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Jessica Simpson Is Ready to ‘Take Control of Her Career’ and ‘New Challenges’ After Going Broke
Jessica Simpson’s 2020 memoir, Open Book, lived up to the title. The singer, 43, dished about childhood sexual abuse, struggles with her weight, alcohol addiction, an emotional affair with Johnny Knoxville, as well as famous exes John Mayer and Nick Lachey.
It may have seemed she had little left to reveal, but Jessica isn’t done spilling tea. In a July interview with Bustle, she talked about everything from bowel movements and weight loss drugs to moving to Nashville and pitching a reality TV show. But the most shocking bombshell? Nearly a decade after her eponymous fashion brand, Jessica Simpson Collection, was valued at $1 billion, the star herself is broke.
“I did have to ask my mother for money not too long ago,” Jessica admitted to the online magazine, noting that she now shops at discount retailer Home Goods — while also joking that she might have to sell some of her jewelry to stay afloat. “I don’t have it in me to borrow money from my mother [again].”
The reason for her financial crisis: She and mom- business partner Tina Simpson spent $54 million to buy back her namesake company in 2021, after previously selling 63 percent of ownership. Jessica and husband Eric Johnson even put their six-bedroom Hidden Hills, Calif., home — which they purchased for $11.5 million in 2013 — up as collateral to secure the deal. Then, less than 12 months later, the women took out a $67 million loan, in part to help expand the Collection into hair- care, makeup, skincare and water.
It’s now led to instances like a recent one, where Louis Vuitton had to call Tina for spending authorization when Jessica stopped in to shop. “She did reach out to me to borrow money,” Tina, 63, confirmed to Bustle, adding that she has given Jessica a loan but advised her famous daughter to “control your spending a little bit better” and not live “as extravagantly.” “I told her: ‘You’re just going to have to tighten up your belt a little bit.”
But Jessica does have other revenue avenues in the works. She’s making a long-awaited return to music (her last album was released in 2010) and shopping a docuseries about the process. “She’s ready to face new challenges and take control of her career,” a source exclusively tells Life & Style. “It’s scary and thrilling at the same time.”
Luckily, Jessica has the encouragement of her family — and not just Tina. She and retired NFL pro Eric, 43, have taken steps to relocate with kids Maxwell, 11, Ace, 10, and Birdie, 4, to Music City, aka Nashville, to facilitate her singing comeback. “Jessica is feeling confident and supported,” says the source. “She wants to be a good example and teach her children to follow their dreams.”
