Posted on 08/02/2010 2:07:25 PM PDT by SeekAndFind
Scottish singing sensation Susan Boyle lives like a pauper -- although she's sitting on more than $15.7 million in the bank, according to a stunning report yesterday.
Boyle's managers have such a tight financial leash on the "Britain's Got Talent" star that she's allowed to spend only $471 a week, has no credit cards and travels by bus, the British paper News of The World reported.
"When Susan realized she can't just walk into a bank and take out her own money, she had a fit because she thought she was down to her last few quid," her brother Gerry Boyle said.
"Her millions are ring-fenced, but Susan has no concept of money. She was extremely distressed."
The newspaper said sources within SuBo's management team confirmed her paltry allowance, but insisted Boyle, 49, could have more any time if she wanted.
(Excerpt) Read more at nypost.com ...
Susan, fire those bums and hire me as your manager. I’ll let you have at least $700 a month.
I wish I had 471 bucks a week that wasn’t spoken for in advance! My check was deposited last night, I’ve been handing out money all morning.
If true, this is not news. It's only proof that she is a dingbat.
I’ve seen enough of her odd behaviors to convince me her managers are smart.
I’m thinking she could pi$$ away 15 million bucks in a matter of months.
Just hope she has trustworthy handlers.
Reminds me of some relatives of mine who had my 95-year-old great aunt’s assets in a high-growth fund.
RE: I’m thinking she could pi$$ away 15 million bucks in a matter of months.
C’mon mates, Let the lady live it up a bit, double her allowance. Unlike the Queen and the Royals, she worked for her money.
Wait....if all of my housing and utilities are taken care of and I have 460 a week to spend on whatever I wanted, I’d be living pretty high on the hog!
A friend of mine, who grew up with a lot of money, told me once, “Some people don’t know how to have money.” I have seen that proven true over and over again.
Hmmm...$471/week or $700/month....say, you wouldn’t be trying to take advantage, would you? ;-)
She is nutty, to be sure.
But the video of her debut performance is wonderful. Everybody judged her by her looks and made fun of her, until she opened her mouth and belted out a beautiful song.
The stunned (stuned) looks on their faces was priceless.
http://www.youtube.com/watch?v=RxPZh4AnWyk
-PJ
A friend of mine, who grew up with a lot of money, told me once, “Some people don’t know how to have money.” I have seen that proven true over and over again.
_________________________
Lottery winners and those who won huge settlements from lawsuits are the most vulnerable. Remember the 1989 Alton Bush crash? 21 children died. 150 million dollars in damages awarded. To peons who lived on $500 a month.
Caused way too many probles. And most of them wasted the money. Mostly all gone now.
I wonder who hired her managers who have control over her money. The performing industry is full of artists who have been taken advantage of by accountants, etc...and these are people who supposedly have all of their faculties.
Even if she lived another 40 years she would not have even used up 1/2 of her assets.
Yes, she certainly shouldn’t have control over her money.
But she has earned it. Let her buy what she wants within reason given what she is worth.
Who, me? Never!
That might make sense if it isn't all of her money and she has more than she'll ever be able to spend. In that case you're really investing it for her heirs instead of for her.
There's a reason! A bigger margin of profit.
First time acts money goes more towards the record company and managers. They sucker them into a bad contract for years. How much more for this poor handicapped girl.
As John Gotti spoke Nobody is more of a Crook than entertainment people.
It's HER MONEY.
This talented lady should be able to enjoy the fruits of her labor. Much too severe a budget.
I hear ya.
Yes, many/most do waste it, but I’ve seen others use their “new” wealth to bully and intimidate people. Others become ultra stingy with others, always trying to get out of paying on one pretext or another, while lavishly spending on themselves.
My friend’s parents tithe 80% of their earnings every year. They live in a nice enough home, but very little about their lifestyle screams, “We’re RICH!”
Proverbs 13:11
11 Wealth gained hastily will dwindle,
but whoever gathers little by little will increase it.
Proverbs 14:15
15 The simple believes everything,
but the prudent gives thought to his steps.
Proverbs 19:2
2 Desire without knowledge is not good,
and whoever makes haste with his feet misses his way.
Proverbs 21:5
5 The plans of the diligent lead surely to abundance,
but everyone who is hasty comes only to poverty.
Proverbs 23:4
4 Do not toil to acquire wealth;
be discerning enough to desist.
Proverbs 28:19-20
19 Whoever works his land will have plenty of bread,
but he who follows worthless pursuits will have plenty of poverty.
20 A faithful man will abound with blessings,
but whoever hastens to be rich will not go unpunished.
Yep. Look at the legions of NBA and NFL players who are penniless within 5-10 years after retirement.
I’m curious about the tax situation there in Scotland. How much of that is the Crown going to take?
Much too severe a budget.
Yes it is. They should at least buy her a bike. She needs to avoid the bus...too dangerous. There are lots of good used bikes out there.
RE: I’m curious about the tax situation there in Scotland. How much of that is the Crown going to take?
ACCORDING TO THIS SITE :
http://www.adviceguide.org.uk/scotland/life/tax_scotland/income_tax_rates.htm
Income tax: taxable bands and rates 2010/2011
Taxable income rate of tax
0 - £2,440 10 per cent (starting rate for savings only)
0 - £37,400 20 per cent (basic rate)
£37,401 - £150,000 40 per cent (higher rate)
Over £150,000 50 per cent (additional rate)
Basic rate
Tax is payable at the basic rate of 20 per cent on taxable income up to £37,400.
Higher rate
If you have more than £37,400 but less than £150,000 of taxable income, you will have to pay a higher rate of 40 per cent tax on the amount above £37,400 and below £150,000.
Additional rate
If you have more than £150,000 you will have to pay an additional rate of 50 per cent tax on the amount above this level.
Right. I figured it was quite high. So perhaps they have structured this windfall for her in such a way as to avoid those confiscatory taxes. I wouldn’t assume the managers are cheating her or trying to retain the money for their own management interests.
Not sure what that means. Do they pay the tithe (10%) on 80% of their earnings? Or do they give 80% of their earnings to the church?
I read one article that said she has had behavioral problems since she was a child, bipolar was how it was described.
They give 80%.
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