From ’97-’02, the pitbull-hearted Rap star had a legendary run with four consecutive #1 albums, four starring movie roles (“Belly”) and mega-success before his recent filing for Chapter 11 Bankruptcy. With only $50,000 in assets and $1 million-$10 million in debt, he’s the latest superstar-turned-tragedy to fall from grace.
Here are seven reasons why the iconic NY rapper filed for Backruptcy. Take a look.
10 Kids, 6 baby mamas
You really have to be a savage combination of fertile and condom-allergic to owe more than $1.24 million in child support. Face of the “Pull out for what?” movement? Definitely Lil Wayne DMX.
Refusal to accept responsibility, for anything
When asked about his struggles, all you’ll hear is “Oprah tricked me. That voodoo witchdoctor b***h Iyanla tricked me. My baby mama tricked me. And r@ped me” which explains why he’s here.
X on getting r@ped by his baby mama: “She r@ped me. I mean, you know, that might sound like some bullisht. No man has ever been—you know what I mean, like never? Is that the only thing in the world that’s not possible?” (“Sister 2 Sister” mag).
Financially-reckless
How does one of the best-selling Hip-Hop artists of all-time only have $50,000 in assets in 2013? Well, fast cars (“I got too many cars to not drive ’em, man”), faster women (who weren’t his wife), countless slave dogs and terrible business decisions.
Expensive nose candy addiction
Between his booger sugar addiction that made him bark at the moon and rehab costs, he blew millions. Pun intended.
Hatred of freedom (Jail addiction)
He’s been arrested AT LEAST 20 times for everything from gun charges to impersonating a federal agent in New York. After adding legal fees and millions worth of fines, it’s easy to see why he’s buried in debt.
Horrible money management
Over $50 million in (estimated) career earnings, 30 million albums sold worldwide (+ royalties), several starring movie roles, countless song features, his own reality show and he’s nearly $10 million in the hole? SMH.
Statement from his rep Domenick Nati: “DMX’s financial strains have been inhibiting his career for several years. Poor financial management by prior representation have caused him to be ineligible to retain a passport.”
“Poor financial management by prior representation?” Really, X? Not the drugs, luxury cars, lifetime supply of grey timbs or flock of thirsty baby mamas?
Terrible business sense
He refused to do more than one take in the studio, was nearly impossible to work with and beefed with everyone including superproducer Swizz Beatz (who produced his biggest hits).
Photo credit: Rapradar.com
Comments
Bossip Comment Policy
Please read our Comment Policy before commenting.