Lavish events, personal jets, luxurious manufacturers, mansions, and flashy costly vehicles are a few of the few issues that come to thoughts when one imagines rich celebrities’ lives, particularly rappers. This style of music tends to anticipate sure costly life. However, apparently, this hard-earned cash may vanish inside the blink of an eye fixed for varied causes. So, who’s the poorest rapper?
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You can be shocked how some large names within the hip-hop trade have ended up being utterly broke. Some misplaced their cash by means of rogue document offers, poor mismanagement of funds, and residing a high-end life. Elsewhere, some discovered themselves on the mistaken aspect of the IRS. So, who’s the poorest well-known rapper?
Prime 10 bankrupt hip hop artists
As a musician, while you write songs about how a lot cash you earn, it is just truthful that you simply additionally show the identical lifestyle. For a median individual, these perks can solely stay a dream! So, are there broke rappers who act wealthy? This list options the poorest rappers in 2022 who as soon as lived a excessive life earlier than finally going broke.
10. Ja Rule
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Ja Rule is a rapper who was common within the early 2000s. He’s recognized for a few of his hit songs, equivalent to Mesmerize and All the time on Time. He was swimming in his successful career and earned a fortune however by some means failed to say his revenue. On account of this, the IRS saddled him with $1.1 million.
The rapper was additionally sentenced to 2 years and 4 months in jail for tax evasion. When his followers thought his woes had been over, the IRS claimed $2 million again in taxes in 2019.
9. Nelly
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Nelly is without doubt one of the most well-known rappers within the 2000s. The rapper was on the high of his profession for some motive earlier than his world began crumbling down. His first album, Country Grammar, bought greater than 10 million copies within the U.S. His different common hit songs embrace Sizzling in Herre, Dilemma, Experience wit Me, and Air Pressure Ones.
Hassle got here knocking when the rapper didn’t declare and pay his taxes, and like several individual in his footwear, the IRS got here knocking and slapped him with an enormous tax lien. It was revealed that he owed taxes as much as $2.4 million. Earlier than this, he had simply paid $149,511 to the Missouri Division of Income in unpaid taxes.
8. DMX
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The rapper had loved an extended and profitable profession; nonetheless, it was all short-lived as Uncle Sam appeared within the image. DMX went to the extent of attempting to file for chapter however was unsuccessful.
He was charged with varied counts of fraud for failing to file his revenue and declare his taxes from 2010 and 2015. In consequence, he needed to half with $2.29 million and was sentenced to jail for one yr for tax evasion.
7. Bow Wow
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Lil’ Bow Wow was fairly successful within the 2000s as nicely. His profession began at 13, and he ventured into appearing. He was a darling to many, particularly for his hit track Let Me Maintain You.
One would assume that he was one of many lowest paid rappers within the music industry. Nonetheless, his woes began when he fell behind on funds for a Ferrari car he had leased. In 2012, he filed for chapter and declared having solely about $1,500 on him.
6. Lil’ Kim
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The favored Lil’ Kim was doing nicely till the IRS knocked her means in 2018. It was revealed that she owed Uncle Sam a couple of million {dollars} in taxes. A few of her different woes embrace $2 million in debt on her house, about $186,000 in unpaid authorized payments, and $2.5 million from her former label. The financial institution foreclosed on her house, and the rapper filed for chapter.
5. Fats Joe
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Fats Joe didn’t declare his revenue and pay taxes between 2007 and 2010. He had reportedly earned about $3.3 million after promoting 10 albums, leading to a tax of about $718,000.
He had managed to pay his due taxes and was sentenced to solely four months in prison. Nonetheless, in 2016, the IRS hit the rapper with a advantageous of $1.1 million for failure to pay taxes once more.
4. Younger Buck
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Younger Buck goes by his actual identify David Darnell Brown. He’s a former member of G-Unit and UTP Playas. The rapper, who has launched about six albums, is at present serving time in jail for possession of weapons.
His woes began when the taxman determined to take again what was rightfully his. It was revealed that he owed the IRS tons of of hundreds of {dollars}. He additionally owed dozens of collectors over $11 million.
The IRS stormed, raided his home, and took something beneficial, equivalent to his watches, tattoo package, and leather-based eating chairs. He finally filed for chapter.
Nonetheless, his woes may not have been solely his fault! His supervisor could have didn’t submit his taxes on account of a miscommunication with the rapper’s lawyer.
3. Xzibit
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Xzibit is best recognized for the present Pimp My Experience on MTV. Earlier than that includes within the present, he loved a flourishing rap profession in 1996. Sadly, the rapper went broke after spending greater than his earnings.
Then the surprising occurred; the IRS got here knocking his means. By 2010, the rapper has unpaid taxes amounting to $1.4 million. He tried submitting for chapter, however his request was denied. And his property liened.
2. Nas
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The downfall of one of many biggest rappers was disheartening for his followers. Like every other movie star’s downfall, his woes stemmed from his failure to pay taxes. He additionally had baby assist funds flinching on him.
On the identical time, he was additionally drowning in debt as he owed his supervisor $700,000, $300,000 in again baby assist funds. Sadly, the financial institution repossessed his home in Georgia in 2012.
1. MC Hammer
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Many individuals have been curious to search out out who’s essentially the most broke rapper ever? The story of MC Hammer would possibly shed some gentle on this because the all-time well-known rapper should have had a sound motive to assume the fats instances would by no means come to a halt!
After gaining a lot fame within the Nineties which his best-selling hip-hop album Please Hammer, Do not Harm ‘Em and having a web price of about $33 million, his world got here crashing down.
He had quite a few collectors on his record, together with the IRS, his brother, several lawyers, American Specific, a number of banks, malls, utility corporations, limousine corporations, and others.
The rapper filed for chapter, incomes himself the title of one of the crucial broke rappers right this moment. His story stays one of the crucial well-known movie star monetary tragedies.
The above record of who’s the poorest rapper is an eye-opener on how fame and wealth may be right here right this moment, and on account of a couple of errors, all come tumbling down.
READ ALSO: 15 poorest celebrities whose net worth does not match their fame
As printed on Briefly.co.za, This may increasingly sound surprising to you, however do you know that your favorite or common movie star could also be one of many poorest celebrities whose web price doesn’t match their fame?
The unhappy actuality is that some celebrities battle by means of life, whereas for others, their fame and movie star standing doesn’t match their fame. So, who’re a few of the poorest celebrities right this moment? So, who’s the poorest movie star?
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