Memphis Bleek is Broke and Files for Bankruptcy. Here is Why Jay-Z is NOT to Blame (Grown Man Details)
FINANCIAL BREAKDOWN
Whatever Bleek was doing on his own, he wasn’t doing enough of it. His finances are crazy! He might as well be one of us…or worse.
This is a man with just $100 in his pocket and loans that are out of control. There is no doubt that they were all negotiated based on horrible credit scores (I speak from past experience).
TOTAL ASSETS: $274,000 – This includes his house in New Jersey ($250,000), a Chevy Impala ($14,000), his clothes ($2000) and his wedding rings (5000).
TOTAL LIABILITIES: $350,000 – This includes $335,000 owed on his house in New Jersey, $24,000 on his Impala, $9000 to the IRS, and $13,000 to the courts.
YEP, he is upside down in his mortgage even in today’s booming Real Estate market…and his car.
EARNINGS – $5,911.94 PER MONTH – That’s just $70,943 per year. That actually includes his royalties of $571 per month.
They even breakdown his monthly spending:
- Mortgage: $2,250
- Food and Housekeeping: $400 – don’t worry that doesn’t include a housekeeper
- Alimony / child support : $250
- Car Payment: $516 – on a damn Chevy Impala
WASN’T BLEEK GETTING THAT “BEHIND THE SCENES MONEY” PROMOTING LIQUOR?
Bleek put out 4 albums and had an album in 2010 that was unreleased. This was the guy who was supposed to take over the throne from Jay-Z but somehow he is now the court jester.
That might sound harsh but when you look at the details of his bankruptcy, and the opportunities he’s had, it’s enough to either make you laugh or cry.
To his credit, he was/is a great lyricist and could even today put out a pretty significant album if he really wanted to. Jay offered him a deal when he signed his Live Nation deal but Bleek declined as he wanted to go independent. However, going independent means working 10 times harder for 1/10 the sales. It’s not cut out for everyone.
During his interview with the Breakfast Club he mentioned that he put music on the back burner and he was supposed to be supporting D’usse brand liquor.
This is a Cognac owned by Jay Z. Along with that job he was also working with artists under his own label. I guess these things take time, and creditors can’t wait.
IS THIS ANOTHER TONY YAYO AND 50 CENT SITUATION?
At first I thought this was like the entire G-unit thing however there is one huge difference; Bleek is still loyal to Jay. He can be bitter but up until now, he only keeps commentary about Jay positive, which will serve him well in the end.
He might be broke, but he’s not stupid. Sometime we think they go hand in hand but often times they do not. You can be broke and smart…and we all know far too well that you can be rich and stupid. Right Trump?
Here’s Bleeks interview with The Breakfast club just a few months ago.
WATCH NOW:Memphis Bleek Breakfast Club Interview Power 105.1
