What is R Kelly’s net worth?
Kelly is an American musician, singer, actor, and record producer. The net worth of R Kelly is less than $2 million. In his prime, his net worth was around the tens of billions and could be even $100 million. In April 2020, Kelly revealed to a judge in his argument for his release from prison that he owed $1.9 million to IRS in the first instance.
For a more in-depth analysis of the details. Please read a few more paragraphs about Kelly’s financial woes and his peak performance.
Early Life and Career Beginnings
Robert Sylvester Kelly was born on the south shore of Chicago on the 8th of January in 1967. He quit high school to work as a subway musician. He scored his breakthrough when he took home $100,000 on the talent show on television called The Big Break. Kelly was signed to Jive Recordings in 1991, then came out with the single “Born into the 90s” and His Group the Public Announcement in 1993.
The album was released in November 1993. R. Kelly released his debut solo album “12 Play.” The album was largely due to the hit single “Bump n’ Grind,” the album was certified platinum six times.
Then, Kelly began a career recording album for artists. He was the producer and writer of the entire debut album for the teen pop star Aaliyah.
In 1995 the album “R. Kelly” sold 4 million copies. The following year, his track “I Believe I Can Fly” reached the top of the charts and was awarded 3 Grammy Awards. Kelly released a string of multi-platinum records in the early 2000s, as well as in the multi-part hip-hop musical “Trapped in The Closet” that he gave on the radio in small portions. The final part of the album was released to the general public at the beginning of 2010.
R Kelly has released 14 studio albums, five compilation albums, and three collaborative albums. In addition to 3 Grammys, Kelly has won numerous awards, including many AMAs, BET, and Billboard awards. The most recent albums, “Black Panties” and “The Buffet”, were released in 2013 and 2015, respectively. He also participated in 12 official tour dates worldwide from 1994 until 2013.
Personal Life and Controversies
When he was in 1994, Kelly was secretly engaged to Aaliyah; however, the wedding ended up annulled. Kelly then got married to the dancer Andrea Lee in 1996. They had three children before divorcing in 2009.
R Kelly’s career has been characterized by numerous controversies throughout the decades. He was charged and arrested for allegedly having sex with a minor girl. He was eventually cleared from all charges.
A Lost Fortune
If R. Kelly had never experienced any legal troubles and had he not been a victim of legal issues, his net worth would be between $50 and $100 million. Over the many years, Kelly has reportedly paid thousands to settle hundreds of lawsuits brought by women who claimed the star victimized them. Kelly has reportedly lost a significant part of his wealth due to getting divorced from Andrea Lee, his wife, between 1996 and 2009, which was the most lucrative period in his professional career.
It was found that Kelly was owed $5 million in taxes that were not paid in seven years. In 2013, he lost his Chicago home to foreclosure after discovering that he had not paid his mortgage since 2010. In 2018, the homeowner was exiled from two Atlanta properties in the area after failing to pay over $30,000.00 in unpaid rent and charges. In recent years, he lived in a townhouse he rented in Chicago’s Trump Tower.
Financial and Legal Problems
In July of 2018, R. Kelly released the song for 19 minutes on Spotify, in which he addressed several of his accusations. In the song, Kelly claimed to be in debt and had to go on tour “just to pay rent”. He also admitted that he owes his IRS the sum of $20 million at one time and has to take out several millions of dollars through his record label to pay his bills.
The financial strains he faces are exacerbated because he cannot tour worldwide because of his controversial behaviour, and protests frequently stop his U.S. tours. Additionally, Spotify and other streaming services have stopped offering his songs on their public playlists. On Spotify, people can play his tracks on their accounts. However, his tracks will not be featured in public playlists such as Discover Weekly or in other streaming services that have Spotify-curated playlists or radio channels.
In January of 2019, Chicago building inspectors were granted the right to inspect R. Kelly’s studio for recording after being informed that the building was undergoing multiple renovations with no permission. R. Kelly does not control the studio but has been renting it since 2017.
The 8000-square-foot studio was listed for sale when the building was inspected for sale at $4 million. The building was also listed for sale at the time of inspection. The property owner had brought a lawsuit against R. Kelly seeking unpaid rent. According to the suit, R. Kelly’s rental was set at $23,000 per month and was unpaid for seven months. The landlord owed him 16,000 at the time of filing.
The 14th of January. Kelly’s label RCA/Sony, disclosed that they had put all his future music albums in limbo, effectively preventing Kelly from earning any more cash. He has to pay RCA/Sony two more albums under the most recent record contract. RCA/Sony has refused to pay to make new music videos. The company is in a precarious position since, at the time of time, Kelly has not been accused of any offence. It’s difficult to fire him and then hold the money in case of allegations. If his contract has the “morals clause”, there’s the possibility that RCA/Sony could use it to get out of the agreement.
In the latter part of February, R. Kelly was detained on many fresh charges. The bail amount was set to $1,000,000, which a cash payment of $100,000 could have met. But Kelly was so cash-poor that raising the cash took a few days. In reality, the report stated that the $100,000 was a gift from an individual known as Valencia Love, whose precise relationship to R. Kelly is unclear. When Kelly was in jail, his ex-wife Andrea brought a lawsuit seeking $160,000 of non-paid child maintenance.