Barbra Streisand Takes A $1.3 Million Bath. But Not The Good Kind Of Bath

Count Barbra Streisand among the many victims of the global financial meltdown.

Internal Revenue Service records show that the Hollywood star’s charitable foundation saw its investment portfolio take a whopping $1.3 million hit as a result of the Wall Street collapse. The Barbra Streisand Foundation disclosed its loss in IRS documents filed earlier this year (the tax return covers calendar year 2008, the most recent period for which Streisand has provided a financial accounting).

The bulk of the loss came from two equity funds, though the star’s foundation did take a $160,000 bath on Ford Motor Credit notes.

By comparison, Michael Douglas’s foundation took a minor hit. The actor’s Fund for the Future reported a $257,866 stock market loss on its tax return covering the fiscal year ending March 31, 2009.

Douglas, reprising his role as arbitrage king Gordon Gekko, is starring in the sequel to Oliver Stone’s “Wall Street,” which opens in September.

Comments (17)

I love these comments about Ms. Streisand. So reasonable, so open-minded, so kind-hearted, so sympathetic, and so much nonsense toward someone who has devoted so much of herself to charity for others.
Streisand doesn't do one damn thing for anybody but herself and if the IRS was competent they would know this. I'm glad she "took a bath" it couldn't happened to a "better person"
This article does a poor job of qualifying "the bath" - i.e. if the foundation is worth 12 million then a 1.3 million loss is not a problem, if the foundation is worth 2.5 million then yes this was a big problem. If "the smoking gun" wants to do some real reporting, then give us the value of the foundation. Maybe they knew the number and decided not to report it because the headline wouldn't have as much impact.
See Guidestar article after your post. At end of 2008, the foundation appeared to be worth $5.7 million.
Well, Barbra has been mugged. How long will she remain a liberal Democrat?
Actually, for Babs this was the kind of bath she desperately was in need of!
couldn't happen to a more deserving bitch. she is the epitome of the scum that tells the world how to behave and does just the opposite. the sooner she departs this world, the better.Limousine liberal, private jet phony.