Soulja Boy is facing financial hardships, according to a judge. Soulja Boy was attempting to have a six-figure judgment thrown out due to struggling with money, only to find out he actually is.
According to RadarOnline.com, Soulja Boy’s argument was not convincing, and he is still on the hook to pay his ex-girlfriend Kayla Myers for an alleged assault. Myers stated that Soulja Boy hit her head with a gun at a 2019 house party. Soulja Boy has been ordered to pay $472,000. Half of the total is for damages, and the other half is for punitive damages.
Soulja Boy currently rents a Los Angeles home for $25,000 a month. In addition, he has a car collection that as worth $600,000 when he purchased them and $18,000 in jewelry. The rapper does not own any property.
Soulja Boy currently makes $10,000 to $50,000 a show, but a $1 million tax debt counters that.
After analyzing the details, a judge noted the rapper’s “net worth is negative” but still awarded Myers her payment.
“While it is not clear that defendant could just snap his fingers and book as many shows as he would like, neither is it clear that he cannot work at all. It might not be the work he wants (and he might not be headlining), but the court has no reason to believe that he cannot perform at all,” the judge said.
The judge also suggested the rapper moves to a more modest home around $10,000 a month.
DeAndre Cortez Way, publicly known as Soulja Boy, has been an influential figure in the music industry for over a decade. From his breakthrough hit “Crank That (Soulja Boy)” to his entrepreneurial ventures, he has left a mark on the hip-hop industry. However, behind the fame and success lies a significant financial challenge – Soulja Boy’s tax debt.
In recent years, Soulja Boy has faced legal and financial battles, with one of the most pressing issues being his tax debt. According to reports, the artist owed a substantial sum to the Internal Revenue Service (IRS) due to unpaid taxes. This predicament highlights many high-earning individuals’ common struggle in managing their finances and tax obligations.
The IRS relentlessly pursues unpaid taxes, and failing to address the issue can lead to severe consequences, including penalties, liens, or even legal action. Managing such financial obligations becomes crucial for an artist who has enjoyed significant commercial success.
The tax debt issue undoubtedly challenges Soulja Boy’s financial stability and career trajectory. Financial strain can limit his ability to invest in new projects, jeopardize his personal assets, and hinder his overall financial well-being. Additionally, it can tarnish his public image and credibility, leading to potential difficulties in securing partnerships or endorsement deals.
Resolving tax debt requires careful financial planning and cooperation with tax authorities. Soulja Boy’s team of financial advisors and attorneys are likely working diligently to negotiate payment arrangements and potentially reduce the overall amount owed.
Soulja Boy’s tax debt serves as a cautionary tale, emphasizing the importance of proper financial management for individuals in the entertainment industry and beyond. The struggle to balance personal finances and meet tax obligations is a common challenge high-earning individuals face. As Soulja Boy navigates this financial bump in the road, it is a reminder for all of us to stay vigilant and responsible regarding our financial affairs, ensuring compliance with tax laws and seeking professional assistance when needed.
