When thinking about celebrities who’d find themselves battling bankruptcy, would the name Lady Gaga ever cross your mind? Certainly not.
A few years back though, the multiple award winner was knee-deep in debt, so much so that her assets could not offset whatever she owed. Isn’t this, ladies and gentlemen, the very definition of going bankrupt?
Interestingly, it happened at a time when you’d think Gaga was making an insane amount of money. Remember The Monster Ball Tour? This was the singer’s second worldwide tour, and it brought with it a total of 200 shows and an estimated 2.5 million audience.
By the time The Monster Ball drew to a close in May 2011, it had grossed approximately $227.4 million, effectively making the venture an indisputable commercial success.
However, reports that the huge undertaking had left a huge dent in Gaga’s bank accounts started circulating soon after.
In a Financial Times interview later in the year, an inquisitive reporter asked the singer if there was any truth to the rumors going around, to which she replied in the affirmative.
She admitted that she had poured everything into the tour, and the fact that fans demanded an extension made it even worse.
Funny enough, Lady Gaga was none the wiser. Her team had kept her in the dark all this while, and it was when she heard the rumors herself that she confronted them.
She was soon to be in shock as they revealed that she was in debt, owing up to $3 million. What she couldn’t understand is how that could happen, given the money she was making every single day.
Out of It
While we may still not have the nitty-gritties of exactly how Gaga ended up being in debt, what we do know is that she got out of it almost immediately. After all, doesn’t being a pop icon come with its set of perks?
Thanks to a Live Nation deal, Gaga put on a number of extended shows and got paid handsomely for it. HBO were also very much interested in her tour, filming a documentary while the popstar was performing in the Big Apple.
With just these two ventures, Stefani Germanotta (Lady Gaga) was able to clear her $3 million debt. Wouldn’t you wish to be her!
But all the same, the 33-year-old says that she didn’t get into the entertainment industry for the money. She has actually admitted more than once that she doesn’t care about it in the slightest.
What she holds in high regard will always be her fandom, and she spends every waking minute thinking of how devoted to them she can be. In her mind, it is always becoming the best artist that she could ever be.
Unsurprisingly though, Gaga may not care much for her net worth, but she has quite the impressive one.
As of February 2016, the singer was worth an estimated $275 million. In 2019, Celebrity Net Worth puts this figure at $320 million.
Bankruptcy is now ancient history, and if she plays her cards right, this part of her history may never repeat itself. She is older and wiser now, isn’t she?