When The Checks Stop Coming In
Posted by Bossip Staff
Teddy Riley’s studio is for sale and he’s in having financial woes:
At one time, Teddy Riley was the reigning king of R&B and hip-hop. Now he’s just another fallen star who owes $1 million. In a courtroom Friday, two lawyers agreed to seek a buyer for Riley’s recording studio in Thalia, VA. Music history was made there. In the 1990s, Riley produced hit songs in the studio for the likes of Michael Jackson, Janet Jackson, Heavy D, as well as his own group, BLACKstreet. It was a brand-new, state-of-the-art $3 million studio when it opened in 1991.
Riley has been dogged by debts and legal problems for years. In 2002, Riley filed for Chapter 11 bankruptcy protection. He emerged from bankruptcy a year later, but that didn’t stop his money troubles. In 2004, the Internal Revenue Service filed a $1 million lien against Riley for unpaid income taxes. In 2006, Riley was forced to sell his house in the ritzy Church Point neighborhood for $1.5 million to pay off federal and city taxes, as well as the home’s mortgage. Last year, the IRS filed another tax lien against Riley for $196,747. And just last month, the state filed a $93,684 income tax lien against Riley. The studio, too, is mired in debt. In 2005, Riley borrowed $700,000 against the studio from a local lender, Equitable Relocation Services Inc. Riley defaulted on that loan, and the lender won a $700,000 judgment against him in 2006.
SMH. Poor thang.
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how can that be? they still play his music on the radio…
Poor Thang….
Somebody tell a sister what do they do with all the money?
I’m at a loss. Don’t your funds start to get low and you say to yourseld, maybe I don’t need seven cars?
‘They never should have gave you ni@@as money’
Say it ain’t so. Say it ain’t so. I remember all the controversy on the true lyrics to Blackstreet’s “Before I let you go”
I dont want to lose my house, dont want to lose it. I dont want to sayyyy good bye, nah mo. It’s always the big checks I remember, and now they slipped away, slipped away.
LOL @ SIX Shooter.
I don’t wanna lose my house, mmm
I don’t wanna say bye-bye, oh no no
Rentals are so hard to find
Should we move in with your Mom or Miine? or Miiiiine!
Unfortunately this is nothing new. Even today a lot of these new cats don’t bother to get their finances straight before they start to show off the bling. It’s about investing your money and making it work for you in the long run. Oh well, easy come easy go!
@ Ms.Lovely…”Somebody tell a sister what do they do with all the money?
I’m at a loss. Don’t your funds start to get low and you say to yourseld, maybe I don’t need seven cars?”
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I completely agree. I mean, do they just spend up ALL their money?!?! Don’t folks save, invest, etc. LOL, reminds me of low brow folks who win the lottery and blow right through their stash and end up back at square one. I don’t get it at all.
i cant quite put my finger on it .. but this dude reminds me of some type of animal .. he weird lookin
They don’t manage their money and just spend it on clothes and other “entertainment” items. I think a lot of people read the article about britney and how she spends close to a million a month in “entertainment”. They travel a lot and party a lot and who wants to be in the club where they are movers and shakers and can’t make it rain……..then they wake up one day and find out they never paid their taxes and their other bills etc. and now they have to put everything up for sale.
They should make them put their money in a trust account and get a monthly stipend, once you spend your allowance for the month – ho sit down till next month. LOL!
SMDH!!
LOL @ Bankable P
“Ho sit down till next month” Cl*****ic.
negroes, PAY YOUR BILLS!
He got problems ‘no diggity no doubt’
Wait, this can’t be right. The feds was putting liens and stuff on him for a minute, but the Commonwealth of Virginia just now put a lien on him? VA don’t usually slip up like that. I’ll *****ume this is only a sample of his financial troubles and not the entirety.
@NYCPryncess and Six Shooter!! LMFAOOO Y’all are messes I tell ya.
What is new though. All these people are turning up broke because they mismanaged their money so poorly. They spent like they would always be on top and very few invested. I looked at the studio…it looks like crap. I doubt he’ll get a mil for it.
Daggone it Teddy…where did you go wrong? I didn’t even know it was you in the pic until it said your name.
Wow, I grew up during the “New Jack” era. I feel for Teddy! He should have been investing that money for real. Some of today’s “artists” need to be paying attention right now or else they will be singing the same sad song in a year or two…it’s amazing he held up this long. Souljah Boy! Ya listening??? Sean Kingston?? Folk walking around with a bling encrusted Tony the Tiger box and a Crayola crayon box hanging from a necklace…wtf?? They will be selling that ish by summer, watch what I tell ya….
what is up with that long fingernail on the pinkie- maybe all his money is going on some fine white powder to fill that nail.
