[JayMillz]

(07-30-2013 08:30 PM)lurker Wrote:  

He'd have a shitload more if he had spent the last decade following up on his turn-of-the-millennium megahits.

[germanico]

(07-30-2013 11:17 PM)MSW2007 Wrote:  

I don't know how album sales are faring but I'm guessing not well. On the other hand, if an artist makes a decent percentage of $0.99 MP3 downloads of pop singles, and millions are downloaded, they may still be doing quite well.

You need to read this:

"In five years, our three albums earned us a grand total of… $62.47."

And this:

"The band members have each earned about 1/3 as much as they would working at a 7-11, but they got to ride in a tour bus for a month."

[Giovonny]

The drugs got to him.

He's alright. It's not a murder charge.

This is for Grandma:

[Excelsior]

[quote='thegmanifesto' pid='502155' dateline='1375233466']
[quote]Filed Monday in the Manhattan bankruptcy court, the Chapter 11 petition of Earl Simmons, aka DMX, lists less than $50,000 in assets and $1 million to $10 million in debt.

The New York native and current South Carolina resident owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50% stake in property in Mount Kisco, N.Y.
[/quote]

This is what always sticks out for me with these kinds of stories (very common among rappers and NFL/NBA athletes who have "go broke" rates of 70%+).

How on earth do you manage to pull in such vast amounts of money and, when all is said and done, fail to own any property at all? Why are people like Terrell Owens (a man who has made $80 Million from football alone) still paying leases on homes and everything else? Why are multimillionaires like DMX unable to claim that they own (I mean actually own) their own home?
In fact, with that kind of money, why even bother with car leases either? Why not just buy the cars outright?

The kind of money these people make should allow them to attain a degree of freedom from debt and obligation to banks. This is the kind of money that should allow you to do away with mortgage payments and the like, allow you to move from tenant/mortgage serf to actual landowner fully in control of his land and obligated to serve/pay nobody in particular (save for taxes) in order to continue living there.

These people make enough to control their own destinies, and yet choose to remain serfs. They have the power to totally redefine the way their families live. Take a typical NFL athlete from a poorer background whose family has always struggled to make the rent wherever they live. Let's say this athlete "makes it", has a decent little career and manages to earn $12 million after all is said an done over, say, 8 seasons.

Even after we account for taxes, agents and other such obligations, that's enough money to purchase enough property to ensure that this athlete's children never have to pay rent. They can all own the houses/condos they live in, and own the cars that they drive.

Instead they choose serfdom, blow the financial advantage gained through the millions they earned and put their children and grandchildren right back where they started.

It would be funny if it weren't so unfortunate.

[LoveBug]

When I was younger I don't think there was a hip hop artist who was hotter. I was shocked to discover last year him doing mid-level clubs. Its been tough for him with the supposed drug habit and some time behind bars, hopefully it gets better

[LeBeau]

Maybe I'm stuck in the Golden Age and 90's a little bit, I didn't remember that DMX track that was in G's initial post, just his bigger hits.

But as soon as the beat dropped and he started rapping, I instantly thought:

"Why bother going over a beat that's been used so much, if you're not gonna flip it, and your lyrics aren't any better.."

Case studies:

Anyone else prefer the above links?

[Tenerife]

My question is: when is YMCMB going to fall off?

[blackglasses]

Been to hell and back
I ain't rich selling crack
I'd rather rob a nigga leave him with a shell up in his back

[TheMachinist]

YMCMB has outlasted every other rap label that was out in the 90's.Slim and Baby are street dudes for sure but they are very sharp business men.I don't care for all of their music but I got respect for their hustle...No-Limit, Bad Boy,Rocafella, Ruff Ryders, Deathrow,So So Def etc are all gone or barely hangin on.Most labels have historically had a shelf life but them dudes just keep reinventing themselves and signing new talent.

[booshala]

Props to Athlone on a well thought out post on the prevalence of rappers/athletes going broke. I've read up on this phenomenon and it's unbelievably sad how many of these guys get taken on a ride by acquaintances and people that they grew up with. This is coupled with their general unfamiliarity with financial instruments, so they're always trying to do dumb shit like setting up rap labels or clothing lines.

Shit, I wish I could get my hands on just one of these guys' money: 50% in tax free muni bonds and the other half in short term high yield ETFs. All but guaranteed to get 4-5% return with significant tax advantages and almost no risk. Not sexy like the $100m 50 cent made off his vitamin water deal but sustainable and viable.

DMX needs to get up on the Wesley Snipes tip and start making these straight to video movies to pay off some of that debt.

[thegmanifesto]

(07-31-2013 10:39 PM)LeBeau Wrote:  

Maybe I'm stuck in the Golden Age and 90's a little bit, I didn't remember that DMX track that was in G's initial post, just his bigger hits.

But as soon as the beat dropped and he started rapping, I instantly thought:

"Why bother going over a beat that's been used so much, if you're not gonna flip it, and your lyrics aren't any better.."

