Tue 2 Oct 2012
Do You Have More Money In The Bank Right Now Than Bow Wow Does?
Posted by Miss Info under about miss info , crime , hmmm....? , laugh at , life beyond rap , quotes , relationships and family , ugh[38] Comments
(Don’t eat that! It’s all you have left!)
Courtroom transcripts are fascinating documents, man. Sometimes they read like Greek tragedies (see the Usher vs. Tameka wars). And sometimes they read like slapstick Dumb and Dumber comedies. Like everything Bow Wow and his lawyers told a judge during his child support hearing.
Bow Wow was in court on Monday, pleading poverty to reduce the amount of money he has to give his baby moms Joie Chavis for their 1-year-old daughter Shai (the daughter he was most ebullient about in this letter). Child support is always a delicate matter, so there’s no fault in trying to get a fair and affordable deal there…but what’s interesting is the insight into Bow wow’s financial affairs. And the way he omitted a key fact…to get over on the judge, his baby mother, and ultimately, his child.
According to TMZ, Bow Wow claimed:
…he makes $4,000 a month working as an employee at Cash Money Records, and that’s it. He testified he leases a Jeep and has a grand total of $1,500 in his checking account.
$4,000 a month. $48k a year….and only has $1,500 liquid in the bank. $1,500? Is that possible? Wait…don’t answer that : /
So, how much child support was Bow Wow ordered to pay?
After the jump…
(Bow Wow and his baby moms Joie Chavis in happier times)
The judge ultimately decided that Bow Wow needs to pony up $3000 a month for his daughter’s care. Twice as much as he has in the bank. Because….Bow Wow left out a key fact. He didn’t tell the judge that he just got a gig as one of four hosts on BET’s 106 and Park….which, ostensibly will pay him. At least as much as his gig as a Cash Money employee does.
Next time, try delaying that new gig announcement so it doesn’t happen on the same damn day as your child support hearing.
Related:
Bow Wow Reveals He’s A Father & Previews New Documentary ‘Who Is Shad Moss’
Celebrity Overshare: Teyana, LiLo, Bow Wow, also Stephon Marbury cries on webcam to pay the bills?
Low Point 09: Bow Wow’s amazing hand gestures
Aw You So Tough: Bow Wow kittyboxing with 2 video girls
Exclusive: The Truth Behind Bow Wow’s BET Brouhaha
HA: BowWow bites back….when interviews go wrong
October 2nd, 2012 at 3:55 pm
……so many question come to mind with this but I’ll leave it alone.
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October 2nd, 2012 at 4:09 pm
$1,500 is the amount you have to keep in your checking account at chase but he never said how much was stashed in the savings lol
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Miss Info Reply:
October 2nd, 2012 at 4:14 pm
don’t you think that you would have to tell a judge all of the assets in your bank accounts?
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brooklyn Reply:
October 2nd, 2012 at 4:22 pm
You would think so but I know two dumb ny judges that didn’t….though the ppl weren’t bow wow famous
But the initial comment was a joke
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October 2nd, 2012 at 4:09 pm
that Gif is hillllllarious!
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October 2nd, 2012 at 4:26 pm
this is why he hires accountants and lawyers, to hide his assets. he just did a tour in europe and u expect me to believe he got paid nothing, and that he gets no royalties from movies or music …. smh. rick ross did same thing 18 mounths ago, u all really think he broke too ?
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October 2nd, 2012 at 4:30 pm
this is sad. i don’t care about his finances. i only care about that child. if he is lying to take food out of his childs mouth he is a sad individual. further more cash money better show proof that they paid him what he claims come tax time.
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lost boy Reply:
October 2nd, 2012 at 5:39 pm
I am sure bow wow cares about his child too..but historical it has shown that courts over compensate and care for the children/babymother more than any of us can imagine. After seeing Nas go through his debacle with the Kelis divorce.. I glad to see an entertainer get away with paying an excessive amount and unreasonable amount of child support.
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October 2nd, 2012 at 4:35 pm
Billionaire Boys Club?..hardly..
Hundrednaire Boys Club sounds good.
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lost boy Reply:
October 2nd, 2012 at 5:41 pm
Lets keep it real…Bow wow is stupid paid! He’s been getting its since he was 11. Platnium/ Gold Plaques and multiple movies… he’s dumb rich.. Probably got a swiss account overseas for all that cash. Wasnt he just arguing with Souja Boy over whos Lambo was the quickest just a year ago..lol
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poppa pistol Reply:
October 2nd, 2012 at 11:08 pm
when you look in the face of a child that looks like you money should not be an issue for the child. i fully understand not wanting the childs mother to floss with the money, but if you think about it… if the childs mother is living rough how do you think the child will live?
