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Britney Spears, who was placed under the conservatorship of her father until 2021, has allegedly been spending her money irrationally lately and could be in "serious danger" on both the mental and financial front, according to TMZ.
Having regained her financial freedom, the Toxic singer married actor Sam Asghari, 30, - whom she had been dating since 2016 - in June 2022. The marriage, being her third, didn't last long, with the couple parting ways 13 months later.
The Sun also reported that the marriage ended amid allegations of the hitmaker attacking Asghari while he slept, leaving him with bite marks and a black eye. A source in the media outlet shared that Britney Spears had no one to look after her, further saying:
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"Her [Britney Spears] life is in freefall. She has no focus and no one is telling her that she's at the risk of flittering away all of the earnings that she worked so hard for."
According to Celebrity Net Worth, Spears' current net worth is estimated to be $70 million.
Britney Spears paid over £4 million to cover the legal costs of her Conservatorship settlement
Britney Spears was first put under conservatorship with her father, Jamie Spears, in February 2008, which was terminated 13 years later in 2021.
According to the Sun, the Slumber Party singer was "forced" to perform lucrative Las Vegas residencies and tours. She also released four studio albums, became the X Factor judge - where she was paid $15 million for a season, and launched a billion-dollar perfume collection under Jamie's conservatorship.
According to Forbes, Spears made $458 million from her tours alone. She also lives in a $7.5 million home in Thousand Oaks, which she bought back in 2015.
In 2022, Spears made roughly $12.5 million as an advance for her memoir - The Woman in Me - and earned 25% of the net profit from the sales. According to The New York Times, the singer's memoir sold over a million copies in its first week in the US alone.
The source of The Sun revealed how tightly Spears' finances were watched when under conservatorship, so much so that she "had to ask her backing dancers to pay for dinner" at times. The source further said:
"Now it's like she's gone from one extreme to the other. She's living like there's no tomorrow. It's worrying to think what could happen in just a few short years if she blows through her fortune."
While the legal termination of Spears' conservatorship took place in 2021, the wrangles over its intricacies ended only last week. It was concluded that the singer would pay £3.2 million to her lawyer, Matthew Rosengard, and £1.6 million to cover her father's legal costs.
TMZ also revealed that Spears has been spending millions on her frequent trips to French Polynesia, where the singer indulges in private jets, luxury hotels, and staff. Besides, her monthly trips to Hawaii, where she stays in the presidential suite of the Four Seasons, also cost her $350k.
According to Women's Health Magazine, 25% of Spears' income goes into managing her team (agents, lawyers, and managers), with at least 40% going into taxes. The singer also pays $500,000 to her ex-husband, Kevin Federline - annually as child support for her sons.
All these expenditures, combined with her recent string of expensive holidays, have certainly put a dent in the singer's fortune that she's worked hard for throughout her career.
Britney Spears' years in conservatorship did irreparable damage
While Britney Spears' spending habits since she regained her financial freedom appear problematic, it was her treatment while under conservatorship when the real damage happened, The Sun reported.
In 2019, the Stronger singer announced an indefinite hiatus from music after canceling her Las Vegas Residency - Britney: Undominated - soon after which Spears was sent off to a live-in rehabilitation center. At this point, the Breathe on Me singer was also given a number of prescription medications, one of which was Lithium to treat her Bipolar Disorder.
Speaking about the medications in court in 2021, Britney Spears said:
"Lithium is a very, very strong and completely different medication compared to what I was used to. You can go mentally impaired if you take too much, if you stay on it longer than five months."
She also stated in court how her father put her on Lithium, and she "felt drunk." Following her statement, Jamie's lawyers made it clear in court that her health information had been kept private in an attempt to protect her. The documents filed in court stated:
"There is no doubt that the conservatorship saved Ms Spears from disaster, supported her when she needed it the most, protected her and her reputation from harm, and facilitated the restoration of her career."
Being on her own, Britney Spears appears erratic and vulnerable, with the growing mistrust for the system. Spears hasn't talked to her sons - Sean, 18, and Jayden, 17 - in the last two years; neither of them attended her wedding with Asghari in 2022.
Spears hasn't even released any independent music in the last eight years, aside from her one-time collaborations with Will.i.am and Sir Elton John.
