Yesterday, BOSSIP reported that Camel defaulted on debt payments on a $52 million dollar loan and then sued the lender for harassing him and wanting their money back. Well, BOSSIP went digging.
Last year, Camel’s attorney Michael DiMattia sued him for not paying his legal bills. The lawyer was working on behalf of Jay-Z in a federal lawsuit that claimed 400 workers his NYC 40/40 club were not paid minimum wage or overtime.
Back in 2007 before the economic collapse, Camel bragged in “30 Something” that “I got the right stock, I got stockbrokers that’s movin’ it like white tops”.
After this track dropped, the stock market fell by more than 50% and it’s very likely the investment portfolio Jay-Z was bragging about took a big hit and he sold off his investments near the bottom, like many inexperienced investors who didn’t want to lose anymore stacks.
Even with the “seemingly” lucrative $150 million LiveNation deal, with the collapse of music sales, fashion sales, some investments he had in the stock market before it imploded, and considering his “private plane with a bodyguard lifestyle”, it’s very likely Jay-Z is still very rich but is not “liquid” (have access to a lot of his net worth). This is a possible reason why he had trouble making payments on the $52 million loan and why he has to crank out hip-hop albums once every 2 years at 40+.
More On Bossip!
Swole: Celebrities That Are Almost Too Damn Muscular For Their Own Good
THICKER!: Beyonce’s Whitney Houston Halo Intro Tribute For “Live At The Revel” Performances [Video]
Road Rage! Celebrities That Shouldn’t Be Allowed To Drive
Turning In That V-Card: When Did Your Favorite Celebrities Lose Their Virginities?
Dirty Dog Diaries: A Gallery Of Men That Left That A$$ For A White Girlllllll