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jwilliams Reply:
October 2nd, 2012 at 11:21 pm
You can’t hide money in Swiss bank accounts anymore. They changed the laws. Mitt Romney has to disclose what he has in Anne Romney’s Swiss bank account to the I.R.S. He has to disclose his Cayman Island accounts too. The only way I could see Bow Wow hording cash is if he has it stashed away in a safe somewhere, or he could have properties in other people’s names, or bank accounts in family member’s names.
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October 2nd, 2012 at 5:03 pm
Everybody who gets hit with the child support situation always tries to downplay their financial situation.
There is absolutely NO way Bow Wow could only have $1500 in his checking account, that’s ridiculous.
3k in child support… I know ppl like to look on from the outside and have some shit to say but if we gonna talk, let’s be real. That child should be good with 3k… Hella good.
The reason rappers/celebrities or anyone with sense tries to skimp on child support payments is because they know all the money never goes to the child, the mother always wants to act like its a pay check for her. So now until that child is 18 Bow Wow gotta shell 3k every month. 36k a year…. I know it should be for his daughter but that’s never how it works. She just got a salary the equivalent of somebody with a bachelor’s degree gets in this economy.
I guess they wouldn’t have been in court if he was paying the damn child support in the 1st place.
“Byrrrrrrrrrriiinnnnn” lol kinda funny when your life plays out like a role u played in a movie….
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October 2nd, 2012 at 5:20 pm
I don’t believe Bow. Only $1,500 in his account? With all the movies and touring he has done recently, he definitely has more than $1,500… his net worth was worth $42 Million dating back to 2011 but isn’t net worth a different story? No way he is that broke.
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October 2nd, 2012 at 5:45 pm
That’s more money than I have in my checking.
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October 2nd, 2012 at 6:14 pm
I make more than bow wow a year…Ballin out of control on 60k a year!!! yeahhhhh buddy!!!
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October 2nd, 2012 at 6:24 pm
This nigga owns a mcdonalds and a sneaker store called Prestigious plus a small investment in the Atlanta Hawks he caked up.
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30 Day Internet Marketing Challenge Reply:
October 2nd, 2012 at 8:57 pm
Where did u get this information from?
Small investment in the Atlanta Hawks? Wtf?
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October 2nd, 2012 at 7:20 pm
Y’all are dumb if you think this dude is broke. He does shows, tours, has royalties from movies etc. He’s only hiding his assets because the judge is going to grant his child’s mother a huge amount of money and only about 10% will be used on the child while she goes shopping with the rest.
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October 2nd, 2012 at 7:22 pm
You know what all this means right … ?
Tax evasion or money laundering.
I hope this doesn’t happen ?
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October 2nd, 2012 at 7:23 pm
I agree with @30 Day Internet…things were all good just a week ago when the little girl was born. But now,he’s seeing that maybe he was a come-up all along. That’s a mighty bitter pill to swallow. (pause). I know this will go unheeded by the majority,but…know who you’re getting involved with BEFORE you have kids with them. Men AND women alike. Unless you marry her and control the finances to a degree, you all ALWAYS at a disadvantage in court. This comes with a given stipulation…no more groupie love for you. You’re to have ONE sex partner, and that’s the woman you marry. Renege on this,and you DOUBLE your headaches…’cause now when she divorces you for infidelity, she get’s child support AND alimony. Guys…Stay Strapped At All Times!!! For everyone’s sake.
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October 2nd, 2012 at 7:40 pm
missinfo.tv is dumb for postin this, if ya really think bow wow make 48,000 a year i say bush didnt fuck us..
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Miss Info Reply:
October 2nd, 2012 at 8:55 pm
um…If you read this…you see that I am citing what Bow Wow himself claimed in court. That doesn’t mean that I believe him. That also don’t mean that I put it past him to be near bankrupt. If you have trouble comprehending the post, here’s a shortcut. I think he lied in court, to get out of paying child support….and then got busted. So, there’s the “dumb” for you.
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Jason Reply:
October 2nd, 2012 at 9:31 pm
the guys name is money mike, do you really need to explain yourself?
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lost boy Reply:
October 2nd, 2012 at 10:55 pm
Money Mike = Bodied. LOL
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Money mike Reply:
October 3rd, 2012 at 12:39 pm
Money mike don’t get bodied by any 1. But missinfo is an exception
October 2nd, 2012 at 8:08 pm
LMAOOO… OK
Bow wow leases a Jeep? Bow Wow has a Camaro parked at Chris Brown’s house hiding in LA. A Mercedes S550, a Lambo, tons of other high valued shit, fully paid off real estate in Miami and ATL. He is NOT BROKE!!!
