Rappers Are Bad With Money #342,626 (Ludacris edition)

[GUCCI CONDOMS]

board full of financial guru's.

why the fuck do i pay people to help me guard my shit?
i should just come here to get my financial advice.

PM me bro if you wanna make the money that allows you to live life in the fast lane in the UES

[myself]

Hollywood movies don't make profits. Why do you think producers, authors of source material, and other profit participants are always suing? I remember the guy who wrote the Forrest Gump book sued and was told he didn't get royalties because the movie lost money- because in Hollywood accounting every movie loses money. Probably not much different from music industry accounting and recouping before additional sales royalties.

Ludacris was the 9th-billed actor on Fast and Furious 6. It had a $160 million production budget, not counting promotion. It filmed in 2012. it obviously didn't make a profit domestically, but in real life the overseas money was huge and hugely profitable- but I doubt it shows much of a profit in accounting and I doubt the 9th actor is getting much.

When you are self-employed, income can vary quite a bit. He COULD be earning a lot more doing shows, but that doesn't mean he is. He's probably just focusing on acting and doesn't really have a need to do other work if he doesn't feel like it or doesn't feel like doing just to inflate his already high child support payments.

Income doesn't equal assets. And if you have assets (not saying he does or doesn't), not making income doesn't mean you are dead broke. I could make $0 this year, pay all my bills and feed my kids. I'd rather not but it's doable. And no, I'm not rich, but I'm self-employed and I've had years that were like 5% of the previous year.

[ackbar]

i doubt any of us are familiar with what luda's deal was with fast & furious was. it's still possible he made very little off those last year

if you think the last two fast movies are still in the red tho.. you're insane

[GUCCI CONDOMS]

i doubt any of us are familiar with what luda's deal was with fast & furious was. it's still possible he made very little off those last year

if you think the last two fast movies are still in the red tho.. you're insane

if they were in the red they wouldnt be making sequels, period...simple as that

[TheTed]

Gross income does not equal net income. Neither of those equal taxable income, neither of those take into account assets, capital gains or capital losses and it's almost a certainty that any contract Christopher Bridges signs to provide services (be it acting, rapping, publicity whatever) is not signed in his personal name, but rather through a loan out company, and anything that reaches him personally will have gone through a substantial income and tax minimisation process beforehand.

TLDR; shit's complex and none of us have any idea what Luda's earnings are.

[dubs]

Waiting on these royalties takes too long, it's like waiting on babies.

[sleazy_j]

Update.

http://www.ibtimes.com/ludacris-wants-t ... ughter-cai

First, rapper Ludacris claimed Paul Walker’s untimely passing in December destroyed his finances because filming for “Fast and Furious 7” was halted. As a result, Ludacris said that he wasn't able to pay the mother of his child, Tamika Fuller, $15,000 a month in child support.

sounds like he was depending on those checks.

Now the Atlanta rapper, who is cast in the franchise film, is arguing for full custody of their 2-month-old daughter, and he wants Fuller to pay him child support. Fuller initially asked that Ludacris pay $15,000 a month to support Cai, TMZ reports.

15,000 a month for a 2-month old child. figure that one out.

Ludracis told the judge that he can't afford to pay that amount because he was going to use the money he made from “Fast and Furious 7” to make his child-support payments. Production of the movie has been stalled since Walker was killed when the Porsche Carrera GT in which he was a passenger crashed into a tree and burst into flames.

that says something right there about F&F earnings, if he can clear $15,000/month for child support off of it while it isn't even out yet.

Ludacris, who said he made just $55,000 last year, claims that he's only able to afford $1,800 a month for child support payments. Forbes put his net worth around at least $12 million. The judge ordered that Ludacris pay $7,000 a month.

shit, even setting aside 1800 for child support must be nice.

Over the weekend, Ludacris said in legal documents that he should get full parental custody because he's a “fit and capable parent.” The 36-year-old rapper said that he has always been an “active father.”

yeah i just saw his facebook page and there's videos of him with his daughter all over it.

[step one]

Hollywood movies don't make profits

That explains why you often see Tom Hanks shotting bootleg copies of Captain Philips outside Starbucks.

Jus doin it 4 tha love of tha game.