R. Kelly’s Networth: Reasons behind the fall
In 2013, R Kelly’s net worth was around $2 million. His peak net worth may have been as high as $100 million. In April 2020, R Kelly admitted to the judge that he owed over $1.9 million in taxes for freedom from jail.
His only true source of income was as a subway musician during his early days. So when he won $100,000 on the TV talent show Big Break, that was his big break. By 1993, Kelly had signed with Jive Records.
R. Kelly is one of the most successful R&B and Hip-Hop performers in history, but has now lost all of his fortunes after he was accused of sexual abuse.
Because of his sex offenses, Kelly has now lost all his money and has had to pay millions of dollars in legal fees, court costs and settlements. He recently paid $1 million to get released on bond.
In November 1993, R. Kelly’s solo album “12 Play” was released. When it came time for the album to assess its commercial success, in September 1994 it was certified six times platinum. The album’s single “Bump n’ Grind” turned out to be a major hit as well.
Kelly produced and wrote Aaliyah’s debut album while at the same time working as a record producer.
“R. Kelly” sold over 4 million copies in 1995 and quickly reached the top of the charts with “I Believe I Can Fly”. It won three Grammy’s that year. In 2007, the fourth section of Trapped in the Closet: A Hip Hop Opera for Radio Stations was made available to the general public.
R Kelly has fourteen studio albums to his credit, in addition to five compilations and three joint ventures. He is the recipient of a slew of other honors, including numerous AMA’s, several BET Awards, and twelve Billboard Awards. In addition, from 1994 to 2013, he was on 12 official world tours.
Regardless of the annulment, in 1994 Kelly married Aaliyah. After divorcing in 2009 he remarried Andrea Lee, a professional dancer, and they had three children together.
R. Kelly’s Networth
R. Kelly’s fortune could have been far higher, if not for his legal issues; resulting in a $50-$100 million loss for Kelly. After divorcing Andrea Lee during the most prosperous years of his career, Kelly reportedly lost an estimated $100 million worth.
Kelly owed taxes stretching back 7 years, and he pulled $5 million worth of mortgage after failing to pay his Chicago house mortgage since 2010. He was evicted from two Atlanta-area properties in 2018 after failing to pay more than $30,000 in unpaid rental costs and fees. As recently as a few years ago, Kelly was renting out a townhouse condo at Trump Tower in Chicago.
The 19 minute song by R. Kelly released in July, 2018, addressed several of the claims against him. Kelly sings in this song about being broke and having to go on tour “just to pay the rent”. His label also admits to lending him several million dollars to pay expenses after he owes the IRS $20 million.
At the time, the estate was selling for $4 million. Additionally, R. Kelly owed $23,000 in back rent and still owed the building’s owner $167,000 in back rent at the time he filed for bankruptcy.
A woman named Valencia Love reportedly donated $100,000 to support abuse victims of R. Kelly, who is now paying back Andrea Kelly that money which she had won in a lawsuit.