Earl Simmons, better known by his stage name DMX, who debuted on the American music scene in 1998 with over 30 million albums sold, says he is broke and has just $50 to his name.
Back in July, the 42-year-old rapper filed for bankruptcy. According to the court documents in the case, he is down to his last $50 with nothing in the bank and a few assets.
DMX says the rest of the $1.4 million in assets he owns is tied up in pending litigation and other claims. Besides that, he claims under penalty of perjury that he has no personal property of value, including electronics, jewelry, and/or cars.
His debts are pretty impressive though. X owes more than $1 million in unpaid domestic-support obligations, more than $20,000 in auto lease payments, and more than $453,000 owed on a mortgage to a property in Mount Kisco, New York. Another $479,000 is owed to unsecured creditors.
According to Forbes, his monthly budget exceeds what he's spending. On an estimated monthly income of $5,000, his expenses are $5,221, which includes $1,000 on clothing and $500 on laundry and dry-cleaning.
DMX's next bankruptcy hearing is scheduled for October 8.
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