Soulja Boy admits that he cannot pay his ex-girlfriend the $236,000 he owes her due to his high living expenses and his million-dollar debt in taxes.
He has asked a judge to reconsider the decision reached in a prior lawsuit where Kayla Myers was awarded over $230,000 in damages because he cannot afford to pay.
He claims that his current income does not cover his cost of living and that during the lawsuit his financial situation was inaccurately portrayed. In addition to this, he owes the IRS $1 million in back taxes and is requesting the judge overturn the decision.
A financial statement submitted by Soulja Boy shows the problem he is facing – his lavish lifestyle is not covered by his income. Back in 2007, he asserted that he was earning “millions” at the beginning of his career, but his current income is made through marketing, appearances and concerts.
Soulja Boy claims he makes $10,000 to $100,000 for each concert he performs in, but this is not the total amount he gets to keep, as he has to pay for transportation, his team and security. In recent years, many of his concerts have been canceled due to COVID, so his income has significantly decreased.
Typically one would liquidate their assets in order to pay their debts, but Soulja Boy does not have this option. He does not own any properties and is currently renting a home for $25,000 per month. The only assets he owns are his three cars, valued at $350,000 when he purchased them, $50,000 in stocks and $18,000 in jewelry.
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Soulja Boy was sued by Myers in 2019 for pistol-whipping and kidnapping her. He allegedly held Myers against her will while physically harming her for hours. The judge found him liable for assault and instructed the singer to pay Myers $236,000 and an additional $236,000 for punitive damages, which is what he is requesting to be overturned.
