Celebrity Justice
Lawyer Says Brit Worth $40 Million

TMZ is in the courtroom where attorney Adam Streisand just asked the court commissioner to 86 Jamie Spears as conservator of Brit's estate.

Streisand said Brit's estate is worth $40 million. He also said Brit is in the middle of a $17 million IRS audit with her record label Jive Records and she has 15 different businesses.

Streisand asked that the Commissioner name Northern Trust Bank and Howard Grossman, Brit's business manager, as conservators.

Here's the rub-- the Commish wasn't convinced that Streisand, the second cousin of Babs, was properly retained by Britney. So far, no decisions have been made.

Story developing ...


Reader Comments

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61. C'mon Britney....Snap out of it! We're pullin for ya!

Posted at 10:27PM on Feb 4th 2008 by Here 4 Beer

62. The way the BritWreck seems to spend money on cars and such, $40m is much more than I thought she'd have left!

Seems like the IRS might be taking another big bite too!

"BritWreck - The Enron of pop stars!"

Posted at 10:38PM on Feb 4th 2008 by ShesNuts

63. That's nothing...Mike Tyson WAS worth $200 million and is now broke....

Posted at 3:26AM on Feb 5th 2008 by Dr. J

64. Britney,
I feel so bad for all the things that you have had to go through in your young life. Being treated as an object instead of a human being must have cut you so deeply inside then having no one who truly just want you for you. I am guessing that the true nature of having kids for you was unconditional love. But as the time went by and you were thrown under the bus for your lack of mothering abilities, which by the way we are all not born with, put you into a tail spin. Not to mention being pregnant for like three years. It is a shame that you were never told that you were pre-disposed to the Bi-Polar gene and that pregnancy enhances the effects. Many mothers do alot more harm in the paranoid state then you ever done so give yourself a little more credit. Just by listening to your newest songs I can truly hear how badly you wanted a life with Kevin, how much you gave up to try and be normal but even he abused your love. You did all that you could for that man but you can't buy love and he wanted his cake and yours and everyone elses. I wish that people could just read between the lines and give you a soft place to land. The media has made a mockery of your mental health and in the process distroyed your ability for a normal life. How many parents keep the kids from other parents...but I bet that the helicopters are not flying overhead to catch the action and to make money. The media has raped you of all your humanity and I hope that this intervention is a starting point at a life that you and your children deserve.
Not everyone wants the worst for you and many pray for your health,
Maggie

Posted at 7:27AM on Feb 9th 2008 by Maggie

65. How many houses does she actually own., i was under the impression she only had the mansion in summiit circle, she sold the malibu pad for $13m. And Adam Streisand said she has $40m in assets and 15 businesses, i dont know about in the US but here in the UK someones assets are their Businesses and Real estate not someones personal bank accounts. So that $40m assets are her houses and businesses not her money which is in bank acoounts and such. And does anyone know what these 15 businesses are? the first iv ever heard, maybe she bought them while she didnt know what she was doing, maybe she bought 1 of them hotels she keeps going to. And People keep saying she spends $800,000 a month, but she earns that amount each month anyway, and then $9,000,000 a year and that was before her new album came out, which didnt really take off but certainly didint flop, according to her divroce papers kevin federline pays mroe insurance on his cars and houses that britney, she only pays $2,000 on car insurance but most of her money goes on entertainment at $100,000 and $50,000 on her mortgage

Posted at 3:57AM on Feb 5th 2008 by Ben

66. whatever, she was originally worth five times that amount... she has squandered and frittered away most of her earnings on rubbish and taco bell . to be honest, if not for her mother, she wouldnt have any money and would be working at the kentwood piggly wiggly...this is not someone who understands finance. she makes money but cant retain it... yes, she is wealthy but in terms of what she once was..she's not.

Posted at 4:03AM on Feb 5th 2008 by noyankhere

67. I really do hope that US Weekly are right and that the $40m are JUST her assest not her noet worth, If not all them stories that were coming out when she was married to that leech were correct. You know the ones since Britney met kevin her money is dwindling ect, Kevin has spent $50m of britneys fortune now less than half, they were all the stories coming out when they were together, It now looks like they were right and she seen her was just after her moeny which is why he wants the kids, he didnt want his other kids but the leech get $20,000 a month of her for having them and he wants more, Why $20,000 it does not cost that much a month to look after 2 children, normal people wouldb be forced to pay $100-$200 a month or so why should she pay that much becuase shes amillionaire.

