Whitney Houston’s Fortune: What Happened After Her Death?
Whitney Houston was one of the greatest singers that the world has ever known. She possessed a beautiful voice that was appreciated by millions of people worldwide. However, despite her immense talent, she faced several challenges throughout her life, and eventually, these challenges led to her untimely demise. On February 11, 2012, Whitney passed away, leaving behind a legacy that would be remembered forever. One of the most significant questions that arose after her death was – what happened to her fortune? In this article, we will try to answer this question and give you some insights into Whitney’s financial situation before and after her death.
Whitney Houston’s Net Worth Before Her Death
Whitney Houston was one of the most successful singers in history. She sold over 200 million records worldwide, making her one of the bestselling artists of all time. During her lifetime, Whitney’s net worth was estimated to be around $20 million. However, this figure is a bit misleading. Whitney was known to be a generous person, often giving away money to friends and family, and she was also known to have a lavish lifestyle.
Reports suggest that Whitney owned multiple properties around the world, including a mansion in New Jersey worth over $5 million. She also owned a beach house in Hawaii, which she bought for $2.7 million. In addition, she owned a penthouse in Atlanta, Georgia, which cost her around $4 million. Whitney also owned several expensive cars, including a Rolls-Royce, a BMW, and a Porsche, among others.
Whitney’s Financial Problems
Despite her immense success, Whitney faced several financial challenges throughout her life. In the late 1990s, she reportedly owed over $3 million to the Internal Revenue Service (IRS) in unpaid taxes. The IRS even placed a lien on her New Jersey mansion to recover the money owed.
Whitney’s financial troubles continued in the early 2000s, when she spent a significant amount of money on drugs and personal expenses. Reports suggest that Whitney spent around $100 million during her lifetime, much of which went towards her drug addiction. The cost of her addiction was so high that it reportedly forced her to sell several of her properties, including the New Jersey mansion and the penthouse in Atlanta.
Whitney’s Fortune After Her Death
After Whitney passed away, several reports suggested that she left behind a significant amount of debt. However, this was not entirely true. Whitney’s estate was valued at around $20 million after her death, which included the proceeds from her music catalog, royalties, and other assets.
Whitney’s will dictated that her entire estate would go to her only child, Bobbi Kristina Brown. However, Bobbi Kristina passed away three years later in 2015, leaving behind a complicated legal battle over Whitney’s fortune. After Bobbi Kristina’s death, Whitney’s estate was split between her mother, Cissy Houston, and her brothers, Gary and Michael Houston.
The financial situation of Whitney’s estate became even more complicated when it was revealed that Bobbi Kristina’s estate was also in debt. Reports suggest that Bobbi Kristina’s estate owed several million dollars in unpaid taxes, medical bills, and other expenses. This meant that there was little left for Whitney’s family to inherit after settling Bobbi Kristina’s debts.
Another issue that complicated the management of Whitney’s estate was the legal battle between her family and her ex-husband, Bobby Brown. Brown reportedly claimed that he was entitled to a share of Whitney’s fortune, citing their previous divorce settlement agreement. However, Whitney’s family disputed this claim, leading to a lengthy legal battle that was eventually settled out of court.
In conclusion, Whitney Houston was one of the greatest singers of all time and left behind a fortune valued at around $20 million after her death. However, her financial situation was not as straightforward as it seemed, as she faced several challenges during her lifetime, including financial troubles and drug addiction. The management of her estate after her passing was complicated by legal battles and the debts left behind by her daughter. Today, Whitney’s legacy lives on through her music, and she continues to be remembered as one of the greatest singers in history.