Kardashian Family “Broke” and “In Debt”?!

Truth rating: 0
(Star)

By Michael Lewittes

(Star)

The Kardashians are “Millions In Debt,” blares a new cover story from Star, which claims the reality TV family is “going broke!” The magazine says the Kardashian-Jenner clan is “not nearly as rich as they let on,” and is “spending money faster than they make it.”

A so-called “insider” tells the tab, “The Kardashians have serious financial issues,” explaining, “They do a great job of keeping it quiet — they are the ultimate fraudsters in that sense — but their burn rate is out of control, and so many of their businesses and endorsements have been failures.” The purported “source” goes on to reveal, “Kim is a shopaholic! She spends $350,000 a month on her credit cards.”

“She pays hundreds of thousands of dollars for designers to custom-make clothes for her, and she spent millions on Louis Vuitton handbags to match each outfit,” notes the pal. The tab then points out the familys’ expensive collection of cars, which includes Kendall Jenner’s $90,000 Range Rover and Khloe Kardashian’s $500,000 Rolls-Royce Phantom, quoting a supposed “financial advisor” who tells the mag, “The cars are substantially depreciated.” Uh, yeah, that’s what happens when cars aren’t new anymore — for anyone.

Anyway, Star further says that the clan is in even more trouble of going broke because “Kourtney & Kim Take Miami” is “in danger of being canceled” due to low ratings. No, it’s not. Kim and Kourtney pick a new location to film their spinoff every year, and if they don’t decide to do the series again next year, it will be because they have too much else going on. As much as their critics may not like it, the Kardashian empire is still booming and the reality TV family is here to stay.

Star can spout off as many vague figures as it likes, but the truth is that the clan’s business model is actually the picture of success. Kim was on the Forbes highest-paid celebrities list last year, raking in more than $18 million, and she’s expected to land on the list again in 2013. Regardless, Gossip Cop checked in with a close Kardashian insider, who tells us it’s simply “not true” that the family is in any sort of debt.

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