Two years since regaining control over her life, Britney Spears, the erstwhile pop sensation, reportedly faces a grim financial reality. Once boasting a $60 million fortune, Spears is now grappling with a severe cash crunch, according to insiders.
After years under a conservatorship, Britney's newfound financial freedom led to an array of expenses that have significantly eroded her vast fortune. Insiders attribute the financial drain to a combination of familial exploitation and Spears' unrestrained spending habits.
Sources close to Spears reveal that her family, including her parents Jamie and Lynne, and ex-husband Kevin Federline, have been a continuous financial burden. "Britney's parents used her as their cash cow for years," an insider revealed, pointing out that Jamie Spears, as her conservator, drew a substantial salary and bonuses from her earnings. Her mother, Lynne, and brother, Bryan, also reportedly benefited financially from Britney's success.
Britney's sister, Jamie Lynn, did not directly draw from Britney's earnings but has been accused of capitalizing on the singer's struggles through a tell-all book.
Legal Battles and Personal Expenses
Legal fees have been a significant drain on Britney's wealth, particularly with the ongoing custody battle with Federline for their sons, Sean Preston and Jayden James. Federline's recent move to Hawaii has reportedly led him to seek an increase in child support payments.
Britney's split from Sam Asghari, whom she married after the end of her conservatorship, adds to her financial woes. Despite a prenuptial agreement, Asghari is allegedly seeking a substantial settlement, accustomed as he is to a lavish lifestyle funded by Spears.
Post-conservatorship, Britney's spending habits have raised eyebrows. Sources cite high living expenses, including staff salaries, utility bills, pet care, and impromptu private jet trips to luxury resorts as key factors in her dwindling fortune. "She was kept on a tight leash for so long during her conservatorship that she's going crazy with wild spending sprees," a source explained.
Debts and Diminishing Income
Despite receiving a $12 million advance for her memoir 'The Woman in Me,' insiders claim that Spears has already spent this sum. The expected profits from the book are unlikely to offset her mounting debts.
Britney Spears' financial crisis is not solely her own making. "It's not all Britney's fault given all the people who've leeched off her and continue to do so," an insider notes. However, a lack of financial education has played a significant role in her predicament. "She was never formally educated about money and how it works, and now she's paying a terrible emotional and financial price!" the source adds.
As Britney Spears confronts this challenging phase, the saga of her financial unraveling serves as a stark reminder of the complexities and pitfalls of sudden wealth, especially for those in the relentless spotlight of fame.
The National Enquirer spoke to the insider.
