Snoop Dogg has revealed that he once nearly filed for bankruptcy.
During an interview on the Business Untitled podcast, the current Death Row Records owner detailed past financial hardships and what stopped him from filing for bankruptcy.
“There were times in my career where it got so bad my accountant was like, ‘We should just do bankruptcy,'” he said. “My pride got involved. Fuck that. If I say bankruptcy then I look like I fucked off everything.
“They started telling me, ‘Well, this artist did it and this person did it.’ I said, ‘None of them muthafuckas Black! You ain’t name nobody that look like me!’
He added: “They can do that shit and get back in the game and it won’t look crazy. When we do it, ‘Oh, that n-gga fucked off his money, he ain’t shit.’ So now we gotta start three feet behind the line again.”
Snoop also called for greater teaching of financial literacy in schools and colleges, particularly among athletes.
“You got these athletes, you teaching them how to run routes, how to dunk, do interviews and convert into analysts after they finish their career; how about teaching them to be businessmen at the end of their career?” he said.
Watch his comments at the 13:20 mark below.
If Snoop Dogg had filed for bankruptcy, he would not have been the first high-profile rapper to do so.
50 Cent filed for bankruptcy in 2015, which he claimed was done for “protection” after he was ordered to pay out many millions after losing two lawsuits.
The G-Unit mogul was forced to cough up $17 million to Sleek Audio for breaching a headphones partnership and was also obliged to pay $6 million to Lastonia Leviston after he posted a sex tape of her during the height of his feud with Rick Ross.
Since closing his bankruptcy case in 2016, 50 has rebuilt his entertainment empire through producing the hit TV show Power and its many spin-offs, starring in movies such as The Expendables 4 and embarking on a sold-out world tour.
50’s bankruptcy filing also led to revelations about his finances including the amounts he was paid for movie roles, as well as his monthly income from royalties and what he spent on gardening.
MC Hammer also filed for bankruptcy in 1996 after allegedly spending his $30 million fortune.
The “Can’t Touch This” hitmaker’s financial plight was infamously mocked by JAY-Z on Kanye West’s posse cut “So Appalled” where he rapped: “And Hammer went broke so you know I’m more focused/ I lost 30 mil so I spent another 30/ ‘Cause unlike Hammer 30 million can’t hurt me.”