Debuting in 2008 with her hit song, ‘Just Dance’, Lady Gaga’s career has soared to tremendous heights in the last decade. Besides her vocal prowess and unabashed fashion choices, the superstar has also made waves in the film industry with her debut film, A Star is Born, which earned her several Golden Globes and Oscar nominations.
But while Gaga has established herself as an entertainment powerhouse with a formidable net worth of $300 million, she wasn’t always this fortunate when it came to her finances.
You’d never think that a woman who wears millions of dollars in diamonds to red carpet events could ever be broke, but the singer claims that she was once on the verge of bankruptcy. How did that happen, exactly? You’ll have to read till the end to find out.
A Monster Tour
In an interview with Financial Times in 2011, Lady Gaga made a revelation that she had gotten herself into grave financial trouble during The Monster Ball tour, which was one of the biggest ones in music history, having lasted for two whole years.
The pop star started the anticipated tour in 2009, traveling to several locations worldwide until a tragic misfortune forced her to shut it down completely.
In 2011, reports of the popstar’s potential bankruptcy started surfacing, and for the first time during the interview, Gaga confirmed the news, saying that the elaborate concert setups and massive production teams actually left her bank account completely drained.
The singer told the Financial Times that she took a huge risk with the tour, one that didn’t exactly pay off – at least not financially. While the show was a raving success, Gaga quickly found herself out of money after The Monster Ball’s first season.
But the singer found the humor in the situation because she didn’t even know that her bank statements were bleeding red until she started getting calls from concerned family members and advisors who were trying to warn her.
Gaga didn’t believe the news at first, saying that with 3 chart-topping singles at the time, there was no way that she was bankrupt. But the reality was that she was $3 million in debt.
But the singer took no time to bounce back from the bankruptcy scare, building her net worth up to $300 million within a few short years. They say when you have talent, money grows in your backyard, and Gaga has definitely proved it right.