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13 Lessons From Entertainers And Moguls Who Went From Millions To Broke

13 Lessons From Entertainers And Moguls Who Went From Millions To Broke

T-Pain: Keep spending under control

When hip-hop artist and producer T-Pain came on the scene, he made auto tune trendy. Born Faheem Rasheed Najm, the Grammy-winning artist was earning $millions in the early 2000s. He went on to found the record label imprint Nappy Boy Entertainment in 2005. From 2006 to 2010, T-Pain was said to be worth $40 million. Then he lost it all. He was so broke that at one point he said he had to ask for money to buy his children a burger.

“I’ve been mega-rich, you know, I’ve been super broke right in the middle of thinking I was mega-rich, and then got rich again. And you know I learned how to really give a s— about money,” the artist said in a 2019 interview with The Breakfast Club.

“So now I know what the high end is and what the low end is,” T-Pain, 34, said. 

Bad deals, lawsuits, and bad financial management brought down his wealth. According to T-Pain, he “almost” lost his $6-million house in Atlanta, and his spending habits had his accountant “panicking.”

“Once you give a s— about the money you’re making, then, you know what I’m saying, you feel much better about your accomplishments. You feel much better about what you’re doing. You start paying attention to your work that makes you money,” he said. “You get back up and you learn, man.”

T-Pain and his wife, Amber Najm, have three children — Lyriq, 15, Muziq, 12, and Kaydnz, 9.

Now, T-Pain is back on track. “Being able to afford diapers and food — that was a great moment,” he told People.

“I think that’s always going to be my proudest moment — figuring out how to provide for my family,” he added. “Awards are always great, but in the long run, it doesn’t really say who you are. I’m more concerned about my family, my kids, and my wife and making sure I can provide.”