Andrew M Wallet Britney Spears

Meet Andrew M Wallet: The man ‘paid $426,000 per year’ to control Britney’s finances

Of course his surname is Wallet

Britney Spears’ memoir The Woman In Me is filled with revelations about the singer’s life in the spotlight, including details of her controversial conservatorship, which she was placed under from 2008 until 2021. And as fans race through the pages of her book, one man’s name is once again all over the Twitter timeline: Andrew M Wallet— the estate manager who was paid $426,000 per year to control Britney’s finances.

“I’m sorry has anyone addressed the fact that this man’s name is literally ‘Andrew Wallet,'” wrote one account. “Using her money to pay him to restrict her from not using her money is wild,” added another. “wtf is his job again ??” So, in case you’re also confused about how Andrew M Wallet managed to earn over $400k a year from Britney and what he actually did, here’s everything you need to know: 

Wait, so who actually is Andrew M Wallet?

Andrew Wallet was appointed to help Britney’s dad, Jamie Spears, to manage her estate and all her financial decisions after the court gave Jamie control of Britney’s personal and financial life. “The conservatorship stripped me of my womanhood, made me into a child,” Britney says in her memoir.

Britney’s attorney Adam Streisand claimed when the conservatorship was put in place that Andrew didn’t have the expertise to manage Britney’s then-$40 million estate, which spanned 15 separate entities. But he was appointed anyway. He later claimed he’d made Britney’s estate $20 million with “extraordinary skill”.

And how much was Andrew paid to run Britney’s estate?

After claiming he’d made Britney’s estate money, Andrew asked (and was given) a raise, which brought his compensation to $426,000 per year. According to California law, conservators can be compensated but Britney’s Grampodcast host Tess Barker said the massive raise didn’t feel right. “It didn’t seem that being someone’s conservator should be a for-profit position,” they said.

Andrew claims the decision was fair: “What I was paid was more than fair for what I was asked to do,” he said. “In that world, professionals doing what I was doing would be getting over $1 million a year.”

So, where is Andrew Wallet now?

When Britney cancelled her Las Vegas residency in 2019, Andrew suddenly resigned. He never gave a reason for his resignation, according to Us Weekly, but in court filings Andrew said he wanted to be removed as soon as possible because the “conservatorship is engaged in numerous ongoing business activities requiring immediate attention.”

Britney’s dad Jamie filed a petition to reappoint Andrew but withdrew it in October 2020. “Britney to this day does not have the capacity to sign documents and make decisions for herself,” Andrew claimed in a Daily Mail article that month. “Protecting her assets is very important and for that the conservatorship has to stay in place because she is susceptible to undue influences.”

Andrew claimed Britney could be in a conservatorship for the rest of her life. She was freed from the court-ordered guardianship a year and a month later.

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Featured image credit via Sky Documentaries