Tragically, Aaron Carter’s financial situation finally started to turn around and his net worth was on the rise at the time of his death. According to The Things, the young singer created a name for himself fairly early in life and was worth tons of money by the time he was 18. Sadly, Aaron’s net worth took a massive nosedive.
Prior to his 18th birthday, he reportedly had a net worth of $200M. The young singer was rolling in more dough than he knew what to do with. A year ago, however, it was reported that his net worth had dropped by more than $100M. In the past year, though, there are multiple reports that Aaron was finally turning his financial situation around and his net worth was slowly on the rise.
What caused his net worth to take such a massive nosedive during his 20s? And, what was his net worth at the time of his passing? Keep reading for the details.
How did he lose so much money?
Unfortunately, Aaron Carter losing so much of his money wasn’t completely his fault. He blew up before he was legally an adult. So, his parents were in control of his money. When he became 18, he learned his parents were not good at managing finances. Unfortunately, the cost of legal fees and rehab stays only further ate into his net worth.
In his youth, Aaron Carter did very well for himself. Reportedly, he may have even made more money than his older brother Nick.
“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,” Aaron once revealed during an appearance on Oprah: Where Are They Now — Extra.
Thanks to Aaron and Nick’s success, the Carter family lived a really nice life. They actually lived on a massive compound that contained 12 different homes. Aaron revealed they paid $10M for the compound his family lived on.
Aaron Carter later explained that under Coogan Law, his parents were supposed to put 15 percent of his earnings away in a savings account for when he turned 18. By the time he turned 18, he should have had $20M tucked away. He, however, only ended up with a bank account of $2M.
Late singer Aaron Carter started his career in the ‘90s as a child star. See his net worth. https://t.co/F5FfKe1uNV
— In Touch Weekly (@intouchweekly) November 5, 2022
Aaron Carter net worth on rise at time of death
Aaron Carter lived a pretty hard life between his run-ins with the law and his struggles with addiction, but he was working hard on his music and his net worth was slowly on the rise at his time of passing. According to multiple outlets, Aaron Carter was believed to be worth approximately $400K at the time of his passing.
Let us know what you think about the fall of his net worth and his slow climb back up.
Rest in peace, Aaron Carter.
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