R. Kelly was once upon a time the 'King of R&B'. The singer released hits such as 'I Believe I Can Fly', and 'Bump N' Grind', allowing him to make quite the fortune. How much of a fortune you might ask? Try a net worth in excess of $115 million!
Reports claim that the singer could have easily been worth over $200 million today, however, that all became impossible the moment his career and reputation came tumbling down. After a series of sexual abuse and harassment allegations made against the singer, he was officially arrested in 2019.
It's no surprise that many celebs go broke during their lifetime, however, fans can't fathom how someone can go from being worth over $100 million to only having a mere $100,000 to their name. So, how did it all happen? Let's dive in!
Updated on July 24th, 2021, by Michael Chaar: R. Kelly's career and reputation all came crumbling down when his past actions involving sexual abuse and harassment finally surfaced. After years of allegations, R. Kelly was officially arrested in 2019 and has been in prison since. Despite requesting an early release due to being beaten up behind bars, R. Kelly won't be going anywhere now that he's received more allegations regarding the abuse of underage boys. Due to his ongoing legal battles, and past issues involving taxes, R. Kelly dropped from $100 million to $100,000. Yikes!
An R&B Icon No More
All through the 1990s and 2000s, Kelly had a string of hit albums and singles, including 12 Play. He wrote songs for A-list singers like Stevie Wonder. Kelly even went back to playing basketball, signing with the Atlantic City Seagulls. He was so good that his contract allowed him to take time off for his music when he deemed it necessary!
R. Kelly was certainly on top of the world during the height of his career, allowing him to amass a whopping net worth of over $115 million, which all became possible following his massive success in the industry. Despite things all working out in his favor, there were far too many problems for the singer to just get by that easily.
The Accusations
Since the 1990s, Kelly has faced accusations of sexual abuse, often of underaged children. He strenuously denies it. Finally, in 2019 he was arrested on federal charges, including human trafficking, child pornography, and obstruction of justice.
That's why he's currently cooling his heels at the Metropolitan Correctional Center in Chicago. He's spent a fortune on lawyers and hush money over the years.
As far back as 1996, Kelly faced accusations of underaged sex from one Tiffany Hawkins. Vox reported he paid her $250,000 to go away. And there were others. Many others. It's impossible to say how much he has blown on out-of-court settlements over the last 20 years or so.
The Divorce That Bled Him Dry, And The Pesky IRS
His divorce from wife Andrea Lee in 2009 cost him, big time. Kelly ended up losing a big chunk of his earnings in the nasty divorce. He was forced to give Lee a one-time $1 million payment, plus $250,000 a year in child support. And that's before you even get to the $10,000 a month in alimony he had to pay.
Plus, the wrangling over money went on for 10 years, costing Kelly a fortune in legal fees. At one point, his divorce lawyer quit. Why? Well, he hadn't paid her in a while!
R. Kelly neglected to do basic things like paying his taxes. At one point, it is estimated that he owed the IRS some $20 million. And, trust us, those penalties mount up fast. Cash flow became such an issue, that he lost his home in foreclosure.
In 2019, he was arrested for owing some $160,000 in back child support payments. By that time, his income had been drastically reduced. Let's face it, his records just weren't selling and he didn't have any capital or savings to fall back on.
To put it bluntly, R. Kelly was broke, and we mean broke-broke!
R. Kelly's Cast Gets Worse!
So, R. Kelly is currently locked up in Chicago facing federal charges including obstruction of justice and child pornography. Recently, he went back into court, trying to earn his release. Why? Seems an inmate beat him to a pulp and (he claims) nobody lifted a finger to help him.
The judge told him to go back to jail. Oop! These days, some put his net worth as high as $100,000, however, it's clear he'll be needing some of that cash yet again.
Last week, it was revealed that R. Kelly was being charged with even more crimes, this time it's dealing with an underage boy. The singer has now been accused of abusing a 17-year-old boy he met in McDonald's, sparking uproar across the nation.
While no news has yet to be released regarding what this means for his case and prison sentence, fans are certain that this will not play out in his favor, and rightfully so!