Jermaine Dupri Net Worth
Jermaine Dupri net worth: Jermaine Dupri is an American songwriter, rapper, and record producer who has a net worth of $2 million. Jermaine Dupri was born on September 23rd, 1972 in Asheville North Coralina. His father was a Columbia record executive. Dupri used his father's connections to become a dancer for performers like Diana Ross. By the time he was fourteen he began producing for young artists around Atlanta. His first stab at producing came when he made a record for the female rap trio Silk Tymes Leather. The group was unable to produce a successful record but the venture helped Jermaine meet many important contacts. His big first success came after discovering two teenage rappers at mall. JD would eventually christen the duo "Kriss Kross" and produce their debut album "Tottally Krossed Out". The album eventually went multi-platinum thanks to the singles, "Jump" and "It's a Shame"..
With his new found success Dupri launched his very own record company, So So Def Recordings. He soon singed on the group Jagged Edge whose self titled debut album went platinum. Next he signed on a young female Chicago singer named Da Brat who would become the first female rapper to ever sell over 1,000,000 units. Around this time Dupri began to experience success beyond his wildest imagination. This success allowed him to collaborate with superstars like Boys to Men, Luther Vandross, Jay-Z, Lil Bow-wow, Baby Face and more. Bow-wow's first record alone went triple-platinum. So So Def Recordings eventually earned twenty gold and platinum records. In 1998 Dupri launched a music career of his own when he released "The Party Continues" and "Jermaine Dupri Presents Life in 1472: The original soundtrack".
Jermaine Dupri's Financial Problems:
Despite having earned $11 million in 2008 and having an net worth of $60 million in 2006, recently Jermaine Dupri has fallen on difficult financial times. In May 2011, Jermaine was on the verge of bankruptcy thanks largely to the debt his company So So Def had taken on over the years. Dupri barely avoided the foreclosure of his Atlanta home on two separate occasions. Dupri owed over $500,000 to the state of Georgia and $3 million to the IRS. He eventually paid back most of his tax debt, but in 2010 was forced to put his company up as collateral to secure a $4.8 million personal loan from SunTrust bank. As of May 2013 he has paid back roughly half of the loan but has not made a payment in many months. If he does not make a payment soon, the bank will take ownership of JD's entire catalogue of music, including the albums from Da Brat, Bow Wow, Kriss Kross and Xscape.