Toni Braxton, Financial Genius

In Music by ThisDummy1 Comment

Toni Braxon is back in the business of making financially sound decisions.  Just 6 months out of her second bankruptcy, TMZ is reporting that the 90’s R&B legend has purchased a $3 million mansion in the celebrity suburb of Calabasas.  The modest 4 bedroom,  5 bathroom, 5,323 square foot home nestled in an exclusive gated community about 30 miles north of Hollywood boasts some high profile neighbors including Justin Bieber, what’s left of the Jacksons and even a couple Kardashians to keep up with – which is great because the singer seems to like to keep her budget stressed.

The 6 time Grammy Award winner filed for bankruptcy most recently in 2010 (the first time was in 1998) claiming nearly $50 million in debt to creditors including the IRS, Tiffany & Co, Neiman Marcus and DirecTV.  Oprah Winfrey famously chided the singer on her show for her lavish spending during her first bankruptcy saying, “I hear you have Gucci flatware; I’m Oprah Winfrey and I don’t have Gucci flatware.”  In her Behind The Musicthe singer described Oprah as having been “so freakin’ mean” for reprimanding her on national television.  Just last year Braxton was outbid for the copyright to 27 of her most famous songs that went up for auction as a result of her bankruptcy.

Braxton has established a well-defined pattern of behavior where her spending is concerned, but the singer has been touring steadily and is set to release her first new album in four years next month, a duet album with Babyface titled Love, Marriage and Divorce.  She is also currently starring in the third season of her hit reality series Braxton Family Values on WeTV.

Well let’s just hope that this next chapter for Toni is better than chapter 7 was.


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