Katie Price declared bankrupt

RandallFlagg

Official receiver will now take over her property and financial affairs.

I find it depressing and sad to see how the celebrity lifestyle and the wealth that it brought could have provided a sound and secure future for her and her kids but it is pissed away on plastic surgery, excess and a party lifestyle. She was well set at one point with book deals, TV shows, modelling, perfumes etc.

What a waste. 

GoldenEraGuitars

Crazy isn’t it? I saw an advert for a programme (that I think I missed) about lottery winners who did the same thing and I can’t help but think that having that much money is a recipe for misery. Mind you, Botox isn’t on my Christmas list.

octatonic

It is almost as though having a lack of discernible skills, talent or intelligence is a barrier to long term financial success.

thecolourbox

The trouble is, the mentality which gets them to celebrity in the first place is usually what does them in at the end, so unless that mentality is a conscious act to get you there, it's very hard to change from it once you get there. 

"Getting more money" is usually the aim and leads to greed. "Getting enough money" is a harder mentality to adopt and strive for I think.

Most people want to be happy, not greedy. But most of them are too greedy to notice.

EricTheWeary

RandallFlagg said:

but it is pissed away on plastic surgery, excess and a party lifestyle. 

You may be right but that seems like a lot of assumptions. 

octatonic

Look for the 'How I lost it all' TV special soon on the lower order of the listings.

Jalapeno

EricTheWeary said:

RandallFlagg said:

but it is pissed away on plastic surgery, excess and a party lifestyle. 

You may be right but that seems like a lot of assumptions. 

Oh she's had a LOT of cosmetic treatments !  Which is a shame, I respect that she made a fortune out of literally nothing, sad she's frittered it all away. From all the telly she's done she seems a genuinely nice person, but a huge princess with it when it comes to relationships (and cosmetic surgery).

EricTheWeary

Jalapeno said:

EricTheWeary said:

RandallFlagg said:

but it is pissed away on plastic surgery, excess and a party lifestyle. 

You may be right but that seems like a lot of assumptions. 

Oh she's had a LOT of cosmetic treatment !

Yes but the cost of that is relative to what you earn and, arguably, if your business is your image it's reinvestment.
I'm guessing she had a business manager, some kind of financial advisor so unless she ignored all their advice and did spend all her money on Botox and booze then the money has gone in some other way. 

Jalapeno

EricTheWeary said:

Jalapeno said:

EricTheWeary said:

RandallFlagg said:

but it is pissed away on plastic surgery, excess and a party lifestyle. 

You may be right but that seems like a lot of assumptions. 

Oh she's had a LOT of cosmetic treatment !

Yes but the cost of that is relative to what you earn and, arguably, if your business is your image it's reinvestment.
I'm guessing she had a business manager, some kind of financial advisor so unless she ignored all their advice and did spend all her money on Botox and booze then the money has gone in some other way. 

Not too sure a financial advisor saying "no" would have survived long with her   Which reading between the lines the court appointed IVA supervisor has had to deal with.

Jalapeno

She'll probably get another book & TV deal from being bankrupted !

Zoolooter

I remember watching a doco on her and family. Country house, a few acres, horses and thinking she’s actually sorted and got things right. Very sad.

RandallFlagg

EricTheWeary said:

RandallFlagg said:

but it is pissed away on plastic surgery, excess and a party lifestyle. 

You may be right but that seems like a lot of assumptions. 

Well I don't know how much of this is true but it appears to echo my comments with added financial problems with her numerous failed businesses and a libel court case payout plus several divorce settlements. She was already on an IVA but failed to keep up the payments. From £40M to bankrupt.

https://metro.co.uk/2018/08/07/where-did-it-go-wrong-for-katie-price-inside-her-financial-worries-as-she-avoids-bankruptcy-7808302/

https://www.heart.co.uk/showbiz/this-is-how-katie-price-lost-her-fortune/

fretmeister

Apparently she had £40 million at one point.

I wonder how much of the excessive spending was due to media / production company pressure to try and keep her in the public eye even when it may not have been in her best interest?

It probably would have taken quite a while for the tabloids to forget about her, but £40 Mil is plenty to get to the end of your natural and leave some for the kids if only "normal extravagant spending" is allowed and not very silly spending. At her age and assuming she lived until 80, she could have lived on "only" £500K per year and still left £20 Mil for the kids - or plenty more with a good wealth manager.


