Did Jamie Spears make money from Britney's conservatorship?
The singer's father had assumed almost total control of Britney's financial affairs over the past 13 years and has benefitted hugely from the arrangement.
A Los Angeles judge has ruled to terminate Britney Spears’ conservatorship, the controversial web of legal constraints which have governed the star’s life for the last 13 years.
Since 2008 the singer's father, Jamie Spears, has been granted legal control over much of Britney’s life after a very public meltdown led to a court instating a “temporary conservatorship.” The restrictions were two-fold and related to both her personal life and her financial decisions.
As the principal of the conservatorship, Jamie has had access to the huge amounts of wealth that Britney has accumulated during a stellar career and on Thursday the singer implied that her father had benefitted hugely from the arrangement.
She said: “Considering my family has lived off my conservatorship for 13 years, I won’t be surprised if one of them has something to say [against ending my conservatorship]… I just don’t like feeling like I work for the people who I pay.”
How much did Jamie Spears make from the conservatorship?
Jamie Spears had been entrusted with decision-making powers over all elements of his daughter’s personal and financial life since 2008, when the conservatorship came into effect. The singer has amassed a fortune estimated to be worth $60 million and reports suggest that her father has been paid handsomely for his involvement.
Over the past 13 years Jamie has taken a monthly salary and received office space, both paid for by his daughter’s estate. Forbes has reviewed court documents which lists the salary as $16,000 per month, which amounts to $2.4 million over the course of the conservatorship. Jamie’s office is thought to have costed Britney $2,000 per month, adding another $300,000.
On top of that there have been hundreds of thousands, if not millions, of dollars’ worth of legal fees relating to the conservatorship, which have also been covered by Britney’s earnings.
Jamie Spears reportedly took a cut of tour earnings
Despite being deemed unable to look after her most personal affairs, Britney Spears returned to work just one year after the conservatorship was initially imposed in 2008. She soon embarked on a dizzying spell of engagements, starring on The X Factor, releasing a number one album and preparing for a lucrative live show tour.
Jamie appears to have gained hugely from these tours, pocketing 2.95% of the massively popular Femme Fatale tour in 2011, according to the New York Times. He then secured a 1.5% cut of gross revenue from the ‘Piece of Me’ residency in Las Vegas, which reportedly brought in $138 million over the course of nearly 250 shows.
This demanding work schedule has been cited as evidence of Britney’s ability to regain control of her life, and has cast doubt over the suitability of her father being conservator. W. Michael Hensley, a probate lawyer in California, said that the situation was “fraught with conflict.”