Katie Price’s net worth fell from £45million to £770,000 due to spiralling debt
Katie Price has been in the limelight for 25 years now, and during that time she's certainly experienced the highs and lows of fame.
The mum-of-five has undoubtedly made plenty of money from various business ventures, including reality TV shows, her own brands of perfume, and writing children's books.
However, Katie also appears to have lost a lot of money over the years as she was declared bankrupt in December 2019.
The former glamour model is now in a relationship with former Love Island contestant Carl Woods and the pair are often seen advertising various products and clothing on their Instagram profiles.
What is Katie Price's net worth?
Katie’s net worth now reportedly stands at less than £1 million, coming in at just over £770,000.
It's believed that at the peak of her career, the 42-year-old's net worth soared to an estimated £45million due to her involvement in fashion, television, writing and modelling.
Katie has five children in total who depend on her financially, however she shares parenting duties with ex-husbands Peter Andrea and Kieran Hayler.
Why was Katie Price declared bankrupt?
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Katie was declared bankrupt in December 2019 and her debts were listed as totalling more than £3.5 million.
It was claimed that £2 million was owed in legal fees and £1million of debt related to a working farm.
It came after Katie was given 12 weeks to avoid bankruptcy and pay off her creditors at a High Court hearing in August 2018.
She was given the option to pay off her debts through an Individual Voluntary Arrangement.
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It seems a series of events in her personal life, drug use and mental health problems led to Katie losing control of her financials.
At a bankruptcy hearing in July 2020, Katie confirmed to the court she was living in rented accommodation costing £4,200 a month.
The court heard she had average earnings of £45,000 a month for the last six months, but she told the court: "I have not got any assets."
Katie is now living with her boyfriend Carl Woods, and the pair are said to be trying for a baby together.
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