Lady Gaga admits she went bankrupt and was $3 million in debt after her Monster Ball tour
The singer-actress whose real name is Stefani Germanotta made waves in the music industry with her 2008 debut album and went bankrupt in 2011. She was able to get out of the slump thanks to the popularity of her work
Lady Gaga has it all. This year the singer-turned-actress won three Grammys, two for 'Shallow' and one for 'Joanne,' and besides that, the 32-year-old also won an Oscar for Best Original Song, and was nominated for Best Actress for her role in 'A Star Is Born,' at the Academy Awards. Her total awards tally is up to nine Grammys till now and yet one does find it hard to believe that the popular singer could have ever been in the red.
The singer herself had a hard time believing it.
The singer-actress whose real name is Stefani Germanotta, made waves in the music industry with her 2008 debut album 'The Fame.' Ever since, the New York native has sold more than 11 million albums.
However, the 'Mother Monster' as she was called, went bankrupt after 'The Monster Ball.'
"I actually went bankrupt after the first extension of The Monster Ball," she told the Financial Times, referring to her second worldwide concert tour, which ran from 2009 to 2011. “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 No. 1 singles.’ And they said, ‘Well, you’re $3 million in debt."
That did not deter Lady Gaga who was able to get out of the situation because of her immense popularity. According to Forbes, Gaga had already earned $50 million in July 2018.
Telling the publication that pursuing music has never been about the money, she said: "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."
In short, she added, "It’s honestly true that money means nothing to me."
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