Looks like things are getting worse before they (hopefully) get better for DMX. Allegedly, the rapper only has $50 dollars to his name. Now, I saw this story yesterday and ignored it as someone attempting to further drag DMX’ name through the mud. I didn’t even read the story. But today, I clicked on the story and found that the outlet making the claim was the one and only Wall Street Journal.
The Wall Street Journal claimed they’ve seen court filings in the bankruptcy case of Earl Simmons aka DMX. Though DMX was one of the top-selling Hip Hop artists of all time, he now says, under the penalty of perjury that he has $50 and zero dollars in the bank. He also has no personal property of value: no electronic equipment, no jewelry, clothes or cars.
DMX claims the $1.4 million he has in assets are tied to other claims and pending litigation. His debts include $1 million in unpaid domestic support and more than $400,00 owed on a mortgage.
In addition to his debt, DMX is spending more than he’s earning. DMX’s monthly income is $5,000 but he’s spending $5,221 a month, including $1,000 on clothing and $500 on laundry and clothing.
DMX’ case is scheduled to go to court on Oct 8.