For weeks, rumours have been rife that Jessica Simpson has secretly split from husband Eric Johnson.
Now, reports suggest the pair are in serious financial trouble, having taken out as many as four mortgages on their Los Angeles mansion.
The couple’s palatial pad in the gated community of Hidden Hills was purchased in 2013 from Ozzy and Sharon Osbourne for a cool $17.6 million for their growing family – which consists of three children – Maxwell, 12, Ace, 11, and Birdie, five.
But with 44-year-old Jessica’s “billion dollar brand” the Jessica Simpson Collection, which she founded with her mum Tina in 2005, on the brink of going bust in 2002, she admitted during an interview on The Real that she “drained her bank account” to save it.
NOTHING BUT A MONEY PIT
Documents show that, in 2015, Jess and Eric, 45, took out a $11.3 million mortgage on the property.
Just two years later, they took out an additional $12.3 million loan. Further mortgages – for $5.6 million and $4.6 million – were also documented.
After acquiring a major stake in her business in 2015, Sequential Brands Group Inc. filed for bankruptcy in 2021 – and Jess used a mix of bank loans and family help to buy it back for $99.8 million.
“Jessica’s up to her eyeballs in debts,” an insider tells Woman’s Day.
“She and her mum took out a huge loan to buy back her company three years ago and since then it’s been nothing but a money pit.”
“It’s quite unbelievable for the woman who at one point was top of Forbes’ list every year, but no one’s surprised to see her dipping into her home to get by.”
“What’s even more complicated is the fact that if she goes ahead with this divorce, that ain’t cheap either. But at this stage, not many of her friends think the marriage is salvageable.”
SOURCE OF FRUSTRATION
Once a pro-footballer with a successful NFL career, Eric hasn’t really worked in years, which has been a big bone of contention for the pair – particularly during this time of financial stress.
“Eric has become nothing but a disappointment for Jessica,” the insider adds.
“His fiscal shortcomings have only become more obvious when the whole family’s going through struggles.”
“He’s been a source of frustration for the entire Simpson family since this all started.”
