The Family Is Living On David Beckham's Money

January 4. 2020

 Victoria Beckham

Former singer, Victoria Beckham, who was a member of the 1990s girl group the Spice Girls, has blown through all the money she made in music, in underwriting her unprofitable self-titled fashion line. Years ago it was estimated each Spice Girl in the quintet made £20,000,000 ($30,000,000).

Baby Spice, Sporty Spice and Ginger Spice have been living financially comfortable lives, without outrageous expenditures. However, Scary Spice reached the point of near bankruptcy, due to buying expensive mansions, pricey jewelry, six figure vacations and extensive plastic surgery, among other things.

Victoria married British football star David Beckham, who earned far more money than she did prior to and during their marriage. There's nothing wrong with that. However, her spending has far outstripped her husband's which is a bad idea.

David Beckham, son Brooklyn Beckham and Victoria Beckham

A recent report in the Daily Mail reveals Victoria borrowed £23,000,000 ($30,000,000) from David a year ago for her fashion line. Yet, one year later it lost £12,500,000 ($16,000,000) more. The fashion line continues to fail after a decade of being in business. If you have a business and for a decade it is not turning a profit, it is failing. Something needs to change.

Quite telling the £23,000,000 David loaned Victoria far exceeds the money she made in the Spice Girls, which means she has burned through her music earnings on personal spending and a floundering fashion line, and is now going through her husband's funds as well. This is not a good idea.

This also means the family is living off David's money, with Victoria having spent all of her funds. Technically, this means Victoria is bankrupt, as her debts far exceed her assets. However, her husband is still wealthy and she is using his money to stay afloat.

I wish I could tell you the Victoria Beckham fashion line is something innovative that is doing great things for fashion, but it is not, as it is rather indistinct and some of the items look strange. It's not worth all this financial debt. To make matters worse, Victoria has repeatedly turned down Spice Girl reunion albums and tours, when she so clearly needs the money for her other venture (the Victoria Beckham fashion line).

STORY SOURCE

Bad day for Brand Beckham: Victoria's company plunges £36m into the red after making £12.5m losses last year while David sees his firm's profits halved by £12m

Published: 04:22 EST, 27 November 2019 | Updated: 13:20 EST, 27 November 2019 - Victoria Beckham's fashion business has plunged almost £36 million into the red after making losses of £12.5 million last year, new figures have revealed today.

Her company Victoria Beckham Holdings Limited has just filed accounts for last year which show she has failed to turn round the troubled fashion empire. It has now made losses for every year since 2013. This comes as profits from her husband David's company DB Ventures halved over the span of a year, from £23.2 million in 2017 to £11.5 million in 2018.

David, 44, is thought to have lent his wife Victoria, 45, some £600,000 for her Victoria Beckham Ltd business, after he bailed out his wife's company with a £23 million cash injection in January...