J. Lo, 55, filed for divorce on August 20, after just over two years of marriage, and now Jennifer is reportedly “throwing around money like she’s a billionaire right now, which just isn’t the case.”
Media Take Out learned that In Touch spoke with a person close to J Lo – who is dishing all the tea.
Jennifer has a net worth of approximately $400 million, but the source explains that her financial team “has told her that if she wants to stay that way, she needs to reign in her spending.”
“First of all, she’s got this divorce to settle, which could cost her as much as $50 million,” the source says. “On top of it, she’s now forking on all kinds of things, including another $50 million home.”
Jennifer was looking to buy a lavish Azria Estate in Holmby Hills, which is currently priced at $55 million. Though J. Lo is allegedly trying to get the cost down to a more reasonable $39 million, it would still be a fortune for the 14-bedroom mansion that also includes gardens, a greenhouse, a guest house and an infinity pool.
In addition, “She’s beefing up her entourage,” the source says, “which means her weekly spending has instantly tripled because when she goes anywhere, they all go with her.”
According to the insider, “She’s treating herself to outrageous shopping sprees. She calls it retail therapy and says she needs it, but the bills are outrageous. She’s regularly spending a few $100,000 a day on designer clothes for her and her entourage. The way she’s hemorrhaging money right now is madness, but she says it makes her happy so it’s worth it — end of story.”
