DMX filed for Chapter 11 bankruptcy yesterday in Manhattan, claiming he has just $50,000
in assets and between $1 and $10 million in debt, The Wall Street Journal reports.
According to court papers, DMX owes $1.24 million in child support and more than $21,00
on an auto lease along with other outstanding loans. His primary asset is a 50 percent stake
in property in Mount Kisco, New York. Filing for Chapter 11, the rapper – real name Earl
Simmons – hoped would "enable me to reorganize my financial affairs."
Rockers and Their Pets: DMX**
The New York
MC had been silent on the mic for a few years before he returned in 2012
with a handful of gigs , a slot on the Rock the Bells tour and his seventh studio record,
Undisputed .
DMX filed for bankruptcy just days after he was arrested on suspicion of driving under the
influence and without a driver's license in South Carolina. The MC, however, passed a
breathalyzer test in jail and was released without being charged after posting $1,235 in bail.
This guy was flying high but wasted all his money on vanity like girls and booze. Pity the poor bugger.
ReplyDelete