Teddy Riley isn’t from the bling era, though. So there is more to this story. Blackstreet was wearing shiny suits but not diamond earings. And, Guy just ran out with guitars and what not.
Oh Lawd they doing him like they did “Hamma” they both were on top at some point…oh well, “Life comes at you fast” lololol *hamma’s commercial–him sittin’ on the curb in front of his used to be house*
It’s not funny…but it is. <— Did that make sense??
his studio is in the Thalia neighborhood/section of Virginia Beach, VA. There’s no such thing as Thalia, VA!!
@ Honeydipt: LMFAOOOOOOO!!!!!! You are killing me. I agree. Bling encrusted Tony the Tiger…CL*****IC!!
Daaaaaaaaaum!
That looks like a dump anyway. I would have defaulted on it instead of paying for something as run down as that.
@Nee
Good eye, did not notice the one long pinky nail, ewwwe. That is so nasty.
Brothers cut your nails.
Preach Honeydipt! PREACH!!!
NYCPryncess, you got me here sobbin like a fool. Thanks for making my day….
Back in day when we were going to Va. Beach for Greek Wkend there were Benz, Porsche in the parking lot.
Why the hell does his suit look bigger than him? Now see if he’d keep some of the money instead of wasting it on all that material I’m pretty sure he could have had enough money so he would not have had to sell his studio. BUMMER!
@I’m Just Me
Lol, for real. Bossip had a pic posted a few days ago with some fool in it with a Bling encrusted Frosted flakes box hanging from a chain on his neck. Why cereal and crayons? That alone tells you how immature these kids are. Too much money, too soon and by 21 there’s nothing to show for it–be like Gary Coleman sitting up there with them ashy hands and selling Tony’s azz on Ebay *sigh* except who da hell wanna by a blinged out cereal box?
*buy*
aint no way in the wourld he can be broke. He wrote a whole lot of Michael Jackson ish. I sure he got publishing on that
Say it aint so! Hopefully the neptunes, the group he put on can help him out!
@Look at me
lol, Sheeeiidd *long drawn out *****unciation of the word ***** like the old folk say it* I don’t know how you think he can’t be broke…hell MJ broke too…so much for helping a brother out huh? Lol, Mike don’t have a pot to ***** in and now looks like Teddy don’t have a window to throw his out of. Cause you know they’re about to get rid of Neverland too, right? Sad, so sad.
@p.*****
If the Neptunes plan to do anything, they’re azzes is a day late and a damn dollar short because Teddy’s done, done I tell ya!
Black folk just don’t know how to handle cash in the capitalist system. The system is designed by whites for whites and only educated blacks like me are responsible enough for great wealth.
Thats why I shall be voting for Senator McCain.
Prettybrowngirl u dumn ***** aint nothing wrong with the way the brother looks. I bet your ***** is an in-hood skank. That’s why you won’t post a photo of yourself.
It’s like Tom Joyner said this morning…depending on how many baby mommas he has…that may be where all his money went!
@wtf
Thalia SECTION. Thank you. I was so confused when they said Thalia, VA because I knew their studio was in the seven cities. I wonder if Bossip will correct their error…
i’m shocked…..this guy was really puttin out the hits in the eighties and early ninties.
He was one of the few that I thought could and would count his money.
I’m appalled at “black, yet well educated”. Shut up and at least pretend to have some pride in your race. HO SIT DOWN!
Yes he is wrong is this scenario but not all black folk will spend money foolishly if put in a prosperous situation.
there’s no excuse for this at all. You couldn’t have a hit in the 80’s without Teddy involved. That’s just dumb……black people need to invest and be smarter with the money.
Why do white people act as if blacks are the only ones with poor spending habits. To get online or anywhere and say only a certain group of people will do a certain thing is stereotyping. Take a look at yourself, because you might be a racist. And to top it off I bet you are an ignorant *****ed with no real job or education. Stop judging people. Besides you guys have Britney Spears ……….. deal with that.
@ BANKABLE P
They should make them put their money in a trust account and get a monthly stipend, once you spend your allowance for the month – ho sit down till next month. LOL!
SMDH!!
