Breakdown of Aaron Carter's net worth, from fame and fortune to financial struggles
Aaron Carter's net worth at the time of his death was estimated to be between $400,000 and $550,000, a significant difference from the millions he earned as a teen pop sensation. Despite making over $200 million in his early career, financial mismanagement, debt, and legal troubles drained much of his wealth.
Source: Getty Images
TABLE OF CONTENTS
Key takeaways
- Aaron Carter earned over $200 million as a child star, but only received around $2 million when he turned 18.
- His net worth reduced significantly due to financial mismanagement, debt, and costly legal disputes.
- In 2013, the singer filed for Chapter 7 bankruptcy, revealing over $3.5 million in debt with only $8,200 in assets.
- Aaron Carter died without a will, so his only child, Prince Carter, inherited the estate.
Aaron Carter's profile summary
| Full name | Aaron Charles Carter |
| Gender | Male |
| Date of birth | 7 December 1987 |
| Date of death | 5 November 2022 |
| Age at death | 34 years old |
| Place of birth | Tampa, Florida, United States |
| Nationality | American |
| Religion | Christianity |
| Ethnicity | White |
| Education | Ruskin School |
| Eye colour | Dark brown |
| Hair colour | Dark brown |
| Weight in kilograms | 73 |
| Weight in pounds | 161 |
| Height in centimetres | 173 |
| Height in feet and inches | 5'8" |
| Father | Robert Gene Carter |
| Mother | Jane Eleonora Schneck |
| Siblings | 7 |
| Sexual orientation | Straight |
| Ex-partner | Melanie Martin |
| Children | 1 |
| Profession | Singer, rapper, actor |
| Net worth | $400,000–$550,000 |
| @aaroncarter |
What is Aaron Carter's net worth?
According to Celebrity Net Worth and Style Caster, Aaron Caster had an alleged net worth of between $400,000 and $550,000 at his demise.
What was Aaron Carter's net worth at the peak of his career?
In a 2016 interview with Oprah: Where Are They Now, Carter stated that his net worth was more than $200 million at the peak of his career as a teen. He remarked:
No disrespect to my brother, but when Nick was 18 years old, and I was 10 years old, I was just kind of starting to make lots of money. I made over $200 million in my career before I even turned 18 years old.
Source: Original
Aaron Carter's singing career from childhood and how it evolved
Aaron Carter started his singing career at a tender age. He began performing at seven as the lead singer of a band named Dead End, but he soon went solo.
His breakthrough came in 1997 when he was nine years old. He released his self-titled debut album, which sold over a million copies worldwide. Aaron's Party (Come Get It) (2000), his second album, catapulted him to stardom, going triple platinum in the United States.
This success was followed by more albums, including Oh Aaron (2001) and Another Earthquake! (2002).
The American rapper became a teen idol, touring with popular artists, appearing on Nickelodeon, and even acting in Broadway musicals. At his peak, he was a pop culture icon, appearing on shows such as Lizzie McGuire, House of Carters, and Dancing with the Stars.
Source: Getty Images
Aaron did not release another album until 2018, when he released his fifth, Love. Two days after his demise in 2022, his final record, Blacklisted, was released.
How did Aaron Carter lose his money?
Aaron Carter lost much of his wealth due to poor financial management, legal challenges, and improper precautions during his childhood career. Despite earning hundreds of millions of dollars as a music sensation in the late 1990s and early 2000s, Aaron later admitted that he did not receive the full amount he was owed.
According to California's Coogan law, a portion of a child performer's earnings should be kept in a trust until they reach the age of 18; however, Carter claimed that this legislation was not appropriately followed in his case.
Source: Getty Images
When he reached adulthood, he was given only about $2 million instead of receiving the vast wealth he had generated.
He also claimed that his parents mismanaged his money, resulting in a loss of earnings and a lack of savings. Without proper financial literacy or expert advisors, the American singer struggled to manage his funds as he transitioned into adulthood.
Was Aaron Carter in debt?
Aaron Carter's financial struggles became more evident after he filed for Chapter 7 bankruptcy in 2013. At the time, he reported having over $3.5 million in debt, including more than $1.3 million owed to the IRS for delinquent taxes dating back to 2003.
The famous singer also owed credit card companies and had legal fees piling up, and he stated his total assets were about $8,200. His publicist, Steve Honig, commended the bankruptcy petition move, saying it was essential and helpful in putting him on the right path forward.
Steve further stated that most of the debt was from over a decade ago, when Aaron was a minor and wasn't in control of his finances.
Source: Getty Images
The rapper's financial troubles made headlines in 2019 when he launched a GoFundMe campaign to raise $100,000 to relocate from California to a safer place. He also reportedly attempted to sell his house in Lancaster, California, days before his death.
Who inherited Aaron Carter's money?
Since Aaron died without a will (intestate), California's intestacy laws stipulated that his entire inheritance be passed to his only child, Prince Lyric Carter. At the time of his demise, his son was legally too young to inherit directly; thus, a guardian of the estate had to be appointed to manage the funds until he turned 18.
While it is clear who will inherit his money, Aaron's estate has been facing financial challenges for years. According to Marca, his assets cannot cover his liabilities, which include taxes and other debts. As a result, his son's inheritance has little value.
FAQs
- Who is Aaron Carter? He was a famous American singer, rapper, and actor.
- What was Aaron Carter's cause of death? He died from accidental drowning in his bathtub due to the effects of sedatives he had taken and gas he had inhaled.
- How old was Aaron Carter when he died? The singer was 34 years old when he died on 5 November 2022. He was born on 7 December 1987.
- What was Aaron Carter's net worth as a kid? At the height of his career before turning 18, his net worth was reportedly over $200 million.
- How much was Aaron Carter's net worth when he died? The musician had an alleged net worth of between $400,000 and $550,000 at his death.
- What happened to Aaron Carter's wealth? His estate was inherited by his son, Prince. However, the inheritance was insignificant as Carter's assets could not cover his liabilities.
Aaron Carter's net worth at the time of his death did not reflect his lucrative childhood entertainment career. From chart-topping success to financial struggles, his life exemplifies the importance of financial literacy, particularly for young entertainers navigating the limelight.
Yen.com.gh recently published an article on Kid Rock's net worth breakdown and how he built his fortune in music. Kid Rock is an accomplished American multi-genre singer, rapper, instrumentalist, producer, and actor.
He is a multi-millionaire who has amassed wealth from his illustrious music career and business ventures. This piece reveals details of his career milestones and how he makes money.
Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
