While Britney Spears is undeniably pop royalty, her story is a tragic one. Regardless, this music icon will forever be regarded as one of the greatest artists throughout history. She came up as an ultra-popular teen icon, growing into a global pop sensation who has smashed hits and topped charts since the 1990s. Spears has rightfully earned a place in music history, and since she’s a legend, many would assume that she’s loaded with cash.
While she might have experienced financial success years ago, her fortune has dwindled over time. While she may have once had an impressive net worth, her notorious conservatorship, inactive music career, and problematic spending habits have all led to her current state of money-related hardships.
You can’t discuss the Britney Spears controversy without discussing the conservatorship that dominated her life for almost 14 years. For over a decade, her father, Jamie Spears, closely controlled the celebrity’s day-to-day lifestyle and finances. Many believe that he used manipulation tactics under the guise of protecting Britney’s mental health by keeping her under his thumb. Today, she’s finally free, but it has irreparable consequences that the former pop star is still suffering from.
Britney claims that the conservatorship depleted her account by a staggering $36 million, resulting in the loss of her hard-earned funds. Rather than being used for her own needs, the funds were partially funnelled into Jamie’s failed attempts to become a reality TV star and legal woes. Even when she thought she had reached freedom and independence, she was forced to pay more than $2 million for her father’s legal bills post-settlement.
Today, the conservatorship is done. Britney supposedly has control of everything again, and her finances have returned to a healthy $40 million net worth based on information from Celebrity Net Worth. This rebound is mostly due to her bestselling tell-all memoir dubbed “The Woman In Me,” which shares juicy details on not only the conservatorship but her entire life, including an abortion with ex-partner Justin Timberlake. And while $40 million sounds like a huge amount of money, Britney has some questionable saving habits that make her financial future increasingly unstable.
Is Britney Spears squandering all of her hard-earned cash?
When you’re given a second chance like Britney is, it would be common sense to start sensibly saving your money, right? Not necessarily. After being imprisoned by her father for many years, Britney has regained control over her finances and is enjoying herself for the first time in a long time. After all, if each of your purchases had to be court-approved for 14 years, wouldn’t you want to let loose?
However, inside sources report that Britney is spending excessively, while those in her support network are reluctant to confront her about it. They don’t want to come across as another Jamie Spears, offering advice and attempting to impose control over her when she clearly doesn’t desire it. An insider said to Page Six, “She has no concept of money.”
Although she has managers who help offer financial advice and guidance, she hasn’t expressed an interest in listening to anything practical. Another insider told InTouch Weekly that she spent a fortune on a recent birthday party in Mexico and called it “just the tip of the iceberg,” adding, “Her money managers have been begging her to slow down her spending. She totally ignores their warnings, though, and just accuses them of trying to control her like her father.”
Additionally, she’s also burned through much of the bonus she earned from her memoir. While her current net worth may be $40 million, it’s not growing anytime soon. That said, if Britney Spears chooses to turn things around and plan for the future, she still has serious earning potential if she wants to start creating music again. A source said, “She can perform live again, and songwriters continue to pitch music that, if Britney actually recorded it, could be hits.” The question is: Does Britney want to be wealthy and free? Or is her independence what matters most?
