Rappers who pretended to be rich but are actually flat broke

[LISICKI]

Financial Juneteenth | Weak-Azz-Negroes: 9 Rappers who pretended to be rich, but were actually flat broke

You see rappers on TV shining like crazy and bragging about how much money they have. But most of this is a really ugly lie and one that makes black people look as ignorant as any minstrel show in the history of our country. You’ve seen what rappers say about themselves on TV, but here’s some truth about how your favorite rapper is probably going broke right now:

1) Ludacris was in a custody battle with the mother of his child and revealed in court filings that he earned only $55,000 over the previous year. That’s hardly the paycheck of a baller. Yes, that was $55,000 and yes, that was 2013. Check the link if you don’t believe us.

2) Lil Bow Wow was in court after his Bentley was repossessed. He revealed that he had only $1,500 in his bank account. He now has a job on BET’s 106 & Park, but this is probably not enough money to get him out of debt. According to Celebrity Net Worth, Bow Wow owes $90,000 to the IRS and another $280,000 to a luxury car leasing company. So, while the depth of his financial distress remains unclear, it’s very clear that he’s living on the edge financially.

3) Xzibit – former host of the MTV show, “Pimp My Ride,” filed bankruptcy after owing over $1 million dollars to the IRS. He hasn’t had a hit record since Bobby and Whitney were in love with each other. He has filed bankruptcy twice since 2009.

4) Method Man was arrested for failing to pay taxes back in 2011. He resolved the matter, but remains in debt. He also keeps trying to make a comeback, but it’s just not working out.

5) Fat Joe – went to prison after pleading guilty to tax evasion after owing over a million dollars to the IRS.

6) Lil Flip went to court and told the judge that he can’t pay more than $500 per month in child support. According to most estimates, this means that he isn’t earning more than about $3,000 per month. He’d be better off collecting trash for a living.

7) Ja Rule went to prison for two years for tax evasion after owing millions to the IRS. He gets out soon, and will spend the rest of his life paying off the debt. He does have a cookbook coming out, so maybe that will make him a billionaire.

8) Beanie Sigel – He used to rap next to Jay-Z, but he too went to prison for drug possession and also had serious trouble with the IRS. Those lawyers can be expensive when you’re committing your life to “keeping it real.”

9) Young Buck from G-Unit went bankrupt and lost his home, forcing him to sell his jewelry and everything else. If you listen to any of Buck’s songs, you’ll hear that he usually rapped about how much money he had and even made fun of other rappers who’ve gone broke. Now, he’ll just be making jokes about himself; that’s if anybody ever listens to his music again.

Mark Dice does an interesting video on the topic. He comes off a bit condescending and maybe even racist, so that’s tough to swallow. But if you listen to the gist of what he’s saying, he’s speaking quite a bit of truth about the buffoonery and financial irresponsibility that is prevalent in hip-hop music on the radio. Dice states that many of the artists on television are actors, and that the seemingly authentic lifestyle that young people are emulating is merely a facade. What’s most pathetic is that many of the artists selling this imagery to teenagers are in their mid to late thirties, so they’re a little too grown to be thinking and dressing like kids.

It’s actually a little sad when you think about it. Maybe we can do better for the next generation: Let’s teach our kids how to be true ballers by going to college and running their own businesses, instead of being pawns for white people who think we’re stupid. We have enough rappers and athletes already.

 

[SC_408]

All of them are believable, but damn Ludacris? I figure he would have been making plenty money off of the Fast and Furious series itself.

 

[StillHustlin]

filing bankruptcy, tax evading and or hiding assets from the IRS, and or claiming you're broke during custody battles doesn't mean you are actually broke, it means you are not a fool that wants to be parted from your money. @LISICKI aren't you Jewish breh? Then you know the game, cmon son...

 

[The Bay Area]

The problem in some cases regarding child support is to make yourself a LLC, or S corporation where child support cannot pierce the corporate veil...your business is a separate entity and you have a salary or wages that you have stated as your income...child support can only take a percentage of those wages...I don't know why these athletes, rappers etc get raped the way they do?

 

[BUTCHER 206]

Is there something I don't know about being ultra wealthy? Do they not allow you to buy stuff outright with cash once it costs a certain amount? Why are entertainers and athletes always getting their stuff repossessed.... buy the fucking shit don't get jewed for three times the cost by loans and credit wtf then still have to give it back

I've lived by one simple rule, if you can't buy it with cash right then you don't need it. Sure I'm broke and don't own anything cool, but its kept me debt free

 

[gimmefreemusic]

If you're dumb enough to blow millions you deserve to be broke.

