Lady Gaga Splits Earnings With Her Father
Half. That's how much of her earnings Lady Gaga splits with her father, Joe Germanotta.
The Mother Monster and her family are very close. So close, in fact, that she will spend the Thanksgiving holiday in the Upper East Side abode where she grew up, according to the New York Post."She still doesn’t have her own place in the city," a longtime friend of Gaga told the paper. "She and her family are very tight."
Tight enough to share the wealth? Apparently!
Lady Gaga and Papa Gaga split 50 percent of her income via their own LLCs: Team Love Child and Mermaid Music. The only other 50/50 income split that the music industry has seen was that between Elvis Presley and his manager Col. Tom Parker.
The down-the-middle sharing of her income is shocking to industry insiders. A lawyer representing Elvis Costello and Wilco said the deal is ridiculous, saying, "There’s really no justifiable sense to doing a 50/50 deal with anyone in your career, other than someone you’re partners in a band with. Certainly no artist entering a management deal does anything close to that — a commission is usually 15 to 20 percent." That may be true, but this is family.
The fact that Germanotta helped support Gaga while she was a starving artist might be the reason for the split. If you can't trust family, who can you trust?
Also, Papa Germanotta is managing up and coming artists, so Gaga is helping him in his career path now!
Gaga has repeatedly extolled Joe G.'s virtues, saying in a smattering of magazine features that she is "married" to her dad" and that being home in her father's arms made her happy. His disapproval of her fondness for cocaine a few years back also helped her to stop using the drug.