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now britney need her ***** whooped because this girl was once worth over an estimated 120 million and in recent findings they valued her net worth as 40 million dollars .. she need a ho sit down til the 2 years and you get yo stacks up again .. SMDH
@ witeshoes
Prettybrowngirl u dumn ***** aint nothing wrong with the way the brother looks. I bet your ***** is an in-hood skank. That’s why you won’t post a photo of yourself
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shut the ***** up .. i just read this b***** garbage and hesitated on commenting ..just because you have low self esteem and whenever you hear the words ugly or weird looking, it triggers old resentment for you dont take it out on me. i am allowed to post my opinion .. and him being black has nothing to do with me thinking he’s weird looking. i actually think he has a dolphin face which has nothing to do with anything except my opinion
ps i have posted a picture of myself for bossip judgement however this gravatar aptly fits my standard comment when replying to morons like you.
also .. witeshoes .. if you’re going to call me “DUMN” i suggest you learn how to spell it to avoid the whole pot calling the kettle ..cliche being proved right
Mrs. Lovely #3……I was just about to type the same thing. What do they do with their money? Do they not invest in real-estate or just things that depreciate? I was watching a where are they now on the Backstreet Boys (white version of Blackstreet). One of them is a NY real-estate tycoon. He is trying to be the next Donald Trump. VH1 showed all the NY property that he had bought in the last 10yrs.
Then NEGROS got the nerve to get mad when BET airs shows like, “We got to do better”
I’m confused. What the hell happened to Teddy? Why isn’t he working? Something is going on here. I know someone would entertain a proposal from him if he wanted to sell a hot track. Him and Guy could go out and tour and make some dough. Why isn’t he working?
they have the negroid feature. that’s the problem, black people live to be flashy and in the end all those flashy items ain’t *****.
Colored folks need to learn how to use a bank. This brother should have invested in Wal-Mart or McDonald’s stock instead of buying shrimp and lobsters for the entourage everyday!
I mean I was a true fan of Teddy Riley’s music. These dudes..hoes be having their legs *****ed open for will be in the same situation 15 years from now. Broke! While a ***** is braggin today. Especially the video hoes.
I mean I feel sorry for the hoes who are bragging now that they *****ed umm lets say The Game or Lil Webbie. These fools gonna be broke by next year let alone 15 years.
Learn to think about tomorrow not today!
What people fail to realize is that running a business is like taking care of another household plus some. And the music industry is even worse. So if his “deals” were not that good, and he didn’t have any residuals and royalities coming in, then he was bound to be f**ked.
I told him back in 92 to invest now it’s back to the projects.
Teddy was the man back in the 80’s and 90’s, when New Jack Swing was hot. Then it died and something else was popular. There will always be someone or something newer, younger, hotter. We have extremely short attention spans so entertainers need to take the money they earn during those 15 minutes and invest wisely. Think past today and the bling and the bentleys and the Cristal and invest in your future. SMH
@ Look At Me…MJ has brought and then sold a lot of those songs and royalties to pay for Neverland and all those animals that were being malnourished in his zoo along with back pay for the maids and whatnot…
People don’t know how to manage their money. Tehey feel like they need this entourage of people with them who they have to pay and they are not investing in their future. Oh well, Next.
When will our people learn: PAY YOUR TAXES AND BILLS FIRST, THEN SPEND YOUR MONEY! Don’t just take your accountant’s word, that is YOUR money. Check your finances yourself, you know what you bought and paid for. I’m praying for you Teddy. But I’m sorry: All that money + all thoses hits = You’re an ***** for not having any money, damn Teddy! You better start touring Teddy. These fools kill me living like superstars, then them and their estates are in debt like crazy, borrowing and filing for bankruptcy, chapter 11’s and $hit. “Look at me I’m fly, I’m in the house…DUMB! For what people for what? To be fly for a minute in time.
Some of you people are ridiculously judgmental. If folks like Donald Trump, Burt Reynolds, Willie Nelson, et al can run into money trouble, then why NOT someone like Teddy Riley? How do you know he DIDN’T invest his money and then suffer an unexpected loss? Trump knows NY real estate as well as anyone, yet HE had to file for bankruptcy – why can’t teh same be true for Riley? TR didn’t have nearly as much money as MJ and we see what happened to him…
There’s a reason there’s an industry for financial advisors. Soemtimes folks with good intentions can still end up in debt and behind on their bills. I hope TR’s able to bounce back and get everything in order.
*Important Marketing for Marqueezy de Sucka*
@Mono,
Glad you replied. For your retarded ***** info, I actually graduated from college. Therefore, your ridiculous comment about your crazy sounding post being the most I have read, proves again your ignorance and constant desire to make *****umptions.
You can’t seem to make a point about whatever it is you’re trying to make a point about without resorting to name calling.
Frankly, I am starting to believe you’re the one with the multiple personalities – I’m sure you are one of the stupid b*tches who are always on here talking sh*t about nothing that matters – this time you decided use a different name.
You still sound like a b*tch though.
At least, I use my name – not some moniker.
If you’re going to keep it real, ***** wipe, than keep the sh*t real and start by using the personality your use most of the day.
Feb 6, 2008 – 11:16 am Monotheistic Proof
My reply:
@Marquise de Slave
“Congratulations on your achievement. I didn’t know they still had colleges to teach you how to share crop for pennies.”
