Whitney Houston has reportedly spent all of her fortune.
The 48-year-old singer – who has overcome crack cocaine addiction – has allegedly spent all of her fortune and is being financially supported by her record label Arista, which has given her an advance payment on her next album.
A source told RadarOnline.com: “Whitney’s fortune is gone. Music industry heavy hitters are supporting her and her label is fronting her cash against her next album, but no one knows when that will be released … She might be homeless if not for people saving her. She is broke as a joke.”
Houston is believed to be in such a dire financial position she has even had to resort to contacting friends for small loans.
The source added: “She called someone to ask for $100. It is so sad. She should have Mariah Carey money, and she’s flat broke.”
In August 2001, Houston signed the biggest record deal in music history at the time with Arista/BMG, renewing her contract with the label for $100 million to deliver six new albums.
She released her last LP ‘I Look to You’ in August 2009.
Courtesy of TVNZ
