Although they receive extremely large advances that would enable them to make sound financial investments, many artists and athletes alike, blow through all of their money, and fail to create generational wealth. Looks like Tekashi 69 is part of that statistic.
Back in December, 6ix9ine was hit with a civil lawsuit for his involvement in a 2018 armed robbery. The plaintiffs, Seketha Wonzer and Kevin Dozier, say the 25-year-old rapper was present when his Trey Nine Bloods associates ambushed them on April 3, 2018 in Manhattan.
The victims, who also work as publicists, say they were in the studio when five armed men pulled up in an SUV, and demanded them to get on the ground before taking their belongings.
The plaintiffs say they were ambushed because 6ix9ine and his fellow gang members mistakenly believed they were affiliated with J. Prince’s Rap-A-Lot Records. 6ix9ine pleaded guilty to this crime, and other charges, as part of his deal with prosecutors during his racketeering trial.
In a sworn declaration to the judge overseeing the case, 6ix9ine revealed that he’s “struggling to make ends meet.”
“Right now, I am struggling to make ends meet. I do not know if I will ever command the kind of advances I was paid before my arrest, and my career stalled,” 6ix9ine claimed, per court documents obtained by Complex.
The Brooklyn rapper says his record deal with TenThousand Projects expired last month, as well as a merchandise deal.
“I did receive large advances under the recording artist and merchandising agreements prior to my arrest,” he states in the documents. “However, I do not receive any royalties under those agreements either since my royalty accounts remain unrecouped.”
6ix9ine maintains that any unfavorable verdict could potentially leave him bankrupt.
“It will surely bankrupt me in a way from which I will never recover to the permanent detriment and hardship of the family members who rely upon me,” he stated.
I doubt Tekashi is broke, but humility is definitely smart in this case. Chances are his money is tied up in trusts and business accounts.
Besides, he was just in Tulum, Mexico dining 5 star and living his best life on vacation with one of the hottest chicks on the planet. The same woman he gifted $100,000 for her birthday.
Wishing him and everyone else the best.
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