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.