Rappers Who Went Broke with Completely Dumb Decisions
- Published on: Monday, December 2, 2019
- Who are the rappers that have actually gone broke? Birdman is going through a bankruptcy and he's about to lose his Miami mansion! Also, did you guys know that DMX has gone through multiple bankruptcies?! Find out about the most famous rappers who've actually gone broke in this video!
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Here are rappers who have gone broke! Wait until you hear what exactly Birdman decided to steal back from his mansion!
10 - Bow Wow
Is it surprising to anyone that Bow Wow is on this list? Considering he started releasing music when he was 13, you’d think he'd have a decent amount of cash saved up over the years. But, as we’ve said many times on this channel, what’s important is to keep what you earn! During a child custody case where he was ordered to pay $3,000 dollars a month in child support, Bow Wow informed the court he made just $4,000 a month and only had $1,500 in his bank account. He also merely leased a relatively modest car. That might be because four years earlier, he had leased a Ferrari F430 and within months was behind on payments. However, the day after the hearing where he told the court that he’s broke, he did sign on to be one of the new co-hosts of the now canceled BET show, 106 & Park. Later on, he even gave a statement saying that he’s a smart guy and until you see him on a corner begging for money, he’s not broke. Well, I guess that’s one way of admitting lying to a judge in court! The funniest thing with Bow Wow probably still has got to be back in 2017. He posted a picture of a private jet on his Instagram with a caption that heavily implied it was his PJ that he chartered to New York. But the photo was actually a photo from a website. AND someone saw him flying in economy that same day and posted the picture to Twitter! In an interesting twist, he recently called money "evil" and claimed he would give his money away to fans. It doesn’t take a genius to figure out why Bow Wow’s career fizzled out!
9 - Scott Storch
Okay, we know that Scott Storch isn’t a rapper. But, he WAS a producer for many artists such as Justin Timberlake, Beyoncé, and Dr. Dre. And the way he blew through his $70 million dollar fortune is incredible. In 2006 he had his 70 million dollars. By 2009, he filed for bankruptcy claiming just $3,600 in assets! Storch’s lavish lifestyle included a garage with 13 cars, including a $600,000 Mercedes SLR McLaren, a $500,000 Mercedes Maybach, and a $1.7 million black Bugatti Veyron. He also bought a $20 million dollar yacht, a $10 million mansion and a $3 million 34-carat diamond pinky ring! Apparently in 2006, he started making friends in Hollywood. And with those friends came the partying. He basically withdrew from making music and focused on partying with his friends at his mansion! In his estimation, at one point, he blew through 30 million dollars in a 6 month span! However, the good news is, today Scott Storch is back in the studio and he’s back on his feet making music.
8 - DMX
In 2016, DMX filed for bankruptcy for not the first, or for the second, but for the third time since 2009! He owed creditors over $2 million dollars and filed for Chapter 13 bankruptcy as an attempt to save his New York home. This is a guy who’s had FIVE number 1 albums! So how did he get so broke? Well, he has 15 kids with nine different women. That’s definitely a big part to why he’s had financial issues despite being probably the hottest rapper in the late 90’s. And then there’s all the crazy legal issues he’s had for all the crazy things he’s done. The craziest story has to be when he pretended that he was a Federal agent and tried to carjack someone! DMX filed for bankruptcy first in 2009, and again in 2013. In 2016, DMX filed for bankruptcy again. He claimed that he had no assets at all except for his house. And he had absolutely no money in his bank account. He also claimed that he doesn't own stakes in copyrights or trademarks for any of his music. Finally, in 2018, the IRS came for the $2.29 million he owed them. He ended up spending a year in jail for tax evasion.