Dionne Warwick doesn't seem to know the way to San Jose ― or responsible money management.
In her music career that has spanned 50 years, she's had 56 singles that cracked the Billboard Hot 100 between 1962-1998 and won five Grammys. None of that means jack to to the IRS, though. The singer reportedly owes a whopping $10.2 million in back taxes and fees to the IRS and the state of California. It could take her a while to pay that off because new documents show that Dionne only has $25,000 in assets!
Dionne's sole assets lie in the form of diamond earrings, a couple of fur coats and furniture that's over a decade old, according to TMZ. Her publicist, Kevin Sasaki, said that her financial ruin is the result of "negligent and gross financial mismanagement" in the late 1980s through mid-1990s. "In light of the magnitude of her tax liabilities, Warwick has repeatedly attempted to offer re-payment plans and proposals to the IRS and the California Franchise Tax Board for taxes owed. These plans were not accepted, resulting in escalating interest and penalties," he said in a statement.
However, it seems like some of that gross financial mismanagement is still taking place today. Even though she hasn't had a hit in 25 years, court documents show that Dionne still makes an impressive $20,950 per month on average that comes mainly from touring. So what's the problem? Her average monthly spending is $20,940. In other words, her monthly net gain before taxes are taken out is $10.
Dionne's diva spending habits include $5,000 per month on housekeeping and $4,000 per month on a personal assistant. She also rents a home in New Jersey for a whopping $5,000 per month.