Fat Joe's financial struggles explored as rapper admits living check to check

Hip hop legend Fat Joe recently opened up about his financial status in a new candid chat on the Joe and Jada podcast.

With an estimated net worth of $4 million and a portfolio of successful business endeavors, the rapper admitted on the podcast that he still lives “check to check,” highlighting the complicated truth behind celebrity income and spending.

"We check to check. If we buying $300,000 watches, house, homes, and everywhere, we check to check. That's why you got to keep working," he said on the podcast.

His remarks on the podcast provided a rare insight into the strains of a high-profile lifestyle. Considering his expenses, the 53-year-old artist stressed that losing even a little income can take a huge toll on him.

"You got to f**king work, you got kids in college, you got all type of f**king mortgages, you got car notes... And so what happens is I don't care how much money we make. It's almost like shampoo. The sh*t just slip through your fingers," the rapper added.

It’s not the first time Fat Joe has spoken out about the financial struggle as well. He had supposedly lost $2 million earlier in his career. He told Forbes that he was surrounded by over 30 people, including many who depended on him for financial support. But that generosity also made him lose many big business opportunities.

More about Fat Joe's financial struggles and growth

According to HipHopDx, in 2024, Fat Joe admitted that he still owed money to Atlantic Records and Warner Music Group for albums he put out more than two decades ago, calling the entire major label system a “Ponzi scheme.”

Even after selling two million copies of his 2001 J.O.S.E., Joe says he never earned back his record advance because of some accounting tricks, such as cost of music video production being logged against income with no profit share (Digital Music News).

Fat Joe has spent most of his recent years trying to get back in control of his finances. He has turned his attention to entrepreneurship, becoming co-owner of a Hispanic hair care brand called Rewind It 10 and opening a chain of sneaker and clothing stores, UP NYC.

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But the rapper’s financial trajectory was not without its personal struggles. In a 2024 interview with Jay Shetty on one of the On Purpose episodes, Joe discussed how betrayal from close friends, including the theft of money by a family member, affected his mental and financial well-being. Fat Joe told Shetty that after his sister and his longtime editor Raul Rekow passed away, he fell into depression.

Therefore, in his recent appearance on the Joe and Jada podcast, Joe addressed his financial problems to educate the up-and-coming artists about the financial strains they may face in the future.

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