Kids are expensive — but can they really cost you millions
of dollars a year? If anyone's got the answer, it's Nick Cannon.
Raising a large brood of kids apparently involves an outrageous amount of money. On November 10th,
The U.S. Sun reported just how much the Masked
Singer host shells out yearly to support his ever-expanding family.
"Total number?" "I dunno, don't
put me on the spot. It's like spades, I got eight and a possible nine!"
Following confirmation that one of his partners, Abby De La Rosa, has given birth to his 11th
child, family law attorney and legal expert Goldie Schon revealed a ballpark estimate of
how much he pays to raise his children. It's supposedly in the neighborhood of $3 million,
taking into account a number of factors, including his annual income. Schon said:
"If he is taking home somewhere upward of $5 million a year,
you have to look at what it would take to have the children kept in the lifestyle
of both parents... The lifestyle has to be the same with mom as it is with dad."
When Cannon got wind of this speculation, he confirmed that he was indeed spending
millions on his children. But the kicker is his expenditure on child support is
way beyond what was initially reported. According to Cannon himself, the tabloid
reports were severely underestimating how much he coughs up every year for his growing family.
"I like children, dammit!" "You like procreation!"
While he did not disclose the exact amount, he told The Neighborhood Talk that it's more
than the $3 million estimate. Cannon's revelation is probably a clap back to
those who continually doubt his parenting abilities. Aside from providing adequate
financial support, he insisted that he tries his best to be physically
present for all his children. In June, Cannon told Men's Health:
"Contrary to popular belief, I'm probably engaged throughout my children's day,
more often than the average adult can be. If I'm not physically in the same city with my kids,
I'm talking to them before they go to school via FaceTime and stuff. And then when I am
[in the same city, I'm] driving my kids to school, like, making sure I pick 'em up."
And when it comes to the number of his children,
he said it's not something that he actually thinks about. He told the publication:
"People even often ask, 'Are you gonna have more, you gonna stop?' I'm like,
those are questions that I don't [...] even sit around and think about. I’m just walking in my
purpose and trying to be the best father and best provider I could possibly be."
While Nick Cannon may claim that he pays way more than $3 million a year on child support,
you can't help but wonder where he's getting all of that cash — because just a few years ago
his reported earnings weren't enough to cover that, let alone his own living expenses too.
During his divorce from Mariah Carey in 2016, both parties had to divulge their income for
2014 and Cannon apparently only raked in around $2.5 million that year. Of course, that's nothing
to scoff at. It would seem he's simply not paying the bills through his hosting gigs,
however, because his net worth from all of his cumulative ventures, like his brand Wild 'N Out,
garner him $20 million a year, and Cannon himself has said the brand is worth "half a billion."
After the dissolution of Cannon and Carey's marriage, which lasted from 2008 to 2016,
the terms of their custody settlement were revealed.
"I will shut all this [bleep] down, okay? I will shut all this [bleep] down."
Their twins, Monroe and Moroccan, get $5,000 a month from Cannon paid into a trust. If you're
doing the math, that's about $60,000 a year. Carey doesn't have to contribute to the trust,
but when Cannon has to travel to visit the twins specifically,
she has to foot the bill for his accommodation and his travel costs.
While the details of the support for his other children isn't exactly clear,
The U.S. Sun, which originally sparked the speculation into his financial contributions,
estimated that his newborn baby with Abby De La Rosa — who is lucky Number 11 in the Cannon
line of succession — will most likely cost him $40,000 a month. That's nearly half a million
dollars a year. It's obvious Cannon is a very loving man… but where does he find the time?