Slightly different - I saw that the chp who won the £105,000,000 lottery the other week has gone public.
I really don't understand that. The hassle they will now get will be enormous. Newly found mates asking for stuff, old flames, 100 begging letters a week etc

If I ever won that sort of money I wouldn't even tell my own kids until they were adult.

Jalapeno

fretmeister said:

Slightly different - I saw that the chp who won the £105,000,000 lottery the other week has gone public.
I really don't understand that. The hassle they will now get will be enormous. Newly found mates asking for stuff, old flames, 100 begging letters a week etc

If I ever won that sort of money I wouldn't even tell my own kids until they were adult.

Indeed, I'd get the bulk of it administered by a charity.

Philly_Q

Bankruptcy never seems to curtail celebrity lifestyles though, does it?  Look at Boris Becker.

She'll probably just carry on turning up to the Now TV awards and all that bollocks, taking the freebies where she can, sneaking food from the buffet and somehow spending money she hasn't got.

MrBump

GoldenEraGuitars said:

Crazy isn’t it? I saw an advert for a programme (that I think I missed) about lottery winners who did the same thing and I can’t help but think that having that much money is a recipe for misery. Mind you, Botox isn’t on my Christmas list.

The wonderful Michael Carroll springs to mind...

https://metro.co.uk/2019/11/16/lotto-lout-much-happier-working-as-coalman-after-blowing-10000000-fortune-11168205/

When my mother was living in Norwich, she used to bang on about him all the time, what with him being the local infamous celebrity.  

Kilgore

She's signed up to a new reality tv show.

I'm A Celebrity Get The Bailiffs Out Of Here.

CloudNine

fretmeister said:

Slightly different - I saw that the chp who won the £105,000,000 lottery the other week has gone public.
I really don't understand that. The hassle they will now get will be enormous. Newly found mates asking for stuff, old flames, 100 begging letters a week etc

If I ever won that sort of money I wouldn't even tell my own kids until they were adult.

The reason that pretty much everyone goes public with such large wins, is that they are advised to do so on the basis that there is 100% ZERO chance that you will remain anonymous anyway. Press will find out easy enough, you can't hide that kind of thing, work colleagues. friends of friends etc. Probably people who are jealous and want to blow them up. It cannot be hidden. Camelot will manage the whole press element and give them what they want, in the hope that it avoids people hanging round outside the house etc. and gets it done in one big hit.

If you dont plan to spend any at all, and just stick it in the bank, then maybe you might stand a chance.

EricTheWeary

I've read the Mirror article which outlined her excessive spending. I'm not entirely sure having a bunch of designer clothes and a horse ( etc,etc) blows through all of £40million. She had businesses, it's not dependent on her getting a few thousand for opening a supermarket from time to time. 
I have absolutely no idea why I'm trying to spring to her defence but my impression is that's it's more complicated than just blowing it all on pink Range Rovers ( although she did have pink Range Rovers). 
Maybe because I've been thinking about buying a pink Strat? Perhaps we are like minded souls after all...

scrumhalf

Not that long ago she made a great deal out of the fact that whilst Jordan was some pneumatic creation that got her tits out at any opportunity, Katie Price was an astute businesswoman who had done very well for herself.

Well... maybe not.

guitars4you

RandallFlagg said:

Official receiver will now take over her property and financial affairs.

I find it depressing and sad to see how the celebrity lifestyle and the wealth that it brought could have provided a sound and secure future for her and her kids but it is pissed away on plastic surgery, excess and a party lifestyle. She was well set at one point with book deals, TV shows, modelling, perfumes etc.

What a waste. 

It's a sad reflection of the pointless celebrity market that is so rife - I hate the whole pointless celebrity industry and yet so many see such people as their hero's - Add OK and Hello to that - You can't blame the business for running it, but you can blame the public for buying it 

The days before Kindle, when you could walk down the beach, on your summer hols and see so many Brits reading such 'biographies' - For many it will be the only time of the year they read, and that is the best they can come up with

Even in her 'Jordan' glory days she looked a dog and it just got worse the longer it went on