R. Kelly’s financial status will shock you

Singer R. Kelly. Photo: Instagram/@rkelly

Embattled R&B crooner R. Kelly’s career, image and life are already in abject shambles these days. And, as most pop culture fans have long suspected, Kelly’s finances are on the list of things that are in a perilous condition.

After creditors came in and scooped up the last vestiges of R. Kelly’s wealth, he was left with a balance of negative $13, according to The Blast.

As has been previously reported, R. Kelly was arrested and had to languish in jail on two separate occasions this year because he didn’t have the money to bail himself out. He remained in confinement until female fans provided the $100K bail on the aggravated sexual abuse charges and, on the second occasion, to pay off his outstanding child support to his ex-wife, Andrea Kelly.

This past week, a creditor seized the last $150K he had in his account, according to The Blast. 

The publication got ahold of documents from Wintrust Bank where Kelly holds an account. The bank reportedly informed one of his creditors that Kelly’s account is now in the red.

The Blast also managed to get information on two other accounts in Kelly’s name. These were from Bank of America. It reportedly had holdings of $44,595.58 and $110,056.64, for a total of $154,527.22. Those accounts have also been wiped clean, save $625, by a former landlord to reconcile the enormous debt Kelly had.

The landlord got a judgment in his favor from the courts after he filed suit against the “Step in the Name of Love” lyricist for outstanding debt owed.

And, here’s the kicker. The landlord is not done collecting from R. Kelly.

Here’s how R. Kelly’s current situation breaks down:

The landlord got a $173K judgment against Kelly. So far, the landlord managed to get $154, 527.22 of the total amount owed. Subpoenas have been sent to multiple places where Kelly either earns or stores his money in order to collect on the remaining amount, plus interest, in the very near future.

Things are looking very bleak for Kelly here as well: ASCAP (the American Society of Composers, Authors and Publishers), which collects money for artists, reported to the creditors that Kelly is not getting any money from them anytime soon. And since many American radio stations have officially or unofficially banished R. Kelly’s music from their rotation, Kelly will not be able to raise any money from royalties to go towards his legal defenses, his child support, or to simply live.

 

Terry Shropshire
Terry Shropshire

A military veteran and Buckeye State native, I've written for the likes of the Atlanta Journal-Constitution, Atlanta Business Chronicle and the Detroit Free Press. I'm a lover of words, photography, books, travel, animals and The Ohio State Buckeyes. #GoBucks