Though his re-emergence into the spotlight has been a bit troubling, Aaron Carter tries to be very open with his fans about the troubles he's experienced. Whether or not his account is true, however, is up for debate. Because over the years, Aaron has repeatedly suggested that it's entirely his parents' fault that he lost more than $20 million and suggested his childhood involved various struggles.
So is it true that Aaron's parents squandered his wealth and ruined his future?
Who Are Aaron Carter's Parents?
A quick dive into Aaron's (and his arguably more famous brother Nick's) background confirms his parents are Jane and Robert Carter, who ran a retirement home when their kids were younger. The family of seven (including Aaron, Nick, and their three sisters) seemed close and happy when they appeared in public.
Years later, however, signs of trouble emerged. One sister, Leslie, passed away in 2012 from an overdose. Robert, AKA Bob, passed away in 2017 after a reported heart attack. Many fans recall that it was after Leslie's passing that Aaron began speaking up about alleged abuse that had taken place at home, and that he has brought up finances multiple times as well.
What Has Aaron Carter Said About His Net Worth?
According to the star himself, Aaron Carter's net worth should have been in the tens of millions by the time he turned 18 and took ownership of his earnings. But, he stated, there was less than $2M when he received the balance, which suggests his parents weren't putting in the 15 percent of his earnings that they had agreed to (and were apparently bound to by law).
At other times, Aaron Carter has stated his net worth in his early career earned him around $200M, beating out his Backstreet Boys brother. But in recent years, he explained that he had filed bankruptcy and had both his and his parents' debt canceled (does it even work that way?).
After that, in 2019, came his Go Fund Me to finance a move out of state. But in between all that commentary, what did Aaron Carter's parents say about his claims?
Aaron Carter's Parents Spoke Out
Aaron Carter's mom and dad may not have been as vocal as their celebrity son in speaking out, but there are various quotes from them about Aaron's claims and his finances. Reporting on the family's earlier troubles, People quoted Bob Carter as saying that the family had "had some very tough times" due to his sons' fame.
Further, the patriarch alleged that Aaron's managers were turning him against his dad, suggesting that Bob was the reason Aaron was "going broke."
To that, Bob Carter noted, "It's not true; I don't live off Aaron's money." However, it seems to be true that Bob was in charge of managing a younger Aaron's money, along with his wife, and that their handling of the money (or maybe their team's handling of it?) led to Aaron having $1.3M of back taxes owed for the year 2003's income -- when he was sixteen.
Later, Bob gave a statement when Aaron was arrested for possession of an illicit substance, saying he had denied that his youngest son had a problem for a long time, and felt "hurt and betrayed." Nick and Leslie have had similar struggles with alcohol and prescriptions, People noted, and Nick has reflected similarly on the "toxic" environment he and his siblings grew up in.
Who Really Lost Aaron Carter's Net Worth?
It's not crystal clear who actually spent Aaron Carter's money, or really where it went at all. Is it possible that Aaron is lying, and that he had a ton of money handed to him at age 18, and he spent it all? Or maybe he never made as much money as he thought he did. After all, even if he generated $200M, there are taxes to pay on that, bills to pay for Aaron's team, plus all the fees tied up in the actual management of his career and creation of his music and concerts.
But over the years, multiple Carter kids have spoken out about their difficult childhoods, including Nick and Aaron in the spotlight, and one of the children died because of their personal struggles. Most people would probably agree that with three out of the five kids in the family struggling with addiction, the commonality can probably be traced back to something at home.
Regardless, Aaron, at least, has maintained a relationship with his mom since his dad's passing, which does suggest that even if she and Bob blew their son's funds, Aaron has apparently forgiven her for it.