Lady Gaga is one of the highest-earning musicians working today, but was there ever a time when she struggled with money?
Lady Gaga comes from a wealthy family, and most people would agree that she was born rich. Her parents could afford expensive private schools and music lessons because her father was a successful internet entrepreneur.
Stick around if you want to learn more about Lady Gaga’s family fortune, and how she managed to make her own.
Family Fortune
Lady Gaga’s parents were nowhere near being billionaires, but there are indications that they were always well-off. Her mother Cynthia Germanotta was a business executive at Verizon, while her father Joseph Germanotta worked as an internet entrepreneur.
The singer’s father made a fortune after starting his own company Guest WiFi, which installed Wi-Fi in hotel chains. He launched this business in 2002, and went on to work with over 70 hotels and conference centers, starting with a New Jersey Holiday Inn.
Lady Gaga started attending the Convent of the Sacred Heart when she was 11, long before her father’s company was founded. The tuition for this private all-girls school didn’t come cheap, and her parents had to work hard to afford it.
This is one of the most prestigious private schools on Manhattan’s Upper East Side, and some of its alumni come from New York’s richest families. Broadway legend Elaine Stritch, socialite Nicky Hilton, and several members of the Kennedy family attended this school in their youth.
Lady Gaga’s parents didn’t struggle with money but didn’t take anything for granted, either. They worked hard for everything they had and expected their children to do the same.
“In my house growing up… my parents instilled a very strong work ethic in me and my sister. As long as I worked hard at whatever I wanted to do, they were ok with me doing it,” Lady Gaga was quoted saying in her biography by Amy Pettinella.
Money Troubles
Lady Gaga’s parents paid for her piano lessons and encouraged her to pursue music, but couldn’t do much more to help break into the industry. She performed at dive bars and small clubs before Def Jam Recordings agreed to sign her in 2006.
She got her big break in 2008 when hit songs “Just Dance” and “Poker Face” put her on the map. By the time 2011 rolled around, Lady Gaga had two successful albums and sold-out tours under her belt – but was also $3 million in debt.
The Grammy-winning artist told The Financial Times that she went bankrupt after the first extension of “The Monster Ball Tour”. She didn’t let this bother you since her passion for music wasn’t money-driven.
“The beauty for me about being an artist is that the dream will never die, because I’m not obsessed with material things and don’t care about the money and don’t care about the attention of the public, but only the love of my fans,” explained Lady Gaga.
Luckily, she managed to get back on her feet and earn a fortune in the years to come.
Lady Gaga’s Current Net Worth
Back in 2016, Forbes estimated Lady Gaga’s net worth at $275 million, but several sources reported that she could be worth even more. According to Celebrity Net Worth, she currently has $320 in the bank, and this number actually makes a lot of sense.
The singer’s career has been on an upward spiral since 2016. “Joanne World Tour”, the role in A Star is Born, and the Las Vegas residency “Enigma” could’ve had a positive impact on her net worth – plus she launched a successful beauty brand Haus Labs in 2019.
Lady Gaga made it to Forbes’ list of top-earning musicians of the 2010s, with estimated earnings of $500 million. She was also included on the magazine’s most recent list of the highest-paid celebrities of 2020, with a total of $38 million earned.