I just watched him spend 1500 on a dinner. But I feel him though, bitches be trying to live like Kelis out here.
-Concerned reader.
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October 2nd, 2012 at 8:09 pm
I think JD did it with his new baby mama and it might have worked. Most of their money are probably in oversea accounts. That way he can avoid paying taxes and child support. Nice try guys.
Bow Wow in the future. Say no to JD’s tax accounts and lawyers. You will just end up paying more money at the end of the day.
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October 2nd, 2012 at 8:16 pm
*Corrected version
I think JD try to do this with his new baby mama and it might have worked. Maybe JD and Bow Wow are hiding their cash in oversea accounts. That way they can avoid paying taxes and child support. Nice try guys.
Bow Wow in the future. Say no to JD’s tax accounts and lawyers. I understand you don’t want to support the Baby mama. She should just get a job like everyone else.
Having a baby with someone who is rich is not the lotto and it shouldn’t be treated like it is by the courts. But you should state that fact in court and try not to hide the money. Because you will just end up paying more money at the end of the day.
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October 2nd, 2012 at 8:57 pm
This is why I always say, I wouldn’t want to replace my life with any rapper aside from the top tier rappers. I just refuse to believe any of them have $. With that being said, I’m actually kinda surprised if Bow Wow doesn’t have a few dollars (maybe a few hundred thousand?) due to his marketability with the kids over the years.
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October 2nd, 2012 at 9:36 pm
I guarantee you if he only had $1500 in his accounts he would have already filed for bankruptcy because there is no way in hell someone who’s made as much as he has can only have $1500 in the bank & NOT have an absolute mountain of debt! Good money handlers helped him out a lot on this one to get his numbers switched enough to fool this judge & get rid of the money grubber, for now anyways! Come December when the next court hearing is, dude will be screwed!
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October 2nd, 2012 at 10:50 pm
lol didn’t he recently pay $90,000 after a judge issued an arrest warrant?
Wonder about his tax problems though >_>.
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October 2nd, 2012 at 10:58 pm
Info,
He did not lie. Bow likely has a Trust, trust cannot be broken and do not appear in the name of the trustee (bow) He does not need to list a trust he is a trustee of in court.
This is really just smart.
I believe he really has only so much money in his checking account. Most things a person of his income level should own should not be in his personal name. As you can see with his court documents they are not
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October 2nd, 2012 at 11:23 pm
Bow wow is lucky Joie didn’t have Gloria Allred at her corner?
bow wow is broke….btw
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October 3rd, 2012 at 2:23 am
Bow Wow tryna act like he’s Kevin Hart all of a sudden lmao
“The way that my bank account is set up…”
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October 3rd, 2012 at 2:39 pm
I’m not a lawyer, but I think child support is based on income only at the time of the hearing. If he had an excessive amount of money in the bank then the interest probably would count against him. It wasn’t a divorce, so I don’t think assets are in play. But again, I may be talking out of my neck here.
With that, people lie in family court all the time. As long as his BM can’t afford PIs, etc. (if he is hiding income) he’s probably good money.
The other thing is every time I hear a speech about someone not taking care of their kids and taking food out of… blah blah blah. All I can think is who hurt you? Dude, there are kids starving everyday, do you cape for them? But you will cape for a celebrity’s kid? I’m confused. Besides that, what is the mother’s responsibility? Should she work? Think it through.
I’m all for the health and well being of kids, all kids. There is no easy answer. It is suppose to be looked at on a case by case basis by the state w/the best interest of the child put first. How often do you think it goes down like that?
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October 3rd, 2012 at 2:56 pm
I personally believe that there should be a new child support system in place. Instead of just paying X amount of money there should be a list of essentials that should be taken care of (diapers, formula, clothing, medical, etc).
I believe it would eliminate a lot of the headaches and worries about what the other parent is doing with the money.
Just a though. * shrugs *
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ChicaGo-Getter Reply:
October 3rd, 2012 at 10:36 pm
In a nutshell.
But I have no sympathy for majority of these athletes and rapper who get caught slipping. Ultimately they’re all just using each other. If they spent more time building REAL relationships with REAL women who actually give a damn about them instead of sleeping around with a bunch of status chasing birds who are only looking for a come up or bragging rights, they wouldn’t have this problem.
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