Katie Price Declared Bankrupt After Spending £45 Million Fortune
British media personality and model Katie Price has been declared bankrupt.
The former glamour model who is in debt of £800,000 was declared bankrupt today during a hearing at the Insolvency and Companies Court in London after failing to follow through her payment plan of £12,000 a month for four years to her creditors.
Price who was once estimated to have been worth £45 million (N20,982,768,750), now faces losing her properties, which includes her £2million nine-bedroom home in West Sussex.
The 41-year-old is said to be £100,000 in arrears on mortgage repayments on the home which she allegedly spends £2,000 a month heating by leaving it on all the time.
Price is also believed to have spent £120,000 on housekeepers, gardeners and nannies – and around £25,000 a year on plastic surgery.
She also spends £1,500 a week on manicures and pedicures, £1,000 on hair appointments and £800 on massages every other day, Daily Mirror reports.
The mother of five who had whose lavish lifestyle was funded through modelling, reality TV shows and fragrances at the height of her fame in the 1990s and 2000s now earns her living through her TV show “My Crazy Life” and by promoting weight loss products on her Instagram account.
Price rose to prominence in 1996 for her glamour modeling work with appearances, billed as “Jordan”, in British tabloids The Sun and The Daily Star.
In addition to her modeling and media career, Price has also established herself in the publishing industry, releasing six autobiographies, eleven novels, one fashion book, and two series of children’s books.