Top 5 Rappers That Went Broke

Rappers live a lavish lifestyle trying to keep up with the Jones’ And this lavish lifestyle can lead to these rappers going broke if they spend money and don’t have much coming in. The career span for an entertainer is about 3-5 years if that! And they only have a relatively small time to make as much money as possible before a new artist comes into the industry and takes their spot.

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Those who are fortunate to go on for years and make more albums as well millions of dollars are only small in numbers. In this post I list the Top 5 Rappers that made millions of dollars but went broke by over spending and not saving or investing their money wisely.

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Related: Why Do Rappers Have Gold Teeth?

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5) Young Buck

Young Buck was a prominent rapper from the south who joined rapper 50 Cent’s crew “G-Unit” at the height of their hype. It important to know that even though Young Buck’s first two albums went gold and platinum he is now broke.

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After a disagreement with fellow rapper 50 Cent, Young Buck was released by the record label he was signed with. In 2010 Young Buck filed for bankruptcy and was even evicted from his home. He reportedly couldn’t pay for the home because he owed the IRS $333,975.69.

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4) Beanie Sigel

So we all know how this one played out by watching the news and following all the hip hop blogs. Former friend of Jay-Z and rap lyricist from Philadelphia, Beanie Sigel, failed to pay his taxes from 1999 to 2005 and this led to him owing the IRS more than $728,000 in taxes never paid.

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The rapper claims that he lived a modest lifestyle but his friends kept hitting him up for money and that is why he went broke. As a result of giving his friends money rather than paying his taxes he has served a prison sentence of two years.

Related: Do Rappers Get Paid Off Youtube?

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3) Lil Kim

Rapper Lil Kim who is going through a skin complexity change from her natural beautiful black skin, to a white pale freak show, reportedly spent much of her fortune undergoing various types of plastic surgery. After spending time in jail Lil Kim has not been able to jump start back her rap career.

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In fact, in 2008, Background Media (her former record label) sued her for an amount of $2.5 million and prevented her from being able to release any albums. In 2012 it was reported that Lil Kim owed $1 million for seven years’ worth of taxes she hadn’t paid.

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2) Bow Wow aka Shad Moss

This one is a hard one to report on because Bow Wow is such a respectable young man, but he’s officially taken more L’s than Meek Mill lol. In 2012 Bow Wow leased a Ferrari which he was then not able to make the payments on. As a result, he went to court in and was ordered by a judge to pay $216,084 in money he owed to his creditors.

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The following year in 2013 Bow Wow went to court over unpaid child support and told the judge that he only earned $4,000 a month and only had a checking account balance of $15,000 at that time. What’s worst is that the new show he was on “CSI Cyber” was just cancelled a few day ago! Damn Bow Wow can’t seem to catch a break.

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1)DMX

Sad to write this about such a talented rapper that ended up getting crippled by drugs, especially cocaine.  In 2013, DMX filed for Chapter 11 bankruptcy. The filing claimed he had less than $50,000 in assets and $1-10 million in debt. 

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His debts included $1.3 million unpaid child support, $21,415 car payment to American Honda Finance,  $5000 in unpaid medical bills and $200,000 to a company that produced and marketed his “Boomer 129″ clothing line, Amusing Diversions Inc.