The thirteen-time Grammy Award Winning Lady Gaga Went Bankrupt after spending million on her 2011 Monster Ball tour.
Lady Gaga, whose real name is Stefani Joanne Angelina Germanotta, is a world-famous singer, actress, and songwriter. She is best known for her musical versatility and reinventions.
Her most famous songs include Blood Mary, Bad Romance, Shallow, Poker Face, Love Game, Just Dance, Applause, and Judas.
She has also appeared in several movies – American Horror Story: Hotel, House of Gucci, and A Star is Born, for which she won three Grammys.
The singer first made her breakthrough in the music industry in 2008 with her debut studio album, The Fame.
In 2011, the Poker Face singer sat down in an interview with the Financial Times and revealed that she went bankrupt after her Monster Ball tour from 2009 to 2011 and was $3 million in debt after spending millions on her outfits.
“I actually went bankrupt after the first extension of the Monster Ball,” she told Stephen Fry of FT Magazine.
She added that it was funny because she didn’t even know she was out of money and in debt when it happened.
“And it was funny because I didn’t know, and I remember I called everybody and I said, “well, why is everybody saying that I have no money?” she said.
“This is ridiculous! I had five number one singles, the Monster Ball’s doing great,” and they said, “you’re $3m in debt”.
According to FT, she managed to escape the debt and financial crisis because of her music’s sheer quality and popularity.
“So I got really lucky because I had a good show and Live Nation loved it so much and they said “we want to put you in arenas and we want to support you”, and then the fairytale of where we are now became the HBO special, and the whole world got to see the Monster Ball.”
Gaga added that she didn’t know about her bankruptcy because money was unimportant to her.
“It’s honestly true that money means nothing to me,” she said. “The only big things I’ve purchased are my dad’s heart valve and a Rolls-Royce for my parents for their anniversary.”
The superstar added that she is a big dreamer, and material things don’t mean much to her.
“The beauty for me about being an artist is that the dream will never die because I’m not obsessed with material things and don’t care about the money and don’t care about the attention of the public, but only the love of my fans, so for me it’s about how much more devoted, how much better an artist can I become.”
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Source: Financial Times