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R Kelly’s net worth is said to have plunged to “negative $2 million”.
Celebrity Net Worth estimates the convicted sex abuser is far beyond broke, with a balance the equivalent of –£1.65 million.
The site says: “In April 2020, Kelly revealed to a judge – in making a case for being released from prison – that he owes nearly $1.9 million (£1.6 million) to the IRS alone.”
According to TMZ, as part of an attempt to show Kelly was not a flight risk during his trial, his lawyers filed legal documents showing the fallen 1990s R and B superstar owed $1.8 million (£1.4 million) to the IRS.
In 2019, Kelly’s attorney Steve Greenberg argued for the singer’s $1 million (£826,000) bond to be reduced, telling a judge his client’s finances were “a mess”.
After the bond hearing, Greenberg told reporters: “This is someone who should be wealthy at this stage of his career… and through mismanagement, through hangers-on, and bad contracts, and bad deals, and bad leases like he had in his studio. He really doesn't have any money at this point.”
It’s been estimated at the height of Kelly’s career he had a net fortune of around $100 million (£82.5 million.)
His 1995 ‘R.Kelly’ album sold four million copies and he went on to release a string of multi-platinum records.
Kelly will face a second trial in August on charges he possessed child sexual abuse images.
His scheduled hearing will be the second time he faces allegations linked to such images after he was previously acquitted in 2008 on similar charges.
Kelly – real name Robert Sylvester Kelly – has pleaded not guilty.
The singer was sentenced on Wednesday (29.06.22) to 30 years in prison at the US District Court in New York for masterminding a scheme to entice and sexually exploit young aspiring singers and underage children.
It followed his conviction last year by a jury on multiple counts of racketeering, relating to bribery and forced labour.
The musician was also found to have violated anti-sex trafficking law, the Mann Act.
Sentencing, Judge Ann Donnelly said Kelly had used his “minions” to “lure young fans into your orbit”.
The singer, who denied all charges and plans to appeal his 30-year sentence, was found guilty on all nine counts against him after a six-week trial in Brooklyn and did not appear to react as his sentence was passed.