DMX Files for Bankruptcy
Days after an arrest for a suspected DUI, the rapper born Earl Simmons saw his financial troubles peak. As such, he declared bankruptcy, the Wall Street Journal reports, listing $50,000 in assets and between $1 and $10 million in debt. His unpaid child support alone is estimated at $1.24 million, and there's $21,000 owing on an auto lease.
DMX said that he was making the Chapter 11 petition "to enable me to reorganize my financial affairs." The small silver lining is that he was ultimately not charged with a DUI.
UPDATE: In a statement to Exclaim!, DMX's PR rep Domenick Nati offered the following:
DMX's financial strains have been inhibiting his career for several years. Poor financial management by prior representation have caused him to be ineligible to retain a passport. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans oversees. We are currently planning a tour in Europe and Africa for the fall of 2013.
NewsMar 04, 2015
Heems Reveals the Personal and Political Direction of 'Eat, Pray, Thug'
Heems was a member of Brooklyn alternative hip-hop group Das Racist, started his own New York-based label Greedhead and had an accomplished ...
NewsMar 03, 2015
Snoop Dogg Reveals Artwork for 'BUSH'
Sadly, Snoop Dogg may have just lost the "artwork leak of the day" award to the mind-bending, neon display of Björk's Vulnicura, but the cov...
NewsMar 03, 2015
Die Antwoord Label Drake a Massive Homophobic F-word
South African shock-rap provocateurs Die Antwoord have long been known for their button-pushing ways, but vocalist Yolandi Visser crossed a ...
NewsMar 02, 2015
Wu-Tang Clan's One-of-a-Kind Album Won't Be Released Commercially for 88 Years
Wu-Tang Clan's plan to sell their one-of-a-kind album Once Upon a Time in Shaolin is still a go, but your chances of ever hearing it just go...