Things are finally looking up for Mel B!
The former Spice Girl is reportedly nudging millionaire status after teetering on the brink of financial ruin last year.
Mel’s financial woes started when her marriage to Stephen Belafonte crumbled in 2017. The two were embroiled in a messy legal tussle that involved custody of their daughter, Madison.
Last year, the singer wanted to move Madison (9) from the US to the UK to live with her but Stephen strongly opposed the move and wanted full custody.
Mel had to drop her legal battle after struggling to come up with the £286 926 (more than R6 million) in legal fees and £71 731 (about R1,51m) in accounting fees she was ordered by a judge to pay Stephen.
She pleaded with the
judge to lower the amounts as she simply couldn’t afford them due to a lack of
work caused by the Covid-19 pandemic.
“I will effectively be insolvent and will in all likelihood have to file for bankruptcy,” she said at the time. “I simply do not have the ability to pay such an exorbitant sum.”
She also owed the taxman in the US £1,5m (R31,5m).
Mel was forced to move
in with her mother after suffering from post-traumatic stress disorder and had
to ask her ex, actor Eddie Murphy, for higher maintenance payments so she could
get by. The pair share 13-year-old daughter Angel.
Now it seems the tide has turned thanks to the release of her memoir, Brutally Honest, and an appearance on secret singing competition The Masked Singer, among other gigs.
Recent accounts published by her Moneyspider Productions company show she’s back in the black.
Last year, Mel’s accounts showed she only had £961 (about R20 000) left but now she has £834 985 (R17,6m) in her account.
Even after she’s paid
her creditors she still has £649 313 (R13,7m) in net assets, according to the Examiner Live.
The year is off to a good start for her and it looks like it will only get better. The Spice Girls are set to go back on tour this year to mark their 25-year anniversary.
Mel, Mel C, Geri Horner (Halliwell) and Emma Bunton are planning shows across Europe, Australia and America but will tour without Posh Spice Victoria Beckham.