Bobbi Kristina gets all of Whitney Houston's money, which belongs to Sony
It's small consolation to Whitney Houston's daughter Bobbi Kristina that her mother left her everything in the singer's will. It's even smaller consolation once you realize Whitney's estate was tens of millions of dollars in debt.
Inside Edition says Houston's will, released Wednesday, leaves 19-year-old Bobbi all of her worldy possessions, which will be put into a trust until the girl turns 21. Bobbi will get more when she turns 25, and even more when she hits 30. Whitney's mom Cissy renounced her title as executor, a position Whitney's sister-in-law Patricia Houston took over. Ex-husband Bobby Brown gets nothing.
Of course, since Whitney signed a $100 million deal with Sony in 2001 to produce six albums, she only made about $40 million. If you can do the math, that means Sony is owed a pretty penny yet.
"The reality is that her estate probably won't see a royalty check from Sony in our lifetime," recording industry blogger Wayne Rosso told TheDaily.com. "It's really an advance against sales. They loaned her the money, and her records didn't sell. She owes Sony at least $20 million. She's going to have to sell 5 million more records before her family sees a dime."
Of course, Sony already has gotten a lot of flak for increasing the price of Whitney's albums right after her death, so maybe they'll make enough off that to get Bobbi Kristina something. You know, like a bus ticket out of New Jersey.
[Photo: Getty Images]