Dionne Warwick compiled a storied career as a singer and songwriter. She has sold over 100 million records and won five Grammy Awards. However, the singer is nearly broke after years of earning a great amount of wealth.
According to reports, Warick, 72 years-old, has debt over $10.7 million and only $1,000 in her bank account. Warwick earns $20,950 per month, but she has monthly expenses of $20,940. As as a result, she take homes only $10 per month.
Warrick recently filed for bankruptcy in Newark, New Jersey.
Warrick’s fall from grace should be another important lesson to young stars in music who have poor money management skills.
Nearly every person who becomes a star in music will experience a decline in album sales at some point. Instead of buying 10 new cars and expensive jewelry, it’s important for new artists to save for rainy days.
