Whitney Houston Is 'Flat Broke'

Singer and actress Whitney Houston is broke as a joke, says a new report. Various sources claim she's squandered her impressive fortune, estimated at $100 million (€76.7 million), and is now forced to borrow money for her most basic needs.

According to unnamed spies speaking to Radar Online, Whitney is currently living off money her label has advanced her for her next album, which doesn't even have an estimated release date.

Were it not for her friends, she would probably be living in the street, the report argues.

While reports about the singer's financial situation have emerged before, claiming things weren't exactly peachy at home, they were never this bad.

“Whitney’s fortune is gone. Music industry heavy hitters are supporting her and her label is fronting her cash against her next album, but no one knows when that will be released,” a source tells the celebrity publication.

Aside from the money she got from her label, Whitney is also relying on her friends' help, who basically cover her daily expenses – and even lend her money when she needs it.

In other words, there is nothing left of the glamorous diva of yore, at least, not in her current lifestyle. She no longer affords it.

“She might be homeless if not for people saving her. She is broke as a joke. She called someone to ask for $100. It is so sad. She should have Mariah Carey money, and she’s flat broke,” the tipster dishes.

Contacted for comment on these rumors, Whitney's rep stresses the reports are not just grossly exaggerated: they're ridiculous and completely unfounded.

The claims made by Radar are “totally false and ridiculous,” the singer's publicist says in a statement cited by CNN.

He goes on to say that proof that it's a lie is staring us in the face.

“She just made a movie with Jordin Sparks – 'Sparkle.' People get paid to make movies. [Houston's] not broke,” the rep adds.