Lil Wayne has taken out a $1.5 million loan to help pay for the $2 million he owes to a private jet company, TMZ reports.
The New Orleans rapper is using his private Miami skate part as collateral.
The site says this means that Lil Wayne will retain the artwork and other possessions that were taken by police when they raided his home earlier this month. They reportedly took signed football helmets and at least one of his Cash Money plaques.
For additional Lil Wayne coverage, watch the following DX Daily:
So if you are worth $150 million, couldn’t you just pay $1.5 million out of pocket?
lol.he just lives a luxurious life in his videos.He got nothing better
worth doesnt = liquid cash. clearly he aint as rich as everyone thinks. baby owns them cars.
I wouldn’t pay 1.5, if i had 100 million either, its a smart move cause thats money that birdman owes Wayne anyways so why not stall and wait till that 51 mil come from baby and pay that loan back….smart move by Mr.Dwayne Carter. Build that credit up big time.
That is assuming that he gets the $$$$ from Birdman. A lot of people thought Pusha was hatin but he was telling the truth.
Exodus is one of the best disses of all time*push was spittin facts*long live the 80s & 90s*
Lil Wayne sure made alot of money for Baby. Hes a good Lil whore I guess lol
thats a hell of a smart move. They first came and took his artwork while he wasn’t home. He kind of told them who the fuck you think you are taking my priceless shit when I got plenty ways to repay you fuckers. So he got a loan out of his wood warehouse (aka skatepark) for 1.5mil and took 500k out of his pocket like its nothing and throwed it to their face and got his artwork back. That way it didn’t affect his net worth at all, he got a real cheap loan cause its still real estate backed and cause he’s weezy , and he still works his tricks in his skatepark middle finger up . He basically paid them out wood he still owns and still uses. basic finance. GENIUS
Yeah paying money you owe with money you borrowed… finance genius. That’s why motherfuckers like you have more liabilities than you do assets.
Oh that is what you understood from my post. Come on stop being such a simple basic human…
Educated motherfuckers like myself allow dumb motherfuckers like yourself to actually have their money yielding something , so first of all STFU. Now what the hell do you know in the field of asset management. You probably think he would’ve been better off with a 2milion cash gap in his books ? instead of having a near to 0% interest real estate backed loan , for him to amortize as he pleases. Its real estate backed and its weezy involved. He kind of gets to the bank and sets its own terms, since he’s worth 150+ mils … I doubt someone will ever question his credit history, or fear any default of payment. (at a bank I mean not at jet leasing company)
Now obviously it would be a very hazardous idea for you to follow this way of doing business since you are nobody and no one lends to a nobody at attractive conditions. Believe me not everyone is equal despite what you might have learned in your naive years.
So Stop thinking that just because someone contracts a loan to pay something, it means that he couldn’t afford it otherwise. That is why you my dear friend Diz must be broke as fuck if you do not even understand this concept and think that it leads to having more liabilities than assets…read books my friend
oh shit WAYNE did you over spend bro? Bro if you spend over 100 mil You’re crazy as fuck
Is this the same guy tht screamed ymcmb*what happened*only a handful of rappers can talk tht money shit & never have any financial difficulties*long live the 80s & 90s*