How Much is Suge Knight’s Net Worth?Know about his Career and Awards in Details
Suge Knight is the co-founder and former CEO of Death Row Records founded in 1991. Anyone who is a big hip-hop fan knows who Suge Knight is. Most of us also know that he is in jail for murder and attempted murder since 2015.
Death Row Records has worked with artists like Dr. Dre, Tupac Shakur, Snoop Dogg, Sam Sneed, Young Soldierz, Jewell, RBX, Danny Boy and The Lady Of Rage DJ Quik among many others. Given that he was involved with a successful record label, you'd think Suge Knight has a huge net worth, that he is rich. However, that is not the case. He is actually going through quite a financial crisis.
How Much Is Suge Knight’s Net Worth?
Suge Knight's net worth is $200 thousand at present. Even though Suge is facing financial problems since June of 2007, he has earned some money by selling his assets, like his $4,560,000 Malibu home with seven-bedroom, 9½-bath.
In January 2009, Suge earned $5, 000 from the sale of his jackets which was featured in an episode of Storage Wars. Knight also had to sell Death Row Records electric chair and other amenities for $2,500 in the same year. Similarly, Death Row Records' assets were sold at an auction for $18 million.
Suge is most for being the former CEO of Death Row Records, a company that was instrumental in bringing gangster rap to the mainstream in the 1990s.
Suge and Death Row were early to sign artists such as Dr. Dre, Tupac Shakur, and Snoop Dogg. During its heyday, Death Row sold over 150 million albums around the world and generated an estimated $750 million in net revenues.
Suge Knight’s Getting Poorer by Each Day
Let me explain what really happened with Suge Knights. Over the last two decades, Suge has had several run-ins with the law. Suge Knight, a record producer, was allegedly been part of a fatal hit and run in Compton in 2015. According to a source, Knight was the driver of a truck that ran over a victim before driving off. Knight is said to have left the scene and deserted his car in a parking lot.
WITH MY LIL BROTHER http://t.co/xHyg3DlT
— Suge Knight (@sugeknight) October 28, 2011
Besides legal problems, Suge also faced plenty of financial issues. So, it's not a surprise why Suge Knight’s net worth reduced to a $200,000. In 2002, the IRS publicly announced, Knight owed somewhere around $6.5 million in back taxes so he filed for bankruptcy in 2006. Suge claimed that his properties were worth in between zero dollars and $50,000.
Knight claimed that he had debts that comprised more than $100 million, although much of that was the result of a single $107 million judgment that was awarded to the former wife of his business partner. So, Suge Knight forced Death Row Records to file for bankruptcy later that year due to financial troubles. The IRS had announced that Suge owed $6.5 million in back taxes.
In 2009, the assets of Death Row were sold at auction for $18 million. The winning bidder was a company called WIDEawake Entertainment Group. WIDEawake eventually was sold to a Canadian company called New Solutions Financial Corp.
Currently, behind bars, Suge Knight recently requested for his trial to be postponed until summer time. His 21-year-old son has been posting his frustration with the American legal system saying his father is being mistreated behind bars.
Im grateful to see my dad this morning, but it hurt me to see him get neglected right infront of my face. They even had the officer block my dads view to see me! I really need those that acutally support and who has a heart to reach out. I have great news but i need justice to be served. #FREESUGE #FREEMYDAD
Suge 21-year-old also accused the prosecution or rushing the case. Penning down his frustration on an Instagram post, he wrote:
My father was the Big protective brother of Pac. If he knew anybody was after him he wouldnt have pac with him in the first place. These rumors are selfish and its unecessary. When you look who is trying to profit off of causing chaos in my family its somebody who doesnt know nor care about my family. Fake news will never get attention but people will stop trying to make a quick dollar off my family, especially off lies. Only negative black stories get broadcasted I see, smh. MY FATHER NEEDS HIS FAMILY AND HIS CIVIL RIGHTS BACK BEFORE WE TALK ABOUT A DOCUMENTARY. #FreeSuge
Suge was involved in a fatal hit and run accident on 29th January 2015 in Compton. The incident might have been related to a fight occurred on a movie set. Witnesses supposedly saw him behind a truck over the victim and then drive off. Knight then reportedly ran from the scene and deserted his car in a parking lot.
Quick facts about Suge Knight
- Suge Knight is a record producer, and music executive born and raised in Compton, California, U.S.
- Prior to fame, he worked as an American football defensive end for the Los AngelesRams of NFL.
- Suge Knight played football for El Camino College for two years during his high school.
- Suge Knight graduated from the University of Nevada, Las Vegas in 1985.
- Suge Knight is now serving time in prison on charges of murder.