Lady Gaga may have a lot of money right now, but she went bankrupt after her ‘Monster Ball’ tour, owing $3 million (£2.5 million).
It may appear to be a blip in her history, given that she has recovered and grown stronger than ever, but that is a significant sum of money to lose.
She may be having one of the most successful moments of her career right now, with a lot of Grammys, a Best Original Song Oscar, a Best Actress nod for A Star is Born, and a leading role in the upcoming film Joker: Folie à Deux to look forward to.
However, a few years ago, the situation was quite different.
The 38-year-old, whose true name is Stefani Joanne Angelina Germanotta, sprang to prominence in 2008 with her album The Fame, and her success has persisted for nearly two decades.
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Not only did she receive 13 Grammy Awards, seven tours, and a Super Bowl half-time spectacular, but her devoted fan base has acclaimed her as a legend, recognizing her incredible talents.
Recently, the singer and Bruno Mars collaborated on a groovy country beat, which some believe is some of her best work yet.
With plans to continue her music career with her acting employment while she prepares for Joker 2, life seemed to be going well.
That is certainly true in terms of finances.
But at one point, she almost went bankrupt completely.
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In an interview with the Financial Times, Gaga highlighted how her second tour actually cost her a fortune.
She informed me: “I actually went bankrupt after the first extension of The Monster Ball [between 2009 and 2011] and it was funny because I didn’t know!”
She continued, “I remember calling everyone and asking, ‘Why is everyone saying I don’t have any money? This is absurd; I have five number-one hits.’
“And they said, ‘Well, you’re $3 million in debt.'”
Yikes.
According to the FT story, she was able to earn her way out of debt thanks to the’sheer quality and popularity’ of her songs.
One of the advantages of being a huge pop superstar is going bankrupt due to a world tour.
If you’re good enough, you could definitely just go on another global tour or release a new album to make some money.
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Forbes estimated her net worth at $150 million (£120 million) in 2020, although her music career has never been about money.
She explained: “The beauty for me about being an artist is that the dream will never die, because I’m not obsessed with material things, money, or public attention, but only the love of my fans, so it’s about how much more devoted, how much better an artist I can become.
“It’s honestly true that money means nothing to me.”
However, there are some purchases she has had to make that have meant something to her, such as providing her audience with the best concert possible.
She stated, “The only significant things I’ve bought are my father’s heart valve and a Rolls-Royce for my parents’ anniversary.
“Other than that, I put everything in the show.”
We won’t ask her to rank those purchases in order of significance, then.
She recently had troubles during the Olympics when her microphone failed to pick up her tremendous vocals, but at this point, fans are simply lucky to have witnessed her in person.
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