How Wendy Williams Really Lost So Much Of Her Money
Wendy Williams' utter and complete downfall started way before the iconic "The Wendy Williams" show came to an end, and a lot of it had to do with her state of health. The celebrated host had been open about dealing with several medical conditions, including Graves' disease — a condition that led to noticeable changes in her appearance, such as protruding eyes — hyperthyroidism, and more. In addition to her health woes, she also claimed to have lost her fortune, revealing in the "Where is Wendy Williams?" documentary that she's in deep financial ruin.
It's hard to fathom how Williams would lose her money quickly, given the substantial income she earned from her eponymous show. Reportedly, she enjoyed a handsome $10 million salary or around $55,000 per episode. But in the documentary, Williams broke down in front of the camera, claiming outright, "I have no money." What's even more curious is that she made similar statements in the past, telling rapper Fat Joe in a 2022 interview that she "only has $2 and nothing else" (via Atlanta Black Star) when she was asked about the rumors that she had no access to her funds. "Somebody stopped giving me my money," she added. "Somebody stopped giving me my American Express... I have no money."
While the specifics of Williams' current financial state remain uncertain, including her total assets and available cash, what's clear now is that she indeed lacks direct access to her money. Apparently, her funds are being managed by someone else.
Wendy is reportedly under a financial guardianship
Wendy Williams' repeated claims that she has zero funds stems from the fact that her money is being legally controlled by a third party. The Hollywood Reporter reported that in 2022, Wells Fargo froze her accounts after deeming that she was an "incapacitated person" and "the victim of undue influence and financial exploitation." This led to a court placing her under financial guardianship, essentially stripping her of the ability to access her own money without the consent of her guardian. This is something that Williams herself is strongly opposed to, cautioning others on the "Where is Wendy Williams?" documentary. "My money is still stuck at Wells Fargo, and I'm going to tell you something. If it happens to me, it could happen to you," she said.
In an attempt to regain control over her finances, Williams challenged the court's ruling, because apparently, the decision for her financial guardianship was heavily influenced by claims from her financial advisor Lori Schiller, who alleged that Williams "was of unsound mind," per documents obtained by People. Wells Fargo also reportedly considered other reports from Williams' camp that she was being exploited.
Still, Williams insisted that the bank "impeded and unlawfully prevented" her access to her own money, but Wells Fargo had defended its decision as an effort to safeguard her financial health. "The financial well-being of our clients is at the heart of everything we do," they noted in a statement to the outlet.
Her son claims she's being exploited by her team
The court documents regarding Wendy Williams' dispute against Wells Fargo did not offer any indication as to who was allegedly exploiting her financially, but her son, Kevin Hunter Jr., had some suspicions. Speaking with The U.S. Sun, Hunter made an insinuation that Williams' team is prioritizing her income generation over her health, which isn't unfounded, as Williams announced that she was launching a podcast when her show was canceled.
"What's been made more important by the people around her is that while her health may not be great, she needs to keep on earning income, and in my opinion that should not be a priority at all," he said. "And whoever has been hired, they are taking advantage of someone who needs to get better." But Will Selby, Williams' jeweler-turned-manager, quickly refuted Hunter's claims, pointing out to ET that there are protective measures in place to prevent anyone from exploiting his mom. "Taking advantage of her for what?" he said. "Everything that she does gets approved by the guardianship... So, no one, even if they wanted to take advantage of her — everything has to get approved by that court."
Ultimately though, Williams wants her money for the benefit of Hunter, who is reportedly still financially dependent on her. "I've got so much money. I want it for my son," she said in the documentary. But as of this writing, there's no way of telling when the court will grant her access, given that she's also been diagnosed with primary progressive aphasia and frontotemporal dementia.