Rapper and Kardashian-adjacent celebrity Tyga has a cash flow problem. Though he’s known for splashy purchases and bragging about his fancy expensive cars on social media, including a recent Instagram post featuring bundles of wrapped $100 bills, Tyga isn’t nearly as well off as he wants fans to believe. In fact, Tyga was in such dire financial straits a few years ago that he filed for bankruptcy.
According to Radar Online, Tyga, whose real name is Michael Nguyen-Stevenson, filed for Chapter 13 bankruptcy in December, 2010. Chapter 13 bankruptcy allows debtors to arrange a payment plan to pay off creditors over a three to five year period. Reportedly, Tyga’s financial woes started with a house he rented in Tarzana, California. Tyga fell behind on the rent, to the tune of over $88,000. The landlord of the Tarzana rental house sued Tyga and won when the rapper failed to appear in court. But Tyga never paid off the judgement against him, and by December, 2010, the debt had ballooned to over $123,000.
When he filed for bankruptcy, Tyga listed his assets as between $0 and $50,000, well below the amount needed to make good on his housing debts.
It gets worse. Reportedly, Tyga neglected to file the appropriate paperwork to secure the Chapter 13 bankruptcy, so the entire thing was denied. Which means none of the $123,000 debt was wiped away, and Tyga had to pay it all off.
Tyga’s money woes don’t end there. According to TMZ, Tyga was hit with two major debts in 2015. In September, 2015, the State of California hit Tyga with a tax lien for $19,000 over issues with his 2009, 2010, and 2011 taxes. That’s in addition to a $75,000 bill for back rent in the same pricey Calabasas neighborhood where his long-time girlfriend, Kylie Jenner, lives. In November, 2015, a Los Angeles judge ordered Tyga to pay dancer Allison Brown $25,000 he still owed her for a lawsuit settlement, plus nearly $16,000 in lawyers fees. There’s no doubt about it, Tyga’s financial situation is not anywhere near as secure as he wants fans to believe.
Yet, the rapper hasn’t scaled back his lifestyle. In fact, since they began dating in 2014, Tyga seems to be struggling to keep up with the expectations of his jet-set girlfriend, Kylie Jenner. According to TMZ, Tyga is spending $35,000 a month on a swanky bachelor pad overlooking the Sunset Strip, nearly an hour drive to Kylie Jenner’s home in Calabasas.
This isn’t the best time for Tyga’s finances to be out of control. According to Hollywood Life, Tyga is gearing up to fight for full custody of King Cairo, the son he shares with Blac Chyna. Reportedly, Tyga is concerned about King Cairo’s safety following Blac Chyna’s arrest for public intoxication and drug possession. Whether he wins or not, an expensive court battle is likely in Tyga’s future.
There’s no doubt about it, Tyga needs an infusion of cash, and he needs it fast. Where does a midlevel rapper with a mountain of debt and a rich socialite girlfriend find money? The answer might not be what you think.
According to InTouch Weekly, Tyga has been secretly planning a tell-all book to expose the deepest secrets of the Kardashian-Jenner clan and buy his way out of debt. Reportedly, Tyga and Kylie Jenner’s relationship has been on borrowed time since their short-lived November, 2015, break up, leaving him with nothing to lose by writing a scandalous book.
As previously reported by the Inquisitr, Tyga teased reporters in December, 2015, by saying that he wouldn’t spill any details on his relationship with Kylie Jenner unless they were willing to pay for it. At the time that seemed like a cute way of dodging the question, but was it really a business proposition?
[Photo by Mark J. Terril/Associated Press]