London: Whitney Houston, who has overcome crack cocaine addiction, has reportedly spent all of her fortune including a reported 100-million-dolar record deal.
According to a source close to the singer, Whitney is being financially supported by her record label Arista, which has given her an advance payment on her next album.
“Whitney’s fortune is gone,” Radar Online quoted the source as saying.
“Music industry heavy hitters are supporting her and her label is fronting her cash against her next album, but no one knows when that will be released.
The six-time Grammy winner has blown through an enormous fortune that she amassed over decades of stardom.
“She might be homeless if not for people saving her.
“She is broke as a joke.
The 48-year-old singer is believed to be in such a dire financial position that she has even had to resort to contacting friends for small loans.
“She called someone to ask for 100 dollars. It is so sad.
“She should have Mariah Carey money, and she’s flat broke,” the source said.
But a spokesperson for the singer strongly denied the claims.
“That is ridiculous and not true!
“She stars in SPARKLE out in August which she also Exec produced.
“She just wrapped the film,” the spokesperson added.