Mariah Carey’s penthouse may be in Manhattan, but her finances? Not so much.
The diva has racked up nearly $18.6 million in mortgages on her plush Tribeca pad — most of which came from loans. It looks like the “We Belong Together” singer’s life needs more money than the holiday earnings from “All I Want For Christmas Is You.”
The 55-year-old music legend reportedly loves the finer things, spending $1 million a month on designer clothes, gifts and extravagant expenses.
Insiders tell the Daily Mail her split from billionaire James Packer back in 2016 wasn’t just about their differences, but had a lot to do with her obsession with “money, money, money .”
Think $45,000 spa treatments for her dogs, $100,000 a month in exotic flowers, and $10,000 a season for hair and makeup.
Mariah bought her Tribeca penthouse for $9 million in 1999, combining it with the apartment below.
Since then, it has been a financial high. In 2009, he borrowed $8 million from JPMorgan Chase Bank, followed by a $2.6 million loan from City National Bank – known as “Bank to the Stars” – in 2015.
In 2016, shortly before her divorce from Nick Cannon was finalized, Carey returned her JPMorgan debt to $ 17.6 million, putting $ 9.6 million into the process, the agency reported. Then, in 2018, the loan was raised again to $18.6 million with an additional $1 million.
Despite having a net worth of $350 million, Mariah is also on the spree. He recently listed his nine-bedroom Atlanta home for $3.92 million — a $1.73 million loss just 18 months after buying it for $5.65 million.
Why is it so expensive? Of course, experts have theories. “Mariah doesn’t leave the house, it costs her $150,000, $200,000 just to leave the house,” ex-husband Nick Cannon said in 2022, highlighting how much it takes to keep up with her high-profile lifestyle. .
Doug Perry, a financial advisor, thinks his salary is more seasonal than year-round.
“She generates most of her music, endorsement deals and appearance fees during the holidays,” Perry told the Daily Mail. “If I were writing to him as a borrower, I would average his income over a period of years.”
But with her Tribeca penthouse now worth $30 million to $35 million, according to Perry, Mariah still has serious equity left in her property empire. I can borrow it. He added: “Mariah cashed in on the equity created by that recognition by taking out a series of bigger and bigger loans.”
Carey, who hasn’t released a new album since 2018, is gearing up for her upcoming Christmas tour, starting Nov. 6 in California and finished in Brooklyn on Dec. 17. After that, you will start living in Las Vegas. January. And with tickets costing up to $2,700 a pop, the singer would be closing his bank account in no time.
Despite reports that she is back in action, Mariah has faced some problems recently. He lost his mother and his estranged sister on the same day last month. “My heart is broken that I lost my mother,” Carey said on August 27.
The singer took to Instagram to thank fans for their support, posting a rehearsal clip for his upcoming shows in China and Brazil. She wrote: “It’s been a tough few weeks, but I really appreciate everyone’s love and support.
#Mariah #Careys #lavish #lifestyle #causing #financial #problems #including #18.6M #mortgage #debt