Exactly How Bill Cosby And His Wife Found Themselves In Financial Turmoil After His Arrest

Highlights

• Bill Cosby and his wife Camille are facing financial turmoil.
• The couple has been hit with various financial setbacks, including owing millions in property taxes.
• Lawsuits from Cosby's assault victims have further drained his finances.

Few celebrities have had a more tumultuous career than Bill Cosby. The comedian was widely seen as a trailblazer during the 1970s and 80s, but the last decade has revealed a much more sinister side. Cosby was accused of heinous things by numerous victims and was sentenced to prison on charges of aggravated indecent exposure in 2018.

Cosby's sentence was overturned in 2021, but his troubles have not stopped. While technically a free man, the former star of The Cosby Show has spent the last few years in dire financial straits due to the lavish lifestyle that he and his wife Camille have grown accustomed to. The thing is, the couple fails to generate the astronomical amounts of money that they once did.

Bill Cosby And His Wife Are In Financial Turmoil Because They Refuse To Fire Any Of Their Staff

Bill Cosby has tried to downsize his cost of living, but Radar Online claims that Camille Cosby is less keen on letting things go. The outlet reports that Mrs. Cosby refuses to fire the staffers and chefs that have worked for her for decades, despite the fact that these employees have not been paid for months, and the celebrity couple do not have the means to pay them in the immediate future.

A source for Radar Online went on to say that Bill Cosby is "frustrated" over the matter, and wants to let the staffers go, as he's unable to "live that lifestyle," but Camille won't budge on the matter. The source went as far as to label the topic a "major issue" in their marriage.

This isn't the first time that rumors of marital problems have surfaced for the Cosby's. During Bill's prison stint, many claimed that Camille would leave the famous comedian, but the family spokesperson, Andrew Wyatt, issued a statement to People Magazine that laid the matter to rest:

"The accusations they have made in their tabloid are absolutely false. Mrs. and Mr. Cosby are not getting divorced and she’s with him in the Philadelphia home as we speak. No issues in the marriage, no issues with the children. These children are grown women in their 40s and 50s. These are not kids. These are not little kids running away from their father."

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Steadfast as they might be in their commitment to their marriage, Bill and Camille Cosby have been hit with various financial setbacks since the former was released from prison.

Bill Cosby And His Wife Have Been Forced To Pay Millions In Property Taxes To The IRS Since 2019

Bill Cosby was, for a time, one of the wealthiest comedians in Hollywood. His estimated net worth was $400 million, according to Celebrity Net Worth, which was due to comedy tours and movie roles, as well as residuals from "The Cosby Show" and smart real estate deals. It has gone down drastically in the last decade, however, as Celebrity Net Worth notes the listed amount does not reflect the most recent developments in Bill and Camille's lives:

"The future of his wealth is not yet known. Cosby reportedly spent millions of dollars on various legal defenses and could be liable for millions of dollars in future damages."

Bill and Camille Cosby have also been subject to various tax liens since 2019. The Blast obtained documents explaining that the comedian owed a combined $650,000 for failure to pay property taxes during his time in prison. He owed $88,566.88 for 2019 and $559,573.77 for the year 2020. He also had to pay $1.8 million in back taxes from the year 2015.

Between owing the IRS and refusing to fire staff, Bill and Camille Cosby have been forced to liquidate their assets and take out second mortgages on their various properties.

According to Radar Online, the couple have also resorted to selling parts of their art collection, which was valued at over $275 million. "It's a bad situation," claimed the outlet's insider. "And it's never going to end."

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Bill Cosby And His Wife Have Continued To Lose Money Due To Lawsuits From Cosby's Assault Victims

Any hopes Bill Cosby had of returning to stability were dashed in June 2023, when several victims came forth and sued the comedian on grounds of sexual assault.

Janice Dickinson, Lise Lotte-Lublin, Janice Baker-Kinney, Rebecca Cooper, Linda Kirkpatrick, Pam Joy Abeyta, Angela Leslie, Heidi Thomas, and Lili Bernard, were named in the suit, and according to The Blast, they claimed that Cosby "drugged or attempted to drug each of these women before sexually assaulting them."

This is not the only time Cosby has been subject to legal action since he's tried to put his life back together. AP News reports that a lawsuit was filed by a California woman who said that Cosby sexually abused her at the Playboy Mansion when she was 16.

The case was settled out of court in 2022, but Cosby had to pay $500,000. This amount does not take into account the $3.38 million that the comedian paid to Andrea Constand in 2006, or the defamation suit he settled against seven women for an undisclosed amount in 2019, according to NBC.

Even if Cosby were to liquidate all his assets, and minimize his current living conditions, it's unclear whether he will have enough of an income to contend with the massive fees that are regularly handed him. CBS News revealed that the comedian owed $2.75 million in legal fees after his release from prison, and attempts to dispute the bill as "egregious" were rejected by a California judge.

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As long as Cosby is forced to sift through legal fees and accusations from past victims, the comedian will be unable to get on solid ground and provide the kind of lavish lifestyle that he and his wife Camille established in the 1980s. Tellingly, the fees and accusations will likely go on for the rest of his life.

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