Jermaine Dupri pays off $3 Million Tax Debt, The Super Producer is almost out of Money!
Dupri had a tax lien of $3 Million dollars! The IRS put a lien on Dupri back in 2008 claiming that despite his song lyrics, “Money is actually a Thang”. They say that he owed $3,095,004.64. DAYM!
Jermaine stepped up and paid off the lien in full on January 18th, but that leaves the former baller, ex-shot caller with a net worth of only $5 Million.
HOW DID JERMAINE DUPRI LOSE ALL THAT MONEY
Back in 2008 when he incurred the $3 Million tax debt he earned $11 million and had a net worth near $60 Million.
Jermaine’s financial troubles came as a result of his company So So Def taking on too many loans. When the over leveraged company could not put out enough hits to pay back debtors, the bill collectors came knocking and so did Chapter 11.
In September of 2011 Premier Financial Services repossessed JD’s Lamborghini Murcielago. Dupri financed the $330,000 car by agreeing to make 58 payments of $4,323 after putting $70,000 down.
People say that Janet Jackson was backing Jermaine financially through their relationship which would explain his financial collapse at the time of their break up. Maybe Jermaine can make a come back…..maybe not.
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