Startling news broke this morning when it was made public that international soccer star David Beckham and his former pop star wife Victoria had a financial reality check.
According to reports, the famous couple were told that their glitzy lifestyle was costing them huge amounts of their personal wealth. The reported quote from their accountant says they are spending money "down the drain."
To the average person, it seems unfathomable that a couple of their wealth could be in financial trouble, but that is reportedly the case.
Beckham, who signed a five-year, $250 million contract with Major League Soccer, and his wife are now in the midst of slashing expenses. But more important, how could the power couple reach this point? Here is a look at what factors are contributing to their financial gut check.
The Beckhams own four houses and they spare no expense on any of them. The house pictured here is Beckham's England-based crib. Rest assured, they have a house that rivals this one in size in Los Angeles, plus houses in France and Dubai. None of the four locations are known for their cheap property value.
The Beckhams reportedly employ a staff that runs 50 people deep. Two people...50 employees. One could see how paying those people could get a bit out of control. So, the Beckhams let go of 14 of those employees, including six of the seven gardeners that cater their house (ahem, mansion) in the south of France.
Victoria's days as a Spice Girl (do people even remember that anymore?) are long gone but her lavish lifestyle remains. Beckham's wife is an international jet-setting starlet who spares no expense when it comes to clothing, jewelry, traveling, etc... Victoria lives the life of a multi-millionaire to a tee. But can it reach a point where enough is enough?
The MLS and English star isn't much better than his wife when it comes to spoiling himself. Beckham enjoys the fruits of his labor as much as any other mega-celebrity.
Look at this picture of Victoria Beckham. Need I say anything else regarding where and how she spends her money on plastic surgery?
In late November 2007, the story came out that Victoria bought her kids a $50,000 tree house. Yes, you read that correctly, a $50,000 tree house. That is even less than the $187,000 playhouse she bought for her children for their home in England.
Victoria has not shied away when it comes to her handbag addiction. What one may be surprised to know is that Victoria has spent at least 1.3 million pounds on handbags. That equates to over $2.3 million in handbags. $2.3 million!
Whether it is a Bentley Arnage, Ferrari 360 Spyder, an armor-plated Mercedes S500 with bulletproof windows (because Beverly Hills can be dangerous with all those drive-by shootings), BMW X5 four-wheel drive, a Lincoln Navigator mega jeep, a Chrysler Grand Voyager, and an Aston Martin DB7, Beckham has spent well over $4.6 million dollars on cars alone.
The Beckhams reportedly dropped $155,000 to commission a statue of themselves and their child, Brooklyn. Talk about the height of self-aggrandizement.