Fallen So Far: DC-Area Businessman Losing $23 Million Mansion To Foreclosure
Rodney P. Hunt made a name for himself by becoming one of the most successful black-owned government contractors in the country. And he wasn’t shy about it; he let everyone know about his success, talking up the lavish $23.1 million mansion that owned on the riverfront in McLean, VA. We say “owned” because the house is scheduled to be sold at auction on September 27, reports The Washington Post.
At one point, Hunt’s wealth was estimated at $265 million. The co-founder of RS Information Systems, a tech company launched in 1992, he sold that company in 2007. His son was featured on MTV’s Teen Cribs (you can watch a clip via that Washington Post link), his company employed 1,700 workers at one time and RSIS stayed on the Inc. 500 list for years.
But despite his actual success, Hunt felt the need to exaggerate, inventing college degrees, a partial ownership of the Washington Nationals baseball team and even a visit from President Obama when he was a candidate on the campaign trail four years ago. Now, he’s in default for $9.4 million on his lavish Potomac River mansion, owes $10 million for loans and bad investments and hasn’t responded to media inquiries. He has a music label, RPH Entertainment, that reps a number of little-known acts and one, Big Pokey, that WaPo says you might know.
In case you’re shopping for some property, the McLean mansion is equipped with a bowling alley, indoor basketball court and a 15-car garage. Hunt at one time said it covered a total of 53,000 square feet. (He also called his son Bradley, aka rapper Kid Named Breezy, “The Chosen One.” Yikes.) You would need a $100,000 certified check in-hand to purchase.
After the huge success of his tech business, it sounds like Hunt got a little too big-headed and is now paying the price. No one wants to hear a story about someone losing their home or livelihood, but it is a cautionary tale.
More on Madame Noire Business!
- Census Shows 27.6 Percent of Black Americans Live in Poverty
- No to OWS: Jay Says He Never Supported Occupy Wall Street Movement
- Vh1’s Jackie Christie and Stylist Rochelle Moseley Encourage Next Generation of Entrepreneurs
- Put Your Pride Aside: Why You Should Take The Job You Need Until You Can Get The One You Want
- Celebrities, Freebies and (Maybe) Some Shopping: A Look at Fashion’s Night Out
- Vogue’s First Fashion Week In Africa Highlights Renewed Interest in the Continent