Cher – Friends Claim Singer’s $360 Million Fortune Is Dwindling As She Splurges On Boyfriend A.E.

Cher, AE

Cher – Friends Claim Singer’s $360 Million Fortune Is Dwindling As She Splurges On Boyfriend A.E.

It looks like Cher’s friends are concerned that the singer is spending too much money on her new beau.

According to sources close to the situation, Cher, 76, has been spending big bucks on boyfriend Alexander “A.E.” Edwards and supporting his lavish lifestyle. An insider said the singer’s close friends are growing concerned that she’s wasting her money.

A source said,

“Cher’s letting her boyfriend pull all the strings. It’s all about A.E. and what he wants. She’s been sucked into his lifestyle of parties, late nights, and drinking, and she’s neglecting her friends — mainly because they’re horrified over her behavior.”

Cher, AE

While rumors are swirling that Cher is splurging on her man, it appears A.E. is doing pretty well for himself as the vice president of artists and repertoire at Def Jam Recordings with a reported salary of $500,000. While he’s worked with many stars including Jay-Z, Mariah Carey, Rihanna, and Kanye West, his actual net worth is estimated at a mere $2 million.

Despite this, it appears Cher doesn’t mind swiping her credit card for A.E.

A source said,

“Cher’s splurging on gifts for her man and when he sees something he likes or wants to purchase, Cher’s Amex comes out…She likes dressing him up in the best clothes. She pays for dinner and limos too. But all this expense adds up and it’s burning a hole through her bank account.”

An insider also shared that Cher is no longer cautious with how she spends her money.

“Cher’s still a wealthy woman with hundreds of millions to her name, but even rich celebs can go broke if they don’t manager their money wisely. And the fear is that could happen to Cher. She used to be a penny-pitcher, but she’s thrown all care out the window.”

Cher’s friends aren’t the only ones who disapprove of her relationship. Her sons Chaz Bono, 53, and Elijah Blue Allman, 46 are not on board and have been reportedly distancing themselves from their mom due to Alexander. Cher is so hurt by her children’s disapproval that she’s allegedly considering cutting them out of her $360 million will.

According to a source,