The Real Reason Toni Braxton Suffered Financially

Toni Braxton was generating millions for her record label, Arista/LaFace. Still, her lawyer told the LA Times that Braxton made less than 35 cents per album and, in turn, was in a dire financial situation. In January 1998, eight weeks after filing a lawsuit against the label, Braxton also filed for bankruptcy. In November 2012, Braxton spoke with 20/20 about her financial troubles. She revealed that she declared bankruptcy due to recording contract issues that amounted to her receiving less than $2,000 in royalties and, as a result, having to reimburse her record label for clothes, travel, studio time, and music video costs.

"What happens is they will give you an advance million on the next record and the next record so you kind of stay in debt in a sense," Braxton explained. Braxton's vices obsession with home decor didn't help the situation, either. Braxton admitted, "I love dishes and house things so I kind of lost it a little bit on the houseware. One-thousand thread-count sheets, that's what I indulged in." 

In 1999, MTV News reported that Braxton and Arista/LaFace Records appeared to have settled the lawsuit, and Braxton began work on the follow-up to her 1996 album Secrets. Although Braxton settled for $20 million, The Daily Mail reported that she still owed a ton of money in legal, agent, manager fees, and taxes. While the singer did enjoy continued success, Toni Braxton found herself in financial trouble once again.

ncG1vNJzZmivp6x7r7XCpKCsr5mbwW%2BvzqZma29jaINxe9OhnGaqlZa5br7Emqqopl2pvK%2B1jJupmrCkpLtuv9SfnZ6qlZl6p7XNmqWcoZGhubp7