DMX Files for Bankruptcy

Photo Credit: Instagram
Photo Credit: Instagram

By: Amanda Anderson-Niles

DMX broke? DMX may have managed to get an engagement ring for his rumored new fiancée, but it appears he probably should have thought twice about that purchase. Just days after reports confirmed the rapper had been arrested in South Carolina for a DUI, now it’s being reported the former Ruff Ryder star just filed for bankruptcy. While we can’t say we’re surprised considering DMX has had a rough few years, the Wall Street Journal has all the details:

The rapper DMX filed for Chapter 11 bankruptcy protection, court records show, days after his arrest on suspicion of driving under the influence.

Filed Monday in the Manhattan bankruptcy court, the Chapter 11 petition of Earl Simmons, aka DMX, lists less than $50,000 in assets and $1 million to $10 million in debt. The rapper said in court papers that he filed for Chapter 11 bankruptcy, which is available to both businesses and consumers, “to enable me to reorganize my financial affairs.”

The New York native and current South Carolina resident owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50% stake in property in Mount Kisco, N.Y.

 

DMX’s money problems aren’t shocking because as most of you know, he’s still been dealing with his drug addiction. Most notably, the rapper appeared on a very controversial episode of “Iyanla: Fix My Life,” and he basically refused to stop abusing substances. His refusal to walk away from substance abuse has also put a wedge between the relationships with his kids and his ex-wife Tashera, and some say it’s the main reason he hasn’t been able to make a comeback to Hip Hop.

14 comments

  1. This is not shocking I said it before DMX is not going to prosper this is what happens when you treat your kids like ish.

  2. Karma man, karma. You don’t ever put yourself and what you want to do over your kids. I knew it was a wrap when he told his son he would not stop doing drugs for him.

  3. I knew this was coming. But owing millions in child support? Man he ought to be ashamed of himself. That’s just trifling.

  4. Considering X was always spending his money on that stuff, I can see why he owes over a million dollars in child support. Smdh.

  5. Makes sense. And how many more reality shows can he even do about addiction? He needs to clean up and get back in the studio because that’s probably the only way he can make money.

  6. This is why celebs can’t surround themselves with yes men. They saw him blowing all that money on drugs and they said nothing! Now he has nothing. Talk about karma.

  7. I’m not surprised he owes so much in child support, most of his money probably went to all his baby mama’s. I was disgusted to hear he has at least 10 kids, most outside of his marriage to Tashera. Add that to the drug problem and it’s no wonder he’s broke. It’s a shame, I was a huge fan back in the day. He really needs to get it together.

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