Anyone else prefer the above links?

Get at me Dog was DMX's first single.

It was actually written in '96 and came out in '98 so it could arguably be considered "Golden Age".

I don't mind when guys rap over the same beat as long as it's good. It is done all the time.

The sound and production on X's version are very different than the other two.

Get at me Dog (and DMX in general) remains one of my favorite artists to shadow box too or work the bags.

I mean, this track has some serious predator aggression.

Even the video is raw. It is pretty much the antithesis of a "champagne in the club" type video.

X to me was sort of like Tupac in that his appeal is his passion and rawness on the mic more so than his lyrical technique.

I can't think of anyone today that puts the same passion into it.

[Clyde]

If he could just stay sober. He could do 1 summer tour and be rich again.

[Giovonny]

(07-31-2013 11:57 AM)Athlone McGinnis Wrote:  

This is what always sticks out for me with these kinds of stories (very common among rappers and NFL/NBA athletes who have "go broke" rates of 70%+).

It's not just athletes who go broke.

More then half of all Americans are in debt. In fact, America itself is in deep debt.

I can understand how poor, uneducated kids can be bad with their money. But, entire city governments are bad with their money. The average American is bad with their money. The federal government has to print money just to survive.

The American Federal Government is close to going broke.

It's not just athletes and rappers. I expect athletes and rappers to go broke, they are mostly uneducated.

A few years ago the world financial markets almost collapsed due to the artificial housing bubble, mortgage fraud and bank fraud that was occurring.

To me, this is more intriguing some poor, uneducated people going broke. I know why they go broke.

I want to know how stuff like this happens:

The LIBOR 800 Trillion Dollar Banking Scandal

How do these guys get away with this?

(07-31-2013 11:57 AM)Athlone McGinnis Wrote:  

How on earth do you manage to pull in such vast amounts of money and, when all is said and done, fail to own any property at all?

Lack of financial education.

We all have gaps in our education.

DMX was highly educated in the ways of an alpha. He knew how to carry himself to gain the respect of the people around him, male and female.

Finances? He had no idea.

You have an Ivy League education in finance, etc.

But, your education on women came from this forum.

Many educated guys are blue pill betas. Many rich guys live beta lives.

The have the money but not the red pill knowledge.

We all have gaps in our education. DMX was simple uneducated in terms of money.

This millionaire killed his wife and is now headed to prison for life.

http://abcnews.go.com/US/murder-trial-mi...d=14532065

He was financially educated but uneducated in terms of women.

We all have gaps in our education.

[Giovonny]

Anthony Weiner could have been mayor of NYC but he was uneducated about the risks/rewards of "sexting".

He likely cost himself millions of dollars.

To me, his is more stupid then DMX.

Well, they are both stupid.

[Deacon0228]

I remember seeing DMX in the local Miami flea market literally buying out all the jewelry this middle eastern seller had available. You wouldn't have known it was him until you heard his voice which echoed a mile away, dressing like an average joe.

Him and the whole ruff ryders crew was the talk back in elementary/middle school for me.

fortunes can be won and lost in a blink of an eye. Its how you capitalize in those moments that sets you apart. Nas is one who id say survived the test of time.

[WestCoast]

Excellent post by gio. Can't use the quote function on mobile but basically all the info on education is dead on.

I would add: "most men are incorrectly taught how to seduce" so it is literally a double edged problem. You have to UNLEARN then RELEARN your belief system.

I envy the guys on this forum who swallowed the pill in their late teens. Less unlearning to do.

[DVY]

You can't cure stupid or crazy. It would be wise to stay away from both.

[CJ_W]

(07-31-2013 11:57 AM)Athlone McGinnis Wrote:  

[quote]Quote:

Filed Monday in the Manhattan bankruptcy court, the Chapter 11 petition of Earl Simmons, aka DMX, lists less than $50,000 in assets and $1 million to $10 million in debt.

The New York native and current South Carolina resident owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50% stake in property in Mount Kisco, N.Y.

This is what always sticks out for me with these kinds of stories (very common among rappers and NFL/NBA athletes who have "go broke" rates of 70%+).

How on earth do you manage to pull in such vast amounts of money and, when all is said and done, fail to own any property at all? Why are people like Terrell Owens (a man who has made $80 Million from football alone) still paying leases on homes and everything else? Why are multimillionaires like DMX unable to claim that they own (I mean actually own) their own home?
In fact, with that kind of money, why even bother with car leases either? Why not just buy the cars outright?

exactly, I mean with the money these dudes had they could have bought enough real estate to won the Monopoly board and bet SET FOR LIFE just on the tax breaks from appreciation! Imagine if DMX had bought like 50-60 200 unit+ apartment complexes in nice areas (New york, London, L.A. etc etc etc) with he money he had from his success. Hell the least he could have done is to hire a financial advisor (preferably one that many other rich people recommend since you'd be able to connect with them as well).

