Hailey Bieber has received a lot of attention over the years thanks to her high-profile relationship with her husband, Justin Bieber. But we cannot forget that she also comes from a very famous family. Her father, Stephen Baldwin, has starred in several famous films. But Baldwin had big money issues that made headlines.
Today, Bieber has a lot more money than her father – and that’s because of his huge debts. Here is what happened.
Stephen Baldwin’s bank reportedly had more than $ 2 million
While Baldwin was known as a separate actor from a well-known family, things did not look good for his reputation back in 2009. According to Reuters, the actor filed for bankruptcy in New York – and court documents noted he had millions of dollars.
The documents that noted Baldwin had more than $ 2.3 million, to be more precise. He filed for the defense of Chapter 11 at the time.
So what was Baldwin spending his money on? He apparently got into trouble for not paying off the debts on his home or his taxes. Reuters notes the actor had about $ 1.2 million on two mortgages for his home in New York, and had more than $ 1 million in taxes. He also had credit card debt.
Not only that, but Famous Net Worth noting that he did not file his income tax in 2008, 2009, and 2010. As a result, Baldwin paid $ 300,000 in penalties and back taxes.
Baldwin’s debts caused his home in New York
The trouble didn’t stop back in 2009, either. In 2016, Daily mail notes Deutsche Bank asked the court to order Baldwin and his family out of their New York home, as Baldwin was reportedly in debt to that bank for more than $ 1 million for unpaid mortgages accumulated over the years.
As to when the debts began to accumulate, the publication notes that Baldwin stopped paying in 2011, according to the bank. And a foreclosure lawsuit had reportedly been pending since 2013, but Baldwin never filed a response, thus causing a delay.
As for what Baldwin took out for his 3,071-square-foot home in New York, his loan appears to have been worth $ 812,500 at the time. Once the loan was taken out, Baldwin was entitled to repay the mortgage of $ 7,000 per month. At the time of the lawsuit, Baldwin still had to pay $ 781,991 on the loan.
It looks like the trouble didn’t end there, either. In 2017, Daily mail noting that Baldwin ‘s home in New York was closed and sold for just $ 100. As for the actor, he still had more than $ 1 million on the building, however.
Hailey Bieber has a much higher net worth than her father now
With this series of financial problems, it is likely that Bieber would have more money than her father now had. According to Celebrity Net Worth, Baldwin is worth just $ 500,000. Although he was successful enough in film, the issues with the payment of his mortgages, taxes and loans proved to sink.
Bieber doesn’t seem to fall into the same trap, though. She is worth over $ 3 million thanks to her success in modeling. Bieber has grown to become a leading model in the industry and has worked with bigwigs such as Topshop, UGG shoes, Karl Lagerfeld, Tory Burch, Dolce & Gabbana, and appeared in Ralph Lauren. Even with its success, its net worth compares with her husband’s money, as it is worth about $ 265 million.
So, is Bieber helping her father out with his finances now? We are not sure – and we doubt that either of them would want the public to know.
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