 

[ALL BOUT CHICKEN]

Those rappers are not gangsta and their music lacks strength.

 

[ESCOBAR 92113]

I think the title of the article is misleading. I'm assuming that every rapper named made money at some point. They all had a hit movie, tv show or album. Being stupid with finances is a bit different than being a straight liar. I was expecting to read someone was living with their parents while frontin about 5 car garages and shit

 

[LiterACola]

this article should have been called Stealing Peoples Money: The Internal Revenue Service Story

 

[LiterACola]

my rule of thumb is to not believe a column title Weak Azz Negroez

 

[short]

this article should have been called Stealing Peoples Money: The Internal Revenue Service Story

when the irs forces everybody to take part in the income tax extortion scam its easy for these millionaires to go broke. the irs also steals wages and social security checks which they dont deserve. im sure the irs could just write off the money allegedly owed. the irs steals 45% and rappers agents steal another 10%. the "friends" these rappers and athletes have are just leechers. soon as the money dries up they vanish with the quickness

 

[StillHustlin]

one of em is worth 75 milli? far from broke and if that aint rich...



Mark Dice is not a valid source for anything

 

[The Bay Area]

one of em is worth 75 milli? far from broke and if that aint rich...

Being "worth" X amount of dollars...example...I own business (A) that brings in $150,000 a year...I have an endorsement that pays...$50,000 per year...so my total worth is $200,000 annually...BUT...what are my expenses to operate the $150,000 operation...what commitments have I obligated myself to like houses, cars, child support that might eclipse my annual income that has now locked me in debt...of let's say over $100,000 past my annual. Not to mention what the IRS will take from that $200,000...so yeah you can be "worth" whatever and still be broke if your debt is higher. Now if your talking about "net" income after all debts and frivolous spending are factored and you are still seeing 30% of your yearly annual then you good. So whoever is worth $70 million I wonder if that is before/ after all deductions happen?

 

[BUTCHER 206]

Being "worth" X amount of dollars...example...I own business (A) that brings in $150,000 a year...I have an endorsement that pays...$50,000 per year...so my total worth is $200 million annually...BUT...what are my expenses to operate the $150,000 operation...what commitments have I obligated myself to like houses, cars, child support that might eclipse my annual income that has now locked me in debt...of let's say over $100,000 past my annual. Not to mention what the IRS will take from that $250,000...so yeah you can be "worth" whatever and still be broke if your debt is higher. Now if your talking about "net" income after all debts and frivolous spending are factored and you are still seeing 30% of your yearly annual then you good. So whoever is worth $70 million I wonder if that is before/ after all deductions happen?

How does making 200,000 a year mean you are worth 200 million a year

 

[milkky]

Ludacris was a bad example, he obviously doesn't belong wi these financially irresponsible "rappers", he owns his own cognac, has sold millions of albums and acted in NUMEROUS movies in Hollywood, usually he's towards the top of hip hops highest earners.. Like some one said, he obviously is playing the Broke card towards his ex in a child support dispute, that's a far cry from dodging prison time to IRS tax evasion..

 

[The Bay Area]

How does making 200,000 a year mean you are worth 200 million a year

I edited that part as soon as I saw the mistake and corrected it to $200,000

 

[StillHustlin]

So whoever is worth $70 million I wonder if that is before/ after all deductions happen?

I don't disagree with you, I'm tellin you he legally pretending to be broke though and there is nothin wrong w/ it

Its called corporate personhood and although I don't think corporations should have the same rights as people, as long as the game is in play it should be played.

I'm far from rich but I also have had an S Corp and have an LLC now and there are many benefits to having it, I agree.

 

[The Bay Area]

I don't disagree with you, I'm tellin you he legally pretending to be broke though and there is nothin wrong w/ it

Yeah he probably is trying to hide it...it's hard to see Ludacris being broke after ALL the shit you see him doing. Ludacris filled that he made $55,000 so this may be the salary he gives himself if he is established as a corp. So he might fall under the example I previously gave. It's smart business...don't let them hoes use the court system to rape you---->

1) Ludacris was in a custody battle with the mother of his child and revealed in court filings that he earned only $55,000 over the previous year. That’s hardly the paycheck of a baller. Yes, that was $55,000 and yes, that was 2013. Check the link if you don’t believe us.

 

[short]

the income tax code is a ponzi scheme that only benifits the rich and oligarchies like apple or walmart who never pay taxes

 

[jake921660]

maybe you should move to another country that doesnt charge taxes then