Lavish parties, private jets, luxury brands, mansions, and flashy expensive cars are some of the few things that come to mind when one imagines wealthy celebrities’ lives, especially rappers. This genre of music tends to anticipate certain expensive lifestyles. But, interestingly, this hard-earned money can also vanish within the blink of an eye for various reasons. So, who is the poorest rapper?
You will be surprised how some big names in the hip-hop industry have ended up being completely broke. Some lost their money through rogue record deals, poor mismanagement of funds, and living a high-end life. Elsewhere, some found themselves on the wrong side of the IRS. So, who is the poorest famous rapper?
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Top 10 bankrupt hip hop artists
As a musician, when you write songs about how much money you earn, it is only fair that you also display the same lifestyle. For an average person, these perks can only remain a dream! So, are there broke rappers who act rich? This list features the poorest rappers in 2022 who once lived a high life before eventually going broke.
10. Ja Rule
Ja Rule is a rapper who was popular in the early 2000s. He is known for some of his hit songs, such as Mesmerize and Always on Time. He was swimming in his successful career and earned a fortune but somehow failed to claim his income. As a result of this, the IRS saddled him with $1.1 million.
The rapper was also sentenced to two years and four months in prison for tax evasion. When his fans thought his woes were over, the IRS claimed $2 million back in taxes in 2019.
9. Nelly
Nelly is one of the most famous rappers in the 2000s. The rapper was at the top of his career for some reason before his world started crumbling down. His first album, Country Grammar, sold more than 10 million copies in the U.S. His other popular hit songs include Hot in Herre, Dilemma, Ride wit Me, and Air Force Ones.
Trouble came knocking when the rapper failed to declare and pay his taxes, and like any person in his shoes, the IRS came knocking and slapped him with a huge tax lien. It was revealed that he owed taxes up to $2.4 million. Before this, he had just paid $149,511 to the Missouri Department of Revenue in unpaid taxes.
8. DMX
The rapper had enjoyed a long and successful career; however, it was all short-lived as Uncle Sam appeared in the picture. DMX went to the extent of trying to file for bankruptcy but was unsuccessful.
He was charged with various counts of fraud for failing to file his income and declare his taxes from 2010 and 2015. As a result, he had to part with $2.29 million and was sentenced to prison for one year for tax evasion.
7. Bow Wow
Lil’ Bow Wow was quite a hit in the 2000s as well. His career started at 13, and he ventured into acting. He was a darling to many, especially for his hit song Let Me Hold You.
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One would think that he was one of the lowest paid rappers in the music industry. However, his woes started when he fell behind on payments for a Ferrari car he had leased. In 2012, he filed for bankruptcy and declared having only about $1,500 on him.
6. Lil’ Kim
The popular Lil’ Kim was doing well until the IRS knocked her way in 2018. It was revealed that she owed Uncle Sam more than one million dollars in taxes. Some of her other woes include $2 million in debt on her home, about $186,000 in unpaid legal bills, and $2.5 million from her former label. The bank foreclosed on her house, and the rapper filed for bankruptcy.
5. Fat Joe
Fat Joe failed to declare his income and pay taxes between 2007 and 2010. He had reportedly earned about $3.3 million after selling 10 albums, resulting in a tax of about $718,000.
He had managed to pay his due taxes and was sentenced to only four months in prison. However, in 2016, the IRS hit the rapper with a fine of $1.1 million for failure to pay taxes again.
4. Young Buck
Young Buck goes by his real name David Darnell Brown. He is a former member of G-Unit and UTP Playas. The rapper, who has released about six albums, is currently serving time in prison for possession of guns.
His woes started when the taxman decided to take back what was rightfully his. It was revealed that he owed the IRS hundreds of thousands of dollars. He also owed dozens of creditors over $11 million.
The IRS stormed, raided his house, and took anything valuable, such as his watches, tattoo kit, and leather dining chairs. He eventually filed for bankruptcy.
However, his woes might not have been entirely his fault! His manager may have failed to submit his taxes due to a miscommunication with the rapper’s lawyer.
3. Xzibit
Xzibit is better known for the show Pimp My Ride on MTV. Before featuring in the show, he enjoyed a flourishing rap career in 1996. Unfortunately, the rapper went broke after spending more than his earnings.
Then the unexpected happened; the IRS came knocking his way. By 2010, the rapper has unpaid taxes amounting to $1.4 million. He tried filing for bankruptcy, but his request was denied. And his property liened.
2. Nas
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The downfall of one of the greatest rappers was disheartening for his fans. Like any other celebrity’s downfall, his woes stemmed from his failure to pay taxes. He also had child support payments flinching on him.
At the same time, he was also drowning in debt as he owed his manager $700,000, $300,000 in back child support payments. Unfortunately, the bank repossessed his house in Georgia in 2012.
1. MC Hammer
Many people have been curious to find out who is the most broke rapper ever? The story of MC Hammer might shed some light on this as the all-time famous rapper must have had a valid reason to think the fat times would never come to a halt!
After gaining much fame in the 1990s which his best-selling hip-hop album Please Hammer, Don’t Hurt ‘Em and having a net worth of about $33 million, his world came crashing down.
He had numerous creditors on his list, including the IRS, his brother, several lawyers, American Express, several banks, department stores, utility companies, limousine companies, and others.
The rapper filed for bankruptcy, earning himself the title of one of the most broke rappers today. His story remains one of the most famous celebrity financial tragedies.
The above list of who is the poorest rapper is an eye-opener on how fame and wealth can be here today, and as a result of a few mistakes, all come tumbling down.
READ ALSO: 15 poorest celebrities whose net worth does not match their fame
As published on Briefly.co.za, This may sound shocking to you, but did you know that your favourite or popular celebrity may be one of the poorest celebrities whose net worth does not match their fame?
The sad reality is that some celebrities struggle through life, while for others, their fame and celebrity status does not match their fame. So, who are some of the poorest celebrities today? So, who is the poorest celebrity?
Source: Briefly News
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