Get Rich or Die Tryin’: The Top 5 Rappers that went broke

By Anton Constantinou 

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In breaking news this week, rapper 50 cent has filed for bankruptcy protection, after a court ruled that he must fork out $5 million to a woman suing over a sex tape scandal

The story goes that Fiddy allegedly added a commentary to a tape the woman made with her boyfriend. The tape was then leaked on the internet. An invasion of privacy lawsuit, the jury are also considering punitive damages . But make no mistake, The Get Rich or Die Tryin’ star is not on the brink of financial ruin- filing for bankruptcy in this way has meant that he can protect his investments. The Grammy Award winning rapper is thought to have assets in sum of $10-50 million. With over 30 million albums sold to date, he is said to be one hip hop’s wealthiest artists.

Lets be honest, the possibility for jokes here is endless: 50’s “Patiently Waiting” for the outcome of the case;  when it’s done he’s gonna be diggin’ in the “Piggy Bank”; by the “Power of the Dollar” he’s guilty as charged.  Rather than rip him further though, we’ve decided to take a little trip down memory lane by looking at some of the biggest rappers who’ve gone bust down the years. In no particular order, here are our top 5:
1.) DMX
Angry, gruff talking Ruff Ryder DMX, filed for chapter 11 bankruptcy in 2013. His debts comprised $1.3 million in unpaid child support, a $21,415 car payment to American Honda Finance and $5000 in unpaid medical bills. X gon’ give it to ya? I think not!
2.) Lil Kim
lil kim
It should come as no surprise that pint size rapper, Lil Kim, blew most of her fortune on plastic surgery- she looks something that’s been pulled from a fire at Madame Tussauds. In 2008, her former label, Background Media, sued her for $2.5 million and prohibited her from being able to drop any albums. Worst still, in 2012, it transpired that  Lil Kim owed $1 million for seven years’ worth of unpaid taxes.
3.) MC Hammer
mc hammer
From can’t touch this to please clean me out, old school star , MC Hammer hit debts of up $13.7 million at one point. How, you ask? By spunking $30 million on marble floors and failing to pay his taxes. And if you thought that was bad, it was also alleged that he’d been paying a hired help half a million to wait on him hand and foot. Hammer’s case is a classic example of going broke in style.
4.) Xzibit
xzibit dawg
Former rapper and Pimp My Ride Presenter, Xzibit, began to crash to burn when MTV cancelled his show in 2008. Since then, his salary’s shrank to a modest $67, 510 per year and he’s been forced to file for bankruptcy. In 2010 alone he owed the IRS in the region of €1 million in back taxes. At a guess we’d say he likely went bust from continuing to spend beyond his means after Pimp My Ride packed up.
5.) Fat Joe
It seems likely that Fat Joe may have a shed a few pounds after finding himself broke.  The Terror Squad front man served a four month prison sentence for failing to pay $700,000 in taxes between 2007 and 2008. Pushing the blame, he pointed the finger that those in charge of managing his money, claiming it was their responsibility to pay the taxes. Naughty Joe!

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