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Snoop Dogg, Who Today Has An Estimated Net Worth Of $160M, Admitted That He Was Once Advised To File For Bankruptcy

Not every affluent musician can say they’ve also found success in entrepreneurship, but Snoop Dogg stands as one of those who can.

Ngozi Nwanji

Dec 27, 2023

How Mike Tyson Earned $400M, Filed For Bankruptcy, And Recovered — 'I Didn't Think I'd Make It Through My 30s'

The year 1997 was a good one for Black culture. The movie “B.A.P.S.” was in the theaters, and The Notorious B.I.G.’s “Hypnotize” was at the top of the charts. But it was a somewhat historic June night in Las Vegas, NV, that most people remember most. Mike Tyson and Evander Holyfield were going head to head in a boxing match, and something unbelievable happened out of nowhere. Tyson bit off a piece of Holyfield’s ear. That bizarre moment changed boxing forever and was a pinnacle moment in Tyson’s public life. Tyson is a New York native who rose to prominence in the mid-’80s for his boxing prowess. At one point, he boasted an undefeated record, dominating the industry and earning the heavyweight boxing title. According to ESPN, the 56-year-old would finish his 58-fight career with 50 victories, winning 44 by knockout. In 2011, he was inducted into the International Boxing Hall of Fame. And while Tyson’s talent in the boxing ring was commendable, his out-of-the-ring antics started to...

Josh Rodgers

Apr 19, 2023

After 5 Years In The Industry, TLC Had Made An Estimated $175M But Said They'd Only Received About 1%

The world loves a good rags-to-riches story, but what about when the story goes in the opposite direction? This fate was once the backstory for the popular girl group TLC. TLC was named for the group members Tionne “T-Boz” Watkins , Lisa “Left Eye” Lopes, and Rozonda “Chilli” Thomas. The three women officially hit the scene after the release of their debut album in 1992. However, the success of their sophomore album “CrazySexyCool” in 1994 would really launch them into superstardom. That album had chart-topping hits such as “Creep,” “Red Light Special,” and the iconic and crossover hit “Waterfalls.” The women would go on to earn two Grammys in 1995, becoming the first girl group at the time to reach diamond status in album sales. And while some may not have imagined the success of that album, the group members understood they were creating something unique. “We went in letting producers know that this was the name — and that’s how the album should sound,” Chilli said in a BBC News...

Josh Rodgers

Mar 31, 2023

George Foreman Nearly Went Bankrupt In 1986 Then Bounced Back To An Estimated $300M Fortune

Have you ever wanted a grilled burger, but the weather wasn’t cooperating, or you didn’t feel like busting out the grill? In 1994, a solution to that first-world problem manifested with the release of the George Foreman Grill. The introduction of the small kitchen appliance was revolutionary at the time and was all the rave for consumers seeking the benefits from this innovative product. This invention, however, was not the initial highlight of Foreman’s career. His boxing prowess made him a household name, a global superstar, and a well-respected athlete. George Foreman was born in 1941 in Marshall, TX. Based on his website, he had a challenging upbringing that led him to engage in several street fights. However, he would get the opportunity to enroll in a Jobs Corp program where he met Doc Broaddus, a boxing coach. Once he began training, Foreman progressed rapidly, jumpstarting his professional career in 1969 after winning Gold in the 1968 Olympics amateur boxing competition. The...

Josh Rodgers

Mar 15, 2023

How Vince Young Wiped Out Over $25M Thanks To His Love For The Cheesecake Factory And Other Spending Habits

An old saying suggests, “life comes at you fast.” And that’s a sentiment that proved to be true for former NFL player Vince Young. Young was a college quarterback standout for the University of Texas Longhorns. He would lead the team to a national championship win over the University of Southern California Trojans in the Rose Bowl in 2006. His collegiate performance on the field led to his drafting as the No. 3 pick to the Tennessee Titans later that year. According to Spotrac, Young’s initial contract with the Titans earned him $25 million. Throughout his career, he would go on to be signed by the Philadelphia Eagles, Buffalo Bills, and Green Bay Packers. During his overall time on the field, he averaged 8,964 passing yards and threw 46 touchdowns. However, it was his time with the Titans that launched him into NFL superstardom. According to Bleacher Report, Young became the first-ever rookie quarterback to rush for over 500 yards, leading the Titans to a record of an 8-8 finish...

Josh Rodgers

Mar 8, 2023

Byron Allen Buys Black News Channel Out Of Bankruptcy For $11M

It’s official! Byron Allen has purchased the Black News Channel.  

