The Real Reason Memphis Bleek Declared Bankruptcy
"Memph Bleek is … (money holda, shot caller, blunt smoka, hot roller)," raps the New York emcee Memphis Bleek on his 1999 single "Memphis Bleek is." Nearly two decades later, however, Bleek found that he wasn't so money anymore. The rapper on Jay-Z's Roc-a-Fella label filed for bankruptcy in March 2016.
Going broke might seem like the obvious result of not having released any new material in over a decade, but still, it's not like Bleek doesn't have any cash coming in. According to Complex, his assets included a house in New Jersey, a Chevy Impala, an extensive wardrobe, and wedding rings (yes, plural) that have a total value of $274,000. But his liabilities add up to $350,000. "He also claims he has only $100 in cash … and his business 'Get Low Touring' is worth nothing."
But the real reason Bleek went broke seems to be that the guy is just bad with money. Complex reported that the one-(maybe two, but that's pushing it)-hit-wonder was said to have a combined monthly income of $5,911.94 from royalties and his business at the time he filed for Chapter 11. But his expenses each month came out to $5,377, leaving the rapper with a paltry $534.94 after paying his bills.