21-year-old Rapper's Birthday Gift to Himself: $55 Million Jet

Discussion in 'Off The Beaten Track' started by overedge, Jul 29, 2011.

  1. overedge

    overedge Well-Known Member

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    Last edited: Jul 30, 2011
  2. susan6

    susan6 Well-Known Member

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    I've got two words for him:

    Stop! Hammertime.
     
  3. myhoneyhoney

    myhoneyhoney Well-Known Member

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  4. susan6

    susan6 Well-Known Member

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    Yeah, "You can't touch this" was ridiculously catchy, but I'm thinking more in terms of how Hammer proceeded to spend ridiculous amounts of cash afterward on himself and his entourage and wound up going bankrupt. Hey, Soulja Boy....sound the bell, school's in, sucka.
     
  5. BigB08822

    BigB08822 Well-Known Member

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    This is how people have millions of dollars one year and are bankrupt the next. Who knows what the pilot will cost.
     
  6. myhoneyhoney

    myhoneyhoney Well-Known Member

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    Yeah, I remember that too. I'm not too far from the huge house he built in Fremont, CA!
     
  7. rudi

    rudi Well-Known Member

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    Ha! True dat. :cool:
     
  8. KCC

    KCC Active Member

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    Our financial adviser is a former pro football player (yes, a few of them are pretty smart) and he told us that within 2 years of retiring from play, 79% of pro football players are bankrupt. Top reasons he gave were 1) agents that keep egging them on to spend and that "another deal is just around the corner", 2) a high rate of divorces right after retiring, and 3) just bad planning/investing.
     
  9. Louise

    Louise Banned Member

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    He probably just put down a $2M payment, and will back out after a few months. I see bankruptcy court in the near future for him. Insane.
     
  10. Gazpacho

    Gazpacho Well-Known Member

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    They've also gotten used to a lifestyle that's hard to give up. They suddenly go from earning millions a year to not having a paycheck, and it's hard for them to make the corresponding sudden lifestyle change, especially when their social circle (e.g., still-active teammates) continues to live that lifestyle.
     
  11. Yehudi

    Yehudi Well-Known Member

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    Not to mention the out of wedlock children many of them have. One former Bills running back has 9 kids with 9 different mothers and couldn't keep up with payments toward the end of his career.
     
  12. Cheylana

    Cheylana Well-Known Member

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    Also, a lot of them come from poor families and have a million relatives coming out of the woodwork expecting handouts, and they feel obligated to take care of the whole family. You can only support so many people, even if you are making millions. Plus in the NFL the money is usually not guaranteed so if you get injured you are SOL.

    As for the rapper's airplane purchase: :rolleyes:
     
  13. milanessa

    milanessa engaged to dupa

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    Parking fees at a small airport aren't so bad. He can live in it if he loses everything else. ;)
     
  14. Veronika

    Veronika gold dust woman

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  15. BigB08822

    BigB08822 Well-Known Member

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    I am glad to hear it is not true. First, I don't believe he has that much money. I know he is relatively well known for a song or two but outside the US I don't know that anyone knows who he is. There is just no way he made that kind of money off of his album and single sales, not in this economy and with what record sales have been.
     
  16. Cheylana

    Cheylana Well-Known Member

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    Yes, it's a relief!