Whitney Houston: From Riches to Rags... and Back (Almost)?
Diva by Day, Debtor by Night?
Whitney Houston, the legendary voice behind hits like "I Will Always Love You" and "I Wanna Dance With Somebody," was a powerhouse vocalist. But when it came to managing her millions, well, let's just say she wasn't exactly a financial Whitney.
Reports claim that at the peak of her career, Whitney's net worth was a dazzling $150 million. Enough to buy all the glitter bodysuits and microphones a girl could ever want, right? Wrong. Unfortunately, Whitney's bank account went the way of a bad perm – fizzled out.
So, what happened? Theories abound, from lavish spending habits to bad deals (remember that $100 million record contract that somehow resulted in her owing the label money?). Whatever the reason, by the time of her untimely passing in 2012, Whitney was reportedly in the red by a cool $20 million. Ouch.
But wait! There's a twist (cue the dramatic music)!
Here's where things get interesting. Remember those powerhouse vocals? Turns out, they're a gift that keeps on giving, even from beyond the grave. Since Whitney's passing, her music has enjoyed a resurgence. "I Will Always Love You" became a chart-topper all over again (thanks, bodyguard dance scene in "The Princess Bride"), and her estate started raking in the dough.
Enter the Estate Executors (cue the lawyers in expensive suits!)
Whitney's sister-in-law, Pat Houston, became the executor of the estate. And let's just say she's been busy! Pat struck a deal with a music company in 2019, giving them a stake in the Whitney Houston brand (think biopics, merchandise, the whole shebang). This deal valued the estate at around $14 million.
The Plot Thickens (or Thinens, Depending on How You Look at It)
Here's the kicker: The music company claims that, thanks to their genius and Whitney's enduring legacy, the value of the estate has quadrupled since that 2019 deal. So, we're talking somewhere in the ballpark of $56 million now. Not quite the $150 million of her heyday, but a far cry from the debt she left behind.
The Moral of the Story?
Don't spend it all before you lose it, but also, a killer voice can apparently pay the bills even after you're gone. Who knew? So next time you belt out a Whitney Houston classic in the shower, remember – you're not just giving yourself a concert, you're potentially contributing to her ever-growing afterlife fortune. You're welcome, Whitney's estate.
