Celebrities Who Are Not As Rich As You Thought

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Toni Braxton

Source: https://www.billboard.com

Singer, songwriter, record producer, actress, and TV show producer, Toni Braxton seemed to have it all. But despite her awesome voice and successes, she overestimated her fame, and financial capabilities by overspending. This led to 2 bankruptcies in 5 years, hopefully a third won’t be coming any time in the future. One thing though, her dire situation allowed her to avoid paying Sony Music over $13 million in debt. But she was reportedly in debt for around $50 million, though she remains to be a popular act, especially overseas. Currently she makes about $750,000 to $1 million per year from live shows and personal appearances, as well as income from her reality show – Braxton Family Values. Eventually, a bankruptcy court wiped out most of her debt. Her current net worth is $10 million, a far cry from having close to $400 million at her peak. Hopefully she can keep her finances clean this time around.