their wages. Cosby himself is said to be frustrated but unable to influence these decisions, as Camille continues to hold power of attorney over his estate-a status granted during his incarceration.
In 2021, Cosby faced a court order to pay $500K in damages to Judy Huth, who accused him of assaulting her when she was a minor. This year, Cosby faced a lawsuit in Nevada from nine women, including high-profile names like Janice Dickinson. These women accuse Cosby of using his fame and power to isolate and sexually assault them.
Cosby's representatives have remained silent on these financial difficulties. Despite the challenges, the Cosbys are determined to stay together, looking forward to celebrating their 60th wedding anniversary in January. However, the shadow of Cosby's legal troubles and the resulting financial crisis looms large over this once powerful entertainment figure.