Posted at 4:13AM on Feb 5th 2008 by Anon

68. to most of us, 40million dollars is a lot of money, to me thats 20million pounds and its still a lot of money.!! however, when is the last time britney toured?. yrs ago..well well before the kfed exed her career...i dont blame him, because she choose to let him into her life ....not the other way round.. britney does not have a tour shedule .this is the way entertainers make their money not record sales..the record sales are like the coutuier gown to the tour dates pret a porter in the fashion world. you have to get out there to make the big bucks. she isnt able to do this and her career is over..sorry folks.. there will be another person to take her place soon no doubt the record companies are grooming the next big thing ..

Posted at 5:13AM on Feb 5th 2008 by noyankhere

69. I truly believe that once Britney is finally able to see beyond the cloud of hatred that has been over her head that the people who have hurt her had better run for the hills. Of all the people who have worked for Britney, they have ALL said that when it comes down to buisness that Britney is a complete professional so once she has control of all of her facilties i figure her hatred will fly right back. She will regain her parental rights, but I can bet you that Kevin won't be wearing the pants. He will go back to the skirts he is so fond of. As for her parents, I truly believe that they, deep down, want her to get better for the sake of her kids. I hope that this story has a happy ending.




Posted at 4:36AM on Feb 5th 2008 by Maggie

70. kevin federline is what he is.. a leech and a professional father.. in so far that he is fighting for the kids from a wealthy woman, the kids from the actress/singer/whatever are not going to interest him for him to fight over them.. there is no money in it..There is no point in dissing him for the very reason that most of you men on here would do exactly what he did..NEVER PASS UP AN OPPORTUNITY TO MAKE MONEY OFF A WOMAN.. come on lets get real... he is a pimp and brit brit was his beeeyatch!! most of her money has gone down his throat and he still didnt love her..!! lesson: spend on yourself and your kids not on men... they are like buses, miss one another one is always on route...

Posted at 4:47AM on Feb 5th 2008 by noyankhere

71. sorry maggie , this isnt disney.. its real life not reel life.. and it may not have a happy ending although you hope for the best. but expect the worst. her life as an entertainer is over . she has issues that will take yrs of therapy and hard work to work thru and medication will play a key part. in all this, there is no room for show business she needs to get out of dodge now!! at best all she can do is be a good mother to her sons but dont go expecting britney 1999 again.. leave her be...brit's public must let her go and be able to be herself now.. for yrs she has been this entertainer, a character created to make money for the record industry and i think she got lost in the whole britney spears pop star process. i do feel for her and want her to get better but as someone who has had family in this situation , she needs a lot of love , patience and understanding... she will get that from her family and friends in louisianna not hollywood . Once her illness was diagnosed i stopped hating on her..she was no longer a stupid girl as in the pink song.. she is not lindsey lohan .. i hope she goes away and the press can leave her alone to come to terms with the enormity of her situation .. there is no quick fix or singel tablet cure.. but she is alive so there is always hope .

Posted at 5:00AM on Feb 5th 2008 by noyankhere

72. Oops she did it again! She's gonna be broke soon and doing soft core porn! Watch the dollars vanish. Then back to the trailer park!

Posted at 7:39AM on Feb 5th 2008 by Izzy

73. TMZ, you said so yourself that Trope & Trope (Britney's divorce lawyers) hired Streisand for Britney. They have this right don't they? If so, then I don't see how the court can say that Streisand can't represent Britney. This may be why Jamie wants to fire Trope and Trope because Streisand is maybe really good at what he does and Jamie is scared?

Welcome to Peyton Place!

Posted at 7:33AM on Feb 5th 2008 by Me

74. 'Independent contractors' ( actors,race car drivers,ect) set up corporations and make a parent the VP,and a sibling the corporate secretary in order for them to draw a paycheck,receive health insurance,and pay into SS. Spears' businesses are probably for tour logistics,one corp. for t-shirt/trinket sales,another for recording royalties,one for travel,ect. Houses may be owned by the corp. in order to avoid judgements arising from litigation and liability issues. One credit card issued in the name of Corp A,another card for Corp B for accounting/tax purposes.

Posted at 9:05AM on Feb 5th 2008 by copperpossum

75. All her millions ain't worth a penny if she doesn't have stability, family, peace, love and happiness in her life....
wasted money spent on 'close friends and assistants', Rite Aid, Taco Bell, urban outfitters overpriced goodwill rags and nasty weaves....

Posted at 2:10PM on Feb 5th 2008 by she should go back to Louisiana

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