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How Alyssa Milano Lost So Much Money

Nicki Swift 12/5/2022 DM
Alyssa Milano attends the 2022 UNICEF Gala at The Glasshouse © Dimitrios Kambouris/Getty Images Alyssa Milano attends the 2022 UNICEF Gala at The Glasshouse

Alyssa Milano has been a professional actor for much of her life. After obtaining smaller roles during her formative years, Milano landed the role as Tony Danza's daughter on the sitcom "Who's the Boss?" The show went on to run for eight seasons and helped solidify Milano's place as one of Hollywood's leading young talents. Years later, Milano opened up about her experience as a child star and has credited her support system for keeping her grounded.

"That was an era when TV child actors just didn't work after their show was over," she told Maxim in 2013 (via USA Today). Adding, "But I have a great family, and I look at a lot of these kids who struggle in the industry and think they'd have struggled no matter what they did."

Milano remains a working actor today and has even stepped behind the camera. In October 2021, the former child star signed a first-look deal with A+E Studios – which will allow her to develop projects for television and streaming platforms. And while it seems as if Milano has always maintained a lucrative career, the actor previously lost a stunning amount of money and had to rebuild her entire life.

Alyssa Milano Sued Her Former Business Manager

Alyssa Milano attends the © Phillip Faraone/Getty Images Alyssa Milano attends the

At one point in time, Alyssa Milano was one of the most recognizable faces on television. In addition to her time on "Who's the Boss," Milano starred in the long-running drama series, "Charmed." The sci-fi series -- which also starred Shannen Doherty, Holly Marie Combs, and later Rose McGowan -- ran from 1998 to 2006.

Despite her extensive time on television, Milano later fell into financial ruin. In June 2017, the actor filed a $10 million lawsuit against her former business manager, Kenneth Hellie, accusing them of mishandling her financial affairs -- according to Us Weekly. "Alyssa's full trust was misplaced in her business managers," her attorney said in a statement. "They failed to discuss with her that they had been making loans with unfavorable terms, and their money was used to provide loans to other Lippe clients. Their managers were also investing money in major investments personally without letting Alyssa know."

Per court documents, Milano alleged that financial turmoil began after her manager failed to properly oversee a home improvement project. As a result, the overall cost for the project greatly exceeded expectations. Milano reportedly fired her team after she began receiving calls from debt collectors.

Alyssa Milano Eventually Settled The Lawsuit

Alyssa Milano attends Sundance's P3P Presents An Old Hollywood Inspired Mother's Day Charity Event © Amanda Edwards/Getty Images Alyssa Milano attends Sundance's P3P Presents An Old Hollywood Inspired Mother's Day Charity Event

After a lengthy two-year battle, Alyssa Milano settled the lawsuit against her former manager. According to People, the "Charmed" actor -- along with her husband, David Bugliari -- settled their $10 million claim for an undisclosed amount. "Both Ms. Milano and Mr. Bugliari are very pleased with the terms of the settlement and are satisfied that it has been resolved," her attorney said in a statement.

Despite the previous blunder, Milano appears to have bounced back financially. According to Celebrity Net Worth, the "Little Italy" star is currently worth $10 million. Per the outlet, much of Milano's earnings come from her time on "Charmed" -- during which she earned a whopping $90,000 per episode. Milano also hosts her own podcast, "Sorry Not Sorry," which aims to address "social, political and cultural issues from the perspective of unapologetic guests." In December 2021, Milano inked a deal with United Talent Agency, and has since starred in Netflix's "Brazen."

Read this next: Former Child Stars Who Met Tragic Fates

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