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Britney Spears is a "poverty advocate" in Hollywood, according to Forbes magazine.  Where did her fortune go after that?

Britney Spears is a “poverty advocate” in Hollywood, according to Forbes magazine. Where did her fortune go after that?

Britney Spears, 39, wants to take back control of her professional and personal life, and especially her financial affairs, with the help of a lawyer. According to Forbes, the singer turned out to be a “poverty advocate” in Hollywood, with millions less on her account than her famous colleagues. But where does this wealth flow?

The Britney Spears case continues to stir the world. Especially now that the singer has put her hopes and future in the hands of Matthew Rosengart, according to TMZ, who is described as an ‘outstanding attorney’ when it comes to defending the stars. For example, Rosengart has plenty of experience to fall back on: Previously he represented big names like Steven Spielberg, Sean Penn, Ben, Casey Affleck and Eddie Vedder.

The news comes after Britney’s former lawyer, Sam Ingham, resigned last week. The lawyer withdrew after failing to terminate the guardianship. During a much-discussed hearing in late June, Spears asked a judge to end the receivership she had been under for 13 years. She also noted that she feels like a slave to her supervisors, especially her father, Jimmy. The judge denied this request, but allowed the financial institution to continue to oversee the money flows. But that company suddenly pulled out after a few days.

Barely fortune

In the meantime, Britney Spears’ fortune seems as much a mystery as the entire management. According to Forbes business magazine, today Britney’s fortune is $60 million (more than €50.6 million), although according to the magazine, this is very little. For example, in 2002, Spears chose one of the richest celebrities in the world, because she had already earned 40 million dollars (33.8 million euros). She managed to choose more than her then competitors Jessica Simpson and Jennifer Lopez. But although these two artists have amassed a fortune of more than $100 million (€84.4 million), this does not seem to matter at all to Britney. Global superstar Beyoncé is now worth seven times that of the singer, even though they started at the same time and both went down a similar path.

But where did the error occur? It all started in 2008, when Spears suffered a general nervous breakdown after several grueling years and was placed under guardianship. After that, the judge gave control of her career and finances to her father Jamie, but the arrangement he set up could never be good for his daughter’s career or wealth, according to Forbes magazine. Something that has been particularly expressed in recent years: large sums of money are constantly being withdrawn from the account and Britney is forced from contract to contract by her father Jamie.

According to Forbes, large amounts of money were constantly withdrawn from the account and Britney was forced from decade to decade by her father Jamie.Beeld Getty Images for BCU

Millions of dollars deals

So it couldn’t be because of Britney’s income. By 2008, Spears had already released five world hits and embarked on six major tours. In the years that followed, four more albums followed, four world tours and a regular show in Las Vegas, which according to organizer Caesars Entertainment alone managed to bring in more than 137.7 million dollars (116.3 million euros). In addition, she can also earn money in another way: she tied her name to dozens of brands for several million, ranging from Pepsi (6.8 million euros per contract) to Skechers and Samsung.

But where did all that money go? According to Forbes – who can see court documents – it appears Father Jimmy Spears is a Trojan horse. For example, she’s been paying him at least $16,000 (€13,513) a month in salaries since 2008. During all those years, it’s been down to more than $2.4 million (nearly €2.1 million), and then there’s all Contracts, clauses and additional expenses that the singer completes slowly but surely. For example, Jimmy hired a small army of lawyers and public relations specialists to respond to all requests from the media. Between October 2020 and February 2021 – when the #FreeBritney movement was ubiquitous – they paid the singer nearly $900,000 (750,000 euros) – while the singer himself had to make do with $2,000 (about 1,700 euros) a week, regardless. what she was earning. time.

“Everything costs money”

“Everything costs money,” says Camp Britney. And while the list might be too long to list, Forbes explains the ways Jamie Spears cheated on his daughter. In 2011, during her “Femme Fatale” tour, he demanded a commission of 2.95%: he raised more than 500 thousand dollars (422,287) euros. From 2013 to 2017, he held 1.5% of ticket and merchandise sales at the Piece of Me Show in Las Vegas: he took a share of $2.1 million (€1.8 million).

In the meantime, Britney made all the expenses pay: she spent more than 300 thousand dollars (253,342 euros) on renting an office for her father and today pays hundreds of thousands of euros at one time in legal fees. The documents also state that Britney is not allowed to put her own bank card in her pocket, and according to her hairdresser, she couldn’t even pay a dinner party bill at one point: “That bill was about $1300, and she said she was going to pay her half and she couldn’t afford it. She was At that time a member of the jury of the program “X-factor”, for which she received 15 million dollars (12.7 million euros).

Britney told the judge
“It’s been a long time since I’ve had my money, my wish and my dream for this to come to an end,” Britney told the judge.Instagram photo

In the past 13 years that Britney Spears has managed, all rates and fees have also been paid more. The total cost of her legal battle can’t be determined yet, but the various expenses are written on the wall. For example, in just one month, the singer paid $170,000 (€143,553) to the law firm Freeman Freeman & Smiley, LLP – which represented her father for a while – while her lawyer, Samuel Ingham, billed $331,940 (€280,235). ).

How does this end?

“My client told me that she fears her father. She will not act anymore if her father is responsible for her career,” the lawyer said during the hearing in question, which also made it appear that the singers’ expenses could exceed her future income.

Something that only Britney could agree with: “It doesn’t make sense that California is going back and seeing with its own eyes literally how I generate income for so many people and have to pay so many people, all the while being told myself and telling the judge emotionally ‘I’m not good enough.'” It’s been a long time since I owned my money myself, and it’s my wish and dream that this ends.”

Father Jamie only wanted to respond through his attorney: “He is sorry that his daughter is in so much pain. Mr. Spears loves his daughter and misses her very much.”

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