Stefani Germanotta, more famously known as Lady Gaga, has been entertaining the masses since 2005, and currently sits at the height of fame with a net worth of $320 million. Of course, a fortune of that magnitude means she enjoys living a life of luxury, but that wasn't always true for the star. Even after she rose to number one on the charts, Lady Gaga struggled with her finances, and went bankrupt... without even knowing it!Finances have not always been in order for this legendary artist, but somehow, she managed to turn her average life into one that reflects massive fame and fortune. After suffering through her bankruptcy, she was able to once again generate a massive amount of money. and find her way back to the top.
According to Business Insider, Lady Gaga's financial journey has been up and down, but it seems that she is now focused on continuing down a path of success, and isn't showing any signs of slowing down.
Rising Up
Lady Gaga's rise to fame has been credited to her fixation on entertaining her fans, and maintaining the integrity of her art. Truly passionate about music, her focus hasn't been monetary as much as it has been about the experience. CNBC quoted her as saying; “The beauty for me about being an artist is that the dream will never die, because I’m not obsessed with material things and don’t care about the money and don’t care about the attention of the public, but only the love of my fans, so for me it’s about how much more devoted, how much better an artist can I become.”
Quickly amassing a fortune and smashing records along the way, Lady Gaga embarked on the Monster Ball Tour and saw incredible commercial success. With demand for tickets soaring, multiple date were added, but it was during the height of the success of this tour that Lady Gaga was forced to come to terms with the unthinkable.
Bankruptcy Troubles
As she was riding the waves of success during the height of the Monster Ball tour, it was revealed that in spite of her earnings, Lady Gaga was actually bankrupt, and perhaps the most shocked person to discover this news was Lady Gaga herself.
Lady Gaga was completely unaware that her costume spending spree for the tour was getting out of control. “I remember I called everybody and said, ‘Why is everyone saying I have no money? This is ridiculous, I have five No. 1 singles,'” Gaga told Capital FM.
Reportedly spending more than $2 million on costumes alone, Gaga's expenses were far too high to be sustainable, and the starlet was forced to face her bankruptcy issues as they unfolded in front of the world.
The Climb Back To Fame And Fortune
Bankruptcy would be the end of the road for many of us, but Lady Gaga was able to rebound quickly, and regain control of her financial freedom. Thanks largely due to her wildly successful tour and her ability to diversify the value of her fame in a variety of different streams, it didn't take long before Lady Gaga was able to get back on top of her finances again.
Lady Gaga told Forbes that she credits her ability to get back into the red to “the sheer quality and popularity” of her work. Her tours are her biggest money-makers, and while she may have discovered her financial issues when the Monster Ball Tour was in mid-swing, that very tour itself ended up generating $227 million and was later followed up with the wild success of the Chromatica tour in 2020.
Lady Gaga’s net worth also saw a huge boost as a result of her marketing for cosmetics brands such as MAC, and she even went on to launch her very own brand of makeup. She also pursued an acting career with her role in A Star Is Born in 2018, which added a whopping $50 million to her net worth.
Finding The Balance
As quickly as she was forced to face the reality of her bankruptcy, Lady Gaga was able to dig her way out, and reclaimed her wealth status with a whopping $320 million under her belt. She's acutely more aware of her finances now, but after having amassed a fortune of this magnitude, she's now able to dive in to any number of luxurious spending sprees she desires.
She currently owns a $23 million Malibu mansion that boasts an enormous wine cellar, a stunning view of the Pacific Ocean, and a private bowling alley. Without hesitation, Lady Gaga imported $60,000 worth of Koi fish from Japan, just to add it to her outdoor landscaping. She also purchased a $5.25 million mansion that was previously owned by Frank Zappa.
Lady Gaga isn't just selfish with her money, either. In fact, she contributes a significant portion of her earnings to her father, and even opened a restaurant with her dad in New York.
Even after her whirlwind journey through the highs and lows of her financial life, Lady Gaga maintains that the focus has never been on wealth.
In spite of the enormous fortune she has been able to acquire, she tells Forbes that: “it’s honestly true that money means nothing to me.”
Sources: Business Insider, Forbes, Capital FM, CNBC, Stylecaster