HOPE Snippet: Celebrity Financial Illiteracy ~ Toni Braxton Loses Rights to 27 of Her Songs Due to Bankruptcy
Toni Braxton is having financial problems, everyone knows that. She filed for bankruptcy with tens of millions of dollars in debt, and probably didn’t think that she’d be losing much of what she’s worked for all these years. But that’s what happened when the courts required her to give up over two dozen songs that she used to own. These songs built her stellar career, but they are now going to be making money for somebody else.
Toni was given the right to buy back songs in her catalog, as long as no one outbid her for the rights. But TMZ says that this is exactly what happened. A man named Robert M. Klein swooped in and undermined Toni. Now it’s as if Klein sang the songs, and not her. He reportedly paid double the price.
Some of the songs include “You’re Making Me High,” “How Many Ways,” and “Always.”