Lil’ Kim went bankrupt after choosing not to snitch but a good friend helped her out.
Jermaine Dupri once said that “money ain’t a thang” but for Lil’ Kim right now it’s everything.
According to Billboard, Kimberly Jones, who prefers to go by Lil’ Kim, was sentenced by a New York judge to serve a year and one day in federal prison because of lying to a federal grand jury. In 2001 there was a shootout outside a Manhattan radio station and Lil’ Kim perjured herself in court in order to protect her friends. She also had to pay a fine of $50,000.
Once she had served her sentence, Lil’ Kim seemingly tried to reinvent herself and sought more diverse projects including acting gigs. In 2009 she appeared on ABC’s “Dancing With The Stars” with Derek Hough as her partner. But her financial image needed more than just reinvention – it needed an overhaul.
According to Forbes, that same year it was reported that Biggie’s protégé owed more than $1 million in state and federal back taxes. According to Kim’s spokesperson, the artist was working on reducing her debt.
In 2018, Kim filed for Chapter 13 protection in New Jersey, reported NY Daily News. She owed $1.84 million in back taxes. The bank was foreclosing on her Alpine, New Jersey home because of missed mortgage payments - she was required to pay $10,155.47 monthly. At the time of the filing, Kim owed her creditors $4 million.
The rapper managed to keep a roof over her head. According to The Blast, she is required to provide the court with a monthly breakdown of her income and expenses. The news site got a hold of Kim’s December 2018’s financial documents, which revealed still enjoys the finer things in life though she is broke.
Kim reportedly spent $3,000 on Lyft rides; $1,300 at a furniture store; $2,000 at Overstock.com; $604 on Kylie Cosmetics; $1,500 on rental cars; $650 for an Airbnb, and $1,700 on hotels. For her income, the “Nasty One” rapper listed $4,600 from music royalties and a $25,000 loan from Missy Elliott.
Missy and Kim go way back, and she has always referred to the femcee as her sister. It makes sense that Missy would help out her friend when she was in need.
Kim has never openly addressed her financial woes. Once she filed for bankruptcy, however, she shared a positive message that may have been directed at her problems.
“I got something for all y’all. You can’t quit. If you’re God’s child, you can’t be touched, boo. Y’all can get all the voodoo dolls y’all want. It ain’t gonna happen.”
Kim’s love life has not fared much better than her finances. She shares a daughter with rapper Mr. Papers, Royal Reign Jones. Papers, whose real name is Jeremy Neil, took the artist to court, claiming that Kim was keeping their daughter Royalty away from him. Kim filed her own suit, accusing Papers of physical abuse.
Hopefully, Kim has more good friends like Missy in her life who’ll rally around her as she sorts her life out.