Samantha Dorisca

Jul 21, 2022

Black News Channel Receives $1.6M From Billionaire Shahid Khan Following Bankruptcy Filing

There’s an update on the ongoing story surrounding the Black News Channel following AfroTech’s previous report that the media outlet filed for bankruptcy. According to Bloomberg, the Black News Channel has reached out to a federal judge to grant permission for funds from billionaire Jacksonville Jaguars owner Shahid Khan. The request would grant the outlet more time to stay afloat as they hunt for a new buyer.

Samantha Dorisca

Apr 22, 2022

Posting On Social Media May Have Just Caused Young Buck's Bankruptcy Case To Take A Bad Turn

Young Buck is in a bit of trouble with the United States Bankruptcy Court — and it’s all thanks to some ill-advised social media posts. According to Complex, the rapper born David Darnell Brown has made some Instagram posts that have raised the collective eye of the federal courts. Apparently, he’d been posting about some of his things — such as a motorcycle, a set of gold grills, and even CashApp donations — which he’d previously not disclosed to the courts in his initial bankruptcy filing. Young Buck filed for Chapter 7 bankruptcy in January of 2020 — shortly before the pandemic — to avoid paying a litany of creditors, including the mother of his children, the IRS, and even Curtis “50 Cent” Jackson himself. The Cashville rapper claimed that he initially filed for bankruptcy to get out of his G-Unit obligations. In addition to not honoring his contractual commitment to the label, Young Buck also claimed that he owed 50 Cent more than $250,000 in a personal loan — and he was unable...

Nicole Barham Says She Turned Her Experience With Bankruptcy Into A Way To Make Over $100K Per Quarter

From bankruptcy court to racking in the dough, thanks to her lucrative business, Nicole Barham’s side hustle has now become one of the biggest contributors to her success as an entrepreneur. According to TIME, Nicole Barham is the founder of Design Your Wealth, a platform that helps others tap into the resources needed to manage, grow, and maintain wealth. “I started the business after my own experience of not managing my finances properly landed me in bankruptcy court,” said Barham, TIME reports. “I have a background in accounting and spent years taking care of my employer’s finances, so it was particularly heartbreaking that I was in this position.” The bankruptcy experience left Barham inspired to regain control of her own narrative, ultimately leading to the side hustle that is now bringing her big bucks of more than $100,000 per quarter.

Shanique Yates

Mar 18, 2022

These 10 Celebrities Filed For Bankruptcy — Here's How It Went For Them

In January 2022, AfroTech reported on the curious bankruptcy case of one Trick Daddy. At the time, we reported that the “Nann” rapper — who hit a world of a mess when he got stung by the BeyHive after snarking that its Queen, Beyoncé, couldn’t sing — was in default on his Chapter 13 filing. Court documents obtained by Radar Online reveal that Trick Daddy owes nearly $23,000 to bring his Chapter 13 filing current. He has 45 days to cure the debt, or he will be deemed in default. If he fails to come up with the nearly $23,000 owed to the courts, his bankruptcy will be discharged, and collection efforts can begin anew on his assets. What’s more, the radio host also revealed to the courts that he has more than $800,000 in debts, but less than $400,000 in assets. Because of his precarious financial position, Trick Daddy filed what’s called Chapter 13 bankruptcy, which is when your debits and credits are given to a trustee, who then “balances your budget” in a manner of speaking. Once...

Trick Daddy's Bankruptcy Case Explodes — $150K Net Worth Offset By $23K In Debts

Trick Daddy is in a world of hot water — and this time, it’s with the courts. The rapper and former radio show host — who hit a world of a mess when he got stung by the BeyHive after snarking that its Queen, Beyoncé, couldn’t sing — is in default on his Chapter 13 bankruptcy filing. Court documents obtained by Radar Online reveal that Trick Daddy owes nearly $23,000 to bring his Chapter 13 bankruptcy filing current. He has 45 days to cure the debt, or he will be deemed in default. If he fails to come up with the nearly $23,000 owed to the courts, his bankruptcy will be discharged, and collection efforts can begin anew on his assets. And that’s not all he owes. According to the outlet, he’s delinquent by $300,000 to the IRS. He also owes $60,000 in back child support. What’s more, the “Naan” rapper revealed to the courts that he has more than $800,000 in debts, but less than $400,000 in assets. He’s underwater on his South Florida home — though he owes $435,000 on the home, the...