Marquise, you have been crushed so badly I am starting to feel like a big meanie.
Buttercup their is no reason Mono should walk the halls of Bossip 40 ft tall while you scuddle around on your 4 bellies. I hope to look into your beedy little eyes as if we were equals. (But only as if…)
Bossip I am not the brute every one thinks. What I took from this man I am about to generously give back AND MORE. This is what I will do for Jenna/Kevbo Jenkins. I am going to help you get your pathetic swag back. What we need to do is market your selling points.
Bossip I appeal to your kinder nature, why would a man come to an all Black women site pretending to only like white women yet… still use his real name? Quite the enigma isn’t it? Well truth is white girls can’t give him the treatment he is seeking.
Well Marqueezy the sucka would like you too know he would actually like to be a slave for the ladies of Bossip. See the reason why he lets you sodomize him with a chainsaw every night is simply because he is what you call a male submissive. Not only is he easy to control (Hence the slave mentality.) But he has grown to love the feeling of enslavement. Why else would he stay on Mono’s chopping block for this long with no arms to swing.
Ladies this is the perfect man for you. Take him home control, degrade, berate, and give the b$tch the spotlight he deserves. Have him clean your boots with his tongue. For the sexy larger readers he is happy to help you carry those heavy saddlebags from room to room while you keep him on a hoe collar.
And the beautiful thing is you don’t have to touch him. He is in it for the sheer anti*****tion of a caress. If you really want to have fun Tie Marqueezy up. Then invite a reeeeeal man over.
Watch Marqueezy de Weasel squirm while you get yours endlessly. Get up in the middle of it and walk over pimp slap the sucka. Your mandingo doesn’t clean up downtown have second personality Kevin Cotex do it. Then let your real mandingo go back to work giving you that real pleasure you deserve.
Take advantage of this unbelievable deal now. He’s college educated in open field studies (Share cropping) so you don’t even have to work anymore he will support you for the ill treatment alone. This is more valuable then 15 Reggie Bush’s, a Brad Pitt and a young Denzel.
I am done Marqueezy de Sucka you are going to box yourself into a suicide and I am a lover not a killa.
It was bad enough you had to change your screen name. But it’s sucks to know you have to change your real name too. LOL
I reccommend Petunia!!! Sucka!
***** Teddy–
I was a fan of his back in the day ’til I saw how he treated Donna! I wish my sister would’ve never introduced her to him!!! I’m glad she finally left his ***** AND took him to the cleaners!!!!!!!!!!!!!!!!
I’m not typing something I heard either! I know the scab personally and I can say–
He AIN’T *****!!!!!!!!!!!
Not—LMAO!!!!!!!!!!!!!!!!!!!!!!
ps i have posted a picture of myself for bossip judgement however this gravatar aptly fits my standard comment when replying to morons like you.
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It’s a wrap!!!!!!!!!!!!!!
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DEAD!
@Marqueezy de Sucka
How’s the marketing working any new dates? LOL
@Bossip
Hey everyone, I just learned Marquise de Sade doesn’t like the Advertising I have done for him whatever you do don’ttttt read my very long commentary. It may be hurting his feelings.
The studio is in Virginia Beach, VA. Not Thalia, That’s the section of the city that the studio is near. Stick a fork in him, He’s Done!!!
I live in virginia Beach Virginia, where the studio is located. They ran a similar article concerning his financial woes in the local paper. I hope everything works out for him. By the way, it’s not Thalia Virginia…it’s virginia beach virginia and the subdivision is Thalia. Have a Great Day
this makes me so sad
I hate that for the man if it’s true………………………………..I wonder will cutting off the “powder pinkie” help????
I am ashamed that in this day and age we wealthy black people can not put together a consortium to preserve our history. We should not let this happen!
Let’s make it easy for you to understand. If 4 so called top rappers came together and put on the table the money they spent on their latest sports cars, I am 100% sure that we won’t have a problem.
Whether we like it or not, Teddy Riley wrote an important chapter in r&b and HipHop music! The studio is a shrine and should not fall into the hands of blood thirsty – kicking a man when he’s down fools!
People, let’s do it right for once! Let’s form a consortium and save the studio! Let Teddy Riley work for us and clear up this mess. Hire some new beat makers to work under him. Draw out a 3 year plan and I am 100% sure that Teddy can do it again.
Kindest regards
Chuck
EGO and leeches. Ego won’t let us learn from each other or admit to not knowing everything. Everybody KNOWS how to run the game, NOT! We still being played. I’ll bet every white professional (lawyer, acct, PR people) is in better financial shape.
When will we learn ‘DA GAME IS BIGGA”!