January 15, 2022

DMX Net Worth

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What was DMX's net worth in 2021? Find out how the rapper had a negative net worth at the time of his death.

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DMX Estimated Net Worth: –$1 Million to –$10 Million

DMX was a rapper and actor who began his career in the early 1990s. He released seven successful albums, including "…And Then There Was X" in 1999. This album was certified five-times platinum.

He had a successful rap career and earned money through album sales and touring. But he also had multiple run-ins with the law that contributed his massive debt. By 2021, his net worth was estimated to be around –$1 million to –$10 million.

Learn more about the DMX's life and how he got his negative net worth.

Who is DMX?

Earl Simmons, professionally known as DMX, was born on December 18, 1970, in Baltimore, Maryland, and grew up in New York. DMX experienced abuse early on in childhood. He began living on the streets of Yonkers, New York, at just 14 years old.

Throughout his younger years of being in and out prison, DMX began writing raps and performing at local recreation centers. He eventually gained great commercial success. Today, he's considered one of the most influential rappers of all time.

DMX was the first artist to debut five consecutive no. 1 albums on the Billboard 200 charts.[1] In his career, DMX sold more than 74 million records worldwide.

DMX was a father to 15 children from 9 different women. He died at age 50 on April 2, 2021, at White Plains Hospital after suffering a heart attack.

How Did DMX Have a Negative Net Worth?

DMX was a successful rapper with three multi-platinum albums. Find out how he had a net worth in the negative millions.

Career

Over the course of his 30-year career, DMX released seven studio albums, seven compilation albums, and three mixtapes. He signed with Def Jam Recordings in 1998. This is when his career really took off.

Many of his releases performed well on the charts. But he is best known for his iconic singles from the late 1990s and early 2000s. During this era, he released commercial hits such as "Party Up (Up in Here)," "Ruff Ryder's Anthem," and "X Gon Give It To Ya."

DMX was also featured in film and TV series. He made appearances in movies such as "Exit Wounds," "Cradle 2 the Grave," and "Romeo Must Die." He also starred in his own reality TV show called "DMX: Soul of a Man."[2]

In 2003, DMX published his memoir called "E.A.R.L.: The Autobiography of DMX."

Child Support and Other Debt

By 2016, DMX had filed for bankruptcy three times in seven years.[3] At the time, he owed more than $300,000 in child support, $950,000 to Compass Bank, and $1.4 million in family support and other debts.

His New York home was his only asset, valued at around $350,000. The home was foreclosed in April 2016 after he and his ex-wife stopped making payments in 2008.

Tax Fraud Issues

In 2017, DMX was charged with 14 counts of tax fraud. Federal authorities charged DMX for not filing his tax returns from 2010 to 2015. He pleaded guilty to $1.7 million in withheld taxes. He was also sentence to one year in prison for the tax fraud.[4]

This debt, along with his child and family support payments, contributed to his negative net worth. After serving his time in prison, DMX was released in 2019. But, he still had to pay back around $2.3 million to the IRS.People. DMX Has Been Released from Prison After Serving Time for Tax Fraud

Other Legal Issues

DMX had multiple cases of legal troubles throughout the years. He had been in jail about 30 times in his life. [5]

A few of the charges against him include robbery, DUI, drug possession, and failing to pay child support.

DMX had hoped to restructure his debt in order to continue playing shows again.

Bottom Line

DMX was known for his aggressive rap flow and lyrics about addiction, mental health, and his other personal experiences. He made his mark on the rap industry and inspired many artists today.

His faced many financial setbacks throughout life, despite his successful rap career. By his untimely death at only 50 years old, DMX had already fallen deep into debt.

References

  1. ^ CBS News. DMX, electrifying rapper who defined 2000s rap, dies at 50. Accessed 16 Nov 2021.
  2. ^ IMDb. DMX. Accessed 16 Nov 2021.
  3. ^ Yahoo! DMX is 'Drowning in Debt' And Has Reportedly Filed For Bankruptcy. Accessed 16 Nov 2021.
  4. ^ Rolling Stone. DMX Pleads Guilty to $1.7 Million Tax Fraud. Accessed 16 Nov 2021.
  5. ^ GQ. Dark Man : The Resurrection. Accessed 16 Nov 2021.

Donna Tang is a content associate at CreditDonkey, a personal finance comparison and reviews website. Write to Donna Tang at donna.tang@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

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