Wednesday, May 20, 2009

Britney Spears counts cost of lavish lifestyle

Britney Spears has spent a staggering $10 million since last February.

The 'Womanizer' singer, who has a reported $100 million fortune, earned $12 million last year but the majority of her money was used on staff, legal fees, her lavish lifestyle and caring for her two young sons.

Her finances were revealed in papers filed by lawyers for her father Jamie, who is legally in control of her estate.

One of her main expenses was the $625,000 she paid in her ongoing custody battle with ex-husband Kevin Federline - father of Sean Preston, three, and two-year-old Jayden James.

She also spent $447,633 on security, $138,369 in credit card payments, $105,000 renting a Malibu home, $178,818 for childcare, $188,556 on assistants and employees, $285,594 on mortgage payments, $137,554 on living expenses, and $1.06 million in "miscellaneous business expenses".

In March, it was revealed Britney had spent $2.7 million in lawyers' fees in less than a year.

Lawyer Geraldine Wyle - who represents Britney's father Jamie - said: "Since the initiation of the conservatorship, as a result of the concerted efforts of Mr. Spears as well as the professionals involved, all aspects of Ms. Spears' life have been stabilised and continue to improve."

According to Wyle, Britney - who was twice held in a psychiatric ward before her father was put in control - faces "complex and challenging issues" which have run up huge costs.

However, she admitted the mother-of-two's mental health had improved over the last year and has won "substantial visitation" with her sons and her career "has been revitalised".

Britney is currently on a sold-out world tour and has been honoured with a plaque to commemorate the huge success of her latest album 'Circus'.


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