Turns out third time’s not the charm for country star Billy Ray Cyrus , who was already panicking about his dwindling finances before divorce No. 3. Things went south with latest wife, Firerose , and now he’s terrified this latest split will put him so deep in the hole he may never be able to climb out again. Needless to say, he’s looking for ways to raise cash in a hurry.
“He’s going through an ugly divorce and probably blew a lot of money while married to Firerose,” an insider dished exclusively to In Touch . “Now he’s panicked and desperate to get a show on the road and build up savings.”
In addition to trying to raise more capital, “He’s constantly watching his wallet and concerned he may be on a downward trajectory that’s not easy to fix,” the insider continued. Luckily, Billy Ray, 62, has made plenty of friends and connections in the music industry during his 35-year tenure in the spotlight.
“He has confidence in his own abilities, but he’ll have to suck up to his country buddies to get some new gigs in the works.”
Billy Ray first teamed up with Firerose, 36, for a songwriting collaboration in 2021. She confirmed their romance in August 2022 on the “Achy Breaky Heart” singer’s birthday.
What Happened Between Miley Cyrus and Billy Ray Cyrus? Inside Their Feud Firerose posted a picture of an engagement ring in September 2022 and the couple officially wed a little over a year later in October 2023.
Just seven months into their marriage, things apparently weren’t fantastic between the two artists, prompting Billy Ray to file for divorce in May .
“Divorce has knocked him sideways and is costing lots in legal fees. Firerose is pushing for a payoff and he’s fighting her,” the insider told In Touch .
Billy Ray’s divorce from previous wife of 24 years, Tish Cyrus , in 2023, coupled with a fresh split from wife No. 3 brought the singer’s net worth down a staggering $10 million in one year , according to the insider. While he reportedly still has $10 million in the bank, he’s concerned about how long that will last him.
“ Most people don’t realize how dire things are for him, ” the source continued. “He likes to think of himself as a big celebrity, but sadly his bank account is draining.”
Pauly D, Billy Ray Cyrus, and More Famous Men With Not-So-Secret Love Children! Billy Ray’s last huge hit came in 2019 when he was featured on the remix of Lil Nas X ’s song “Old Town Road”. It became the longest-running No. 1 single in Billboard Hot 100 history and made an alleged $15 million, though it’s unclear how much of that chunk of change went directly to Billy Ray.
Besides music, the star’s acting career is still kicking. Billy Ray starred in Christmas in Paradise in 2022 and played himself in Dolly Parton 's NBC TV movie Dolly Parton’s Mountain Magic Christmas .
Despite all this recent activity, the country legend’s coffers are still running dry. Perhaps it’s time he returns to where his bread is buttered.
“He better get out there and make some music,” the source told In Touch .
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