The Born This Way singer wasn't born money savvy and seems to have no control over her finances
From MC Hammer to Mike Tyson to Michael Jackson, celebrities have made headlines with their outlandish spending habits and then with their monetary woes. It’s usually the same story over and over again and now it seems to be Lady Gaga’s turn.
According to Forbes, the singer--who they ranked as their latest "Power Woman" and who usurped Beyoncé as the highest paid entertainer in the music industry--is having problems with her purse. Just last month, the Financial Times exposed Mama Monster’s bankruptcy problems, which supposedly stems from her 2009 "Monster Ball" tour. Gaga going into debt is ironic, considering she reportedly makes $90 million a year and the tour happens to be one of the most successful circuits ever. Even crazier, she tells the magazine, “I put everything in the show, and I actually went bankrupt after the first extension of The Monster Ball. And it was funny because I didn’t know!” Turns out the mega-star was $3 million in debt!
Unfortunately, the 25-year-old may not have learned her lesson as Forbes now reports she is being sued for trying to do good for Japan after the country’s devastating March 11 tsunami. According to the money mag, Gaga sold $5 red and white “Pray for Japan” wristbands on her website, including performing at charitable concerts, with all proceeds (over $3 million) promoted as going directly to those in need. The problem is someone feels the shipping charges were exuberant and claim everything didn't make it to the peninsula.
A rep tells Forbes, “Sales tax charges were made in accordance with local legal requirements. Lady Gaga has personally pledged her own funds to this cause and continues to support the victims of the disaster.” Maybe the pop star needs to hire a new financial team before she’s unable to help even herself.