Category: Celebrity News Author : Chris Greenhough Posted: January 25, 2012
Tags : whitney houston, whitney houston broke, whitney houston fortune
Whitney Houston has reportedly burned through her entire fortune, including the $100 million she received from a record deal in 2001.
Renowned industry gossip A. Source told Radar Online that the singer has spent every last cent she has, and has recently resorted to asking for small loans from friends.
The shadowy insider also claimed the 48-year-old is being financially supported by her new record label, after Arista disbanded last year. RCA Records has supposedly made advance payments for her next album. Radar Online’s source states that homelessness could even be an issue for the star, such are her money woes:
“Whitney’s fortune is gone. Music industry heavy hitters are supporting her and her label is fronting her cash against her next album, but no one knows when that will be released. [...] She might be homeless if not for people saving her. She is broke as a joke.”
Houston signed a colossal $100m record deal back in 2001 with Arista/BMG. The sum was an advance for her next six albums, five of which were released with the Arista brand.
Where has that $100 million gone in the last decade? Some suggest Houston’s crack cocaine addiction (which she has now overcome) sucked up a huge portion of her windfall. And, as the diva writes very few of her songs, she misses out on potentially lucrative royalties. In what could be interpreted as an early sign of her cash flow problems, Houston put her $2.5m mansion on the market in late-2009, a year after selling another property for $1.2 million.
However, a spokesperson for Houston has said the claims about the singer’s fortune are baseless. Stay tuned.
![Who says open source can’t do awesome animation [Video]](http://www.inquisitr.com/wp-content/2010/10/sintel-100x100.png)
![What a cruel, cruel son, but damn it’s funny [Video]](http://www.inquisitr.com/wp-content/2011/07/mom-100x100.png)
![[Win] Forever alone, Easter edition](http://www.inquisitr.com/wp-content/2011/04/forever-alone-easter-eggs-100x100.jpg)
Jan 25, 2012
I hope this is all fabricated and untrue..sad to think she possibly lost it all… ;-(
Jan 25, 2012
One of the most hateful people in the entertainment industry. She can't stand her fans but loves to take their money from her records sales.. She alone has put herself in the position she is in.. You can't step on people all the time and then expect them to bail you out but so many times before they start stepping back! I don't feel sorry or pity her one ounce and never will. She made her own bed, now let her sleep in it!
Jan 25, 2012
Cocaine is a hell of a drug!
Jan 25, 2012
When she sneezes..it costs her $200….so much coke up her nose.
Jan 26, 2012
WHO CARES! Her biggest mistake was getting hooked up with chris brown and that is what ruin her career…sad but true..what a waste..
Jan 27, 2012
His name was Bobby Brown, the loser moron of the universe.
Jan 27, 2012
Who are these "spokesman" for these celebrities? They seem to purport that they know the truth against the rumors.
Whitney has become a train wreck. She has crashed and will fall off the tracks. She was catered to by the recording o industry, however, most specifically Arista/BMG. To think that a recording artist will continue to record record after record when the artist is being overwhelmed with a cash flow by the record company is so misguided. Whitney was the proverbial "accident waiting to happen."
Jan 27, 2012
Between her and Bobby Brown, they smoked it all up. Her dealer however was "Cracking up" about how much she gave him. LOL. Her biggest problem is the personality changes from the years of drug abuse. It has effected her earning ability.
Feb 13, 2012
"I will always Love you"! If anyone reading this doubts the power of addiction and how difficult the transformation can be, this is a tragic example of what self destructive behavior does to the human spirit of greatness. As one of the most talented female recording artists of our day, gifted with a voice and blessed with so much, all of us should stop for a minute and realize just how fragile life can be. My prayers to her family and loved ones. God created it, Clive Davis discovered it, and the Devil took it away. May the Lord God have mercy on her soul.