According to a report, Soulja Boy‘s new worth is now negative. Amidst the “Crank That (Soulja Boy)” rapper’s legal battle with his ex-girlfriend, a judge suggested that he cut his expenses to pay his $472,000 USD judgment due to his current fiscal standing.
Court documents note that a Los Angeles Superior Court judge denied Soulja Boy’s motion to have the $472,000 USD judgment thrown out. The civil case revealed that the rapper currently has little money in his bank account and a $1 million USD tax lien. The judge deemed Soulja Boy’s net worth as negative due to a failure to provide his financial records to the court, though the court believes that the rapper is capable of generating income to deal with his debt.
Suggesting that he cut his living expenses, the judge said, Someone as close to zero (financially) as defendant [Soulja Boy] claims to be might want to scale down the living arrangements. $25,000 is a lot of monthly rent—even in Los Angeles. There is no reason for which the court is aware that he could not relocate to a more ‘modest’ $10,000/month home. Further, the court is aware of no debts that the defendant owes other than the tax debt and the judgment here.”
Adding, “Defendant [Soulja Boy] must be earning money from somewhere sufficient to pay for the rent and whatever other monthly expenses he has. In other words, the defendant is paying $300,000/year in rent alone. It stands to reason that he must have some other living expenses. And that money must come from somewhere. It is not coming from loans, for the defendant did not testify as to any other debts.”
The documents further revealed Soulja Boy’s current limited assets, three cars valued at $600,000 USD, $18,000 USD in jewelry, and $50,000 of stock. Soulja Boy’s lawyer noted that the rapper cannot liquidate his assets as they are vital to his image as an entertainer.