Is Bow Wow broke? Yesterday the rapper/actor, formerly known as "Lil Bow Wow", embarrasingly revealed to a judge that he has just $1500 in a checking account and is unable to afford child support payments for his baby daughter Shai. Bow Wow's financial troubles are shocking when you recall that the 25 year old "retired" from rap three years ago because he had "accomplished everything in music." It's unbelievable that someone who has sold millions of albums, had 10 hit singles and starred in dozens of television shows and movies would be flat broke. But as we learned yesterday with our list of broke athletes, anything is possible nowadays…
Bow Wow / Brad Barket/Getty Images
In a court filing yesterday, Bow Wow claimed he could not afford to pay $3000 a month in child support to his daughter Shai and ex-girlfriend oie. Bow Wow explained that his entire monthly income is $4000, which he receives as a roster artist for Cash Money Records. Bow Wow further explained that he has exactly $1500 in his checking account and is currently leasing a Jeep. His income will get a much needed boost now that he has been announced as the new host of BET's "106 & Park", but clearly Bow Wow is in some murky financial waters. The judge eventually ordered Bow Wow to pay the full $3000 a month child support plus $11,500 in back payments.
Yesterday's news comes almost exactly a year after a New York Post blind item alleged that the rapper drove a $200,000 Bentley to his agent's office where he begged for money because he was "dead broke" and couldn't afford a $5000 child support judgement. A few weeks later Bow Wow vehemently denied reports that his Bentley had been repossessed, but at the same time TMZ discovered that the rapper owed more than $91,000 to the IRS. Recent court documents also show that Bow Wow owes $283,000 to a company that leased him a Ferrari F430 in 2008. The Ferrari was repossessed in February 2009 because the rapper stopped making payments.
In an ironic twist of fate, Bow Wow should probably start trying to win the lottery for real…
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