Lady Gaga: How I Went Bankrupt

May 31, 2011 By:
Lady Gaga: How I Went Bankrupt

Earlier this month Forbes magazine named Lady Gaga the most powerful celebrity in the world claiming she’s made over $90 million dollars in the last year.

She beat out Oprah in terms of power and has an estimated net worth of over $125 million. So why is she pretending to be broke?

Gaga claims she “went bankrupt” during her ‘Monster Ball’ tour—the same one that grossed over $90 million—because of production costs.

The elaborate stage costumes and backup dancers cost so much, she claims she spent more than she made. It’s a little hard to spend $90 mil, but sure Gaga, whatever you say.

She told the Financial Times newspaper: "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! And I remember I called everybody and said, 'Why is everyone saying I have no money? This is ridiculous, I have five number one singles' - and they said, 'Well, you're $3 million in debt.' "

And of course in true Gaga style, she hasn’t curbed her spending one bit. And if anyone is getting spoiled, it’s her parents.

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. And that was only because my dad had a Lady Gaga license plate on our old car and it was making me crazy because he was getting followed everywhere, so I bought him a new car."

Must be nice to be a Stefani!