What is the net worth of Britney Spears? Since her estate was placed under conservatorship in 2008, that is a subject that has been posed repeatedly. More and more fans are asking about the pop star’s net worth and the amount of money that is once again in her control now that her conservatorship is officially over.
When Britney, then 16 years old, released her debut single, “…Baby One More Time,” in 1998, she instantly became a household figure in the music industry.
Soon after the song reached number one on the Billboard charts, Britney has dubbed the new Princess of Pop. Britney continued to find success with songs like “Toxic” and “Oops!… I Did It Again” in the ten years after her debut.
She was a Grammy winner at the time and one of the most well-known pop performers in the world. Everything then abruptly altered in 2007. Britney entered a drug rehab facility six months after she had officially divorced her former husband Kevin Federline (with whom she shares two sons, Sean and Jayden).
She was seen the following day shaving her head with electric clippers and checking herself into several different treatment centres.
When the police showed up at Britney’s house in January 2008, they asserted that she had been under the influence of an unknown chemical. Britney was taken to the hospital.
Federline was granted sole custody of her kids, and she was subsequently checked into a mental hospital under a 5150 involuntary psychiatric detention. At that point, a California court ordered that she be placed under conservatorship, giving her father, Jamie Spears, and her lawyer complete control over her assets.
Many questions about Britney Spears’ net worth still exist, even though she later made a return with songs like “Hold It Against Me” and “3.” We respond to those queries upfront.
The conservatorship over Britney Spears is what?
To safeguard Britney Spears’ estate and her children’s financial future, a conservatorship was established in February 2008.
At the time, Britney’s co-conservators were her father Jamie Spears and her lawyer Andrew Wallet.
Wallet stepped down from his role as Britney’s co-conservator in March 2019, leaving Jamie as the only conservator of Britney’s estate. When a person, such as one with dementia or a mental handicap, is unable to make choices for themselves, a conservatorship, also known as legal guardianship, is granted.
Jamie had complete power over Britney’s personal and financial decisions as her conservator. Aside from giving him access to her medical information, the conservatorship allowed him to handle her finances, negotiate opportunities, and impose visiting restrictions on her behalf. (Wallet had previously been in charge of Britney’s finances until he quit.)
In court papers over the years, Britney’s financial actions have been amply recorded. Britney reportedly spent $400,000 on living expenditures in 2018, including $70,000 for flights and $66,000 for household supplies, according to records obtained by Entertainment Tonight in 2019. Britney’s legal and conservatorship expenditures, which totalled $1.1 million, were her biggest outlay for the year.
As Britney’s conservator in 2018, Jamie collected $128,000. When The New York Times documentary, Framing Britney Spears, was made available on Hulu in February 2021, interest in Britney’s conservatorship was rekindled.
Following an alleged physical fight between Jamie and Sean Preston, Britney and Kevin Federline’s eldest son, in September 2019, Jamie temporarily renounced his position as Britney’s conservator when her ex-husband, Kevin Federline, secured a restraining order against him. Britney’s temporary conservator was designated as her care manager, Jodi Montgomery.
Around this period, Britney and Federline shared 30/70 of the parenting responsibilities. Britney made a formal request to have her father’s conservatorship terminated in August 2020.
After receiving criticism from Britney’s legal team, Jamie eventually withdrew the petition to re-appoint Wallet in October 2020. A day later, he requested that Wallet act as a conservator alongside him.
A judge designated Jamie and Bessemer Trust Company, wealth management and advising business, as co-conservators over Britney’s inheritance in November 2020. Following Britney’s desire that Bessemer Trust takes the place of her father, the change was made.
But in July 2021, following Britney’s now-famous court appearance in which she spoke out against her conservatorship and her father, the corporation announced its resignation.
Following Britney’s court appearance and increasing pressure from Mathew Rosengart, Britney’s new attorney, Jamie submitted court papers saying he will step down as her co-conservator in August 2021.
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Jamie argued there were “no actual grounds for suspending or removing” himself from his role as her conservator in his filing, but he ultimately made the decision to resign because he “does not believe that a public battle with his daughter over his continuing service as her conservator would be in her best interests,” the documents stated, according to TMZ. In September 2021, Jamie’s position as conservator of Britney’s estate was terminated.
Britney’s conservatorship was formally dissolved by Los Angeles Superior Court Judge Brenda J. Penny in November 2021. Britney was deemed capable of maintaining her own multimillion-dollar estate by the court, which also decided that the
The circumstances that resulted in the establishment of her conservatorship in 2008 are no longer pertinent. “The court decides that the conservatorship of the person and the estate is no longer necessary and that it is now effective,” Judge Penny declared in court, “it is hereby terminated.