I mean look at Jordan, the dude OWNS a NBA basketball team!

Magic Johnson owns SO much stuff, restaurants, movie theatre chains, charities (yes he OWNS them) he probably owns real estate too etc etc etc. . .the guy is set for GENERATIONS, I mean his grandchildren's grandchildren will be set for their lives with all the assets this guy owns.

DMX couldn't make a simple phone call to Magic or MJ?

makes me shake my head!

Then he married and had a kid with a woman in America. . .

Yeah I don't think all american women are bad but. . .the dude was rich and famous. That's all you get drawn to you in the U.S. ARE those type of women at that point. He should have bought some real estate in the philipines and thailand(although I heard thailand doesn't allow foreigners to own property, so may just the philipines), and just lived like a king in relative anonymity without having to lift a finger!

[CJ_W]

(08-01-2013 12:31 PM)Giovonny Wrote:  

(07-31-2013 11:57 AM)Athlone McGinnis Wrote:  

This is what always sticks out for me with these kinds of stories (very common among rappers and NFL/NBA athletes who have "go broke" rates of 70%+).

It's not just athletes who go broke.

More then half of all Americans are in debt. In fact, America itself is in deep debt.

I can understand how poor, uneducated kids can be bad with their money. But, entire city governments are bad with their money. The average American is bad with their money. The federal government has to print money just to survive.

You have a good point there. But still, you'd think financial advisors would LOVE to get their paws on these guys and make money off of helping them KEEP their money

[Goldin Boy]

(07-31-2013 10:39 PM)LeBeau Wrote:  

Maybe I'm stuck in the Golden Age and 90's a little bit, I didn't remember that DMX track that was in G's initial post, just his bigger hits.

But as soon as the beat dropped and he started rapping, I instantly thought:

"Why bother going over a beat that's been used so much, if you're not gonna flip it, and your lyrics aren't any better.."


Anyone else prefer the above links?

Not really. I like D's version better. Totally different subject matter.


Technically he didn't sample EPMD. His producer sampled the same song they used. And about at least 8 other rappers have used it too:

http://www.whosampled.com/sample/view/62...or%20You)/

[RougeNoir]

from Party Up:

"You're wack, you're stupid, your girl's a hoe, you're broke, kid ain't yours, and everybody knows. Your old man says you're stupid and you be like, 'sooo, I love my baby mother, I'll never let her go."

Well, wtf X-man? You criticized someone who had a bad case of oneitis but you're having your own female problems needing to cough up a mil+ in child support. I expected the best out of you, DarkMan. You're still in my top 25 all-time though, no matter how broke you may become.

[LeBeau]

(08-01-2013 11:03 AM)thegmanifesto Wrote:  

I can't think of anyone today that puts the same passion into it.

Yeah, even though he's not one of my favourites, I can definitely agree he puts it all out there.

I used to watch this section before I would go skate, since he made it so hype (skip to 16:45):

@Goldin Boy:

Yeah, I'm aware how much B.T. Express has been sampled, their shit is classic, and it goes way beyond that track.

Obviously I know the intention wasn't to bite EMPD, you get my point. Same thing happened with "Nastradamus" and "Let the Funk Flow" and dozens of other songs between different artists/producers.

Sometimes you just feel certain versions more than others, that's all.

EDIT: For some reason when I try embedding with a time stamp, it just starts at the beginning of the video, anyone know how to fix this?

[eradicator]

(07-30-2013 11:17 PM)MSW2007 Wrote:  

(07-30-2013 11:11 PM)lurker Wrote:  

Yeah, but he was on top when people actually bought albums. What sort of royalty cash are today's artists getting in comparison?

I wonder about that too.

When I was a kid in the mid-90's cassettes at Media play costed about $10 and CDs costed $15-$20. What percentage of the sales were the artists getting then?

Compare that to today. I don't know how album sales are faring but I'm guessing not well. On the other hand, if an artist makes a decent percentage of $0.99 MP3 downloads of pop singles, and millions are downloaded, they may still be doing quite well.

even in the 60s, 70s, 80s, and 90s, musicians often said they maid all of their money by going on tours and performing concerts.

[Bolthouse]

Jay-Z and Eminem blew up a couple years after DMX did.

The guys who were big during DMX's time were Master P, Ja Rule, and the Cash Money Millionaire guys like Juvenile, BG, and Lil Wayne.

The only one who is still around is Wayne, who reinvented himself to stay on the top.

Gmanifesto is right on, his biggest downfall is due to the times he was big.

[Juan_Antonio]

(08-02-2013 12:51 AM)LeBeau Wrote:  

EDIT: For some reason when I try embedding with a time stamp, it just starts at the beginning of the video, anyone know how to fix this?

I am having the same problem. Has anyone solved this? The only solution i can see is not embedding the video and just attaching it as a hyperlink. It will take the reader to youtube, but at least it will start the video at where you specified.

Edit: apologies if ive posted this is in the wrong section (i did a title search but nothing came up).