*Toni Braxton used to be popular because of her music, topping charts, selling lots of albums and raking in the big bucks.
But somehow, she ended up broke.
At the height of her career, she generated $170 million from album sales, but only took home $1,972.
Toni explained in an exclusive interview on 20/20 how the twisted fate of an artist may result in fame and debt.
“What happens is they will give you an advance million on the next record and the next record so you kind of stay in debt in a sense,” said Braxton about her record label.
By 1998, she filed for bankruptcy for the first time.
While she wasn’t even making enough to sustain herself and a mortgage, the singer developed an obsessive home décor habit.
“I love dishes and house things so I kind of lost it a little bit on the house ware. One-thousand thread-count sheets, that’s what I indulged in,” admits Braxton.
Then she filed for bankrubtcy a second time in 2010, and had to cancel her self-financed “Toni Braxton: Revealed” Las Vegas show due to a medical scare.
After being diagnosed with lupus, doctors recommended she chill out from performing and limit her time on stage to one or two songs.
Check out the full interview here.
While I understand what she’s saying . . .and it appears she did too, my only question is why?
Toni you cannot have a champagne appetite on a beer budget !! after the first bankruptcy she should of toned it down with over the top indulgences. 1000 thread count sheets?? Gucci flatware?? really??? I felt for Toni when she filed the first time but I do not have any sympathy now that she keeps spending money she does not have on such high end material items.
I’m beginning to think Toni is just not very smart. She says she only took home $1,972. That is not correct because an advance is payment. She just seems like someone who blows money.
I totally agree. She just wasn’t smart when it came to managing her money and having the RIGHT financial advisers to prevent this embarrassment!!! What’s really sad is, she probably hasn’t nor will change one bit and then she left out her ex-husband not bringing in any money and helping financially. Mint Condition made its share of money back in the day…