Brad and Angelina spend $10 million on their kids
That's a big, big number. A very big number. Relatively speaking, though, Brangelina spend about what most US households do raising children.
This post comes from Caroline Howard at partner site Forbes.com.
By anyone's measure (except for Jim Bob and Michelle Duggar), it is no small feat, raising six children. But somehow, with the help of an army of tutors, nannies, chefs and private transportation (the kind with tinted windows or that fly), Angelina Jolie and Brad Pitt are a well-documented success story.
Still, you have to wonder how much it really costs. The answer, according to Bonnie Fuller's HollyBaby, who credits In Touch magazine, is an awesome figure: "They spend about $10 million a year on the kids."
But for some perspective, in April, Jolie signed a $10 million contract with Louis Vuitton. Following past Vuitton beauties such as Madonna and Jennifer Lopez, the 35-year-old mom will appear in a series of print ads this summer, photographed by the brilliant Annie Leibovitz.
Jolie landed at No. 18 on the 2010 Forbes Celebrity 100 Power List, with a salary of $20 million and 38 magazine covers. Pitt followed at No. 30, also banking $20 million.
Let's do the math and compare the Jolie-Pitts to an average U.S. household. The celebrity couple earned $40 million last year and allegedly spent 25% on "child-rearing." That includes food, transportation, health care, children’s clothing, child care and education and miscellaneous goods and services.
In 2009 figures from the U.S. Department of Agriculture, on average, two-parent, two-child households in the lowest income group (less than $56,600) spent 25% of their before-tax income on kids; those in the middle-income group (up to $98,000) spent 16%; and those in the highest group (above $98,000), 12%.
Jolie and Pitt are not, relatively speaking, spending an outsize amount on their children. They supposedly pay out the same as what 65% of Americans would. (See, they are Just Like Us!) And two times what the highest income bracket in the U.S. drops -– on three times as many kids. Post continues after video.
If you consider that there are six minds to educate, six mouths to feed, six bodies to clothe and move around the globe, etc., let's give Brangelina some credit. In an over-the-top, annoying kind of way, of course.
To understand exactly how $10 million fits into the lives of Maddox, 9; Pax, 7; Zahara, 6; Shiloh, 4; and twins Vivienne and Knox, 2; refer to this annual budget, as shared by HollyBaby:
- $5 million on private jets. Brad and Angelina spend about $5 million on private jets, not including the cost of first-class tickets, so that they can take their family with them as they travel.
- $1 million-plus on private tutors. "They spend more than a million on private tutors who travel around the world with them," says the source. That doesn’t include the tuition of the private schools.
- $900,000 on nannies for each of their children. The nannies are with their kids all of the time.
- $96,000 for clothes. "They donate millions a year to charity, so that’s how they justify spending so much on their kids," says the source.
- $36,000 grocery bill. They dish out about $3,000 per month on groceries. Eating out or ordering from in-room dining while at hotels doesn't figure in to this number.
- Birthday parties. Brad and Angie spent $7,000 to charter a private boat for Paxs seventh birthday. They have also rented out a zoo for an event.
- Hotel bills. "They once spent $500,000 for one stay at the Waldorf," notes the source.
- Private cars. At $600 a day, Brad and Angelina regularly hire private SUVs to dive their kids around for the day.
More on Forbes.com and MSN Money:
I think the break down is reasonable for what they make. They take the children with them when they travel and they make sure they have tutors. At least they don't do what many wealthy people do and leave the kids at home with the help while they travel so that they rarely see them.
In Touch magazine is well known for it's lack of credibility - anyone getting inflamed and/or offended by irresponsible 'journalism' with bogus figures (do your homework, inflamed people!) really needs to pay more attention to documented facts about important things happening in the world that really are worth getting riled up about.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Tired of your wallet taking a beating at the grocery store? Here are some creative ways to save big on food costs.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'