Bow Wow Spent Over 25% of His Income on a To-Be-Repossessed Lamborghini
This is especially true for musicians who were famous when they were children, as some musicians simply don’t grow beyond their younger selves. While most child musicians are in genres like pop or rock, Bow Wow was one of the first child rappers, and he released his debut album, Beware of Dog, when he was just 13 years old.
Unfortunately for him though, he was also one of the child musicians who didn’t find too much success later in life. Here’s a look at how Bow Wow ended up getting his Lamborghini towed away.
A recap of Bow Wow’s career
While his debut album was released when he was 13, he actually started rapping much younger than that. When he was 5 years old, Snoop Dogg took notice of him and not long after, he even brought him on stage during a concert. Snoop Dogg gave him the stage name of Lil’ Bow Wow, and that was what he was known as when he was younger.
After the success of his debut album, he even started branching out into acting. He starred in the lead role of Like Mike, and he also had a big role in The Fast and the Furious: Tokyo Drift. Along the way, he also kept releasing albums, but, as he grew up, his popularity waned. That said, since he was rich and famous at the time, he also ended up spending quite a bit of money on cars and other toys.
Bow Wow buys a Lamborghini
According to Hot Cars, Bow Wow bought himself a Lamborghini Murcielago. It’s not clear which model year that Bow Wow bought, but, since Lamborghini stopped building the Murcielago in 2010, it was more than likely one of the later model years.
The Murcielago was a powerful beast, as it had a 6.5-liter V12 engine that generated over 630-hp, and even more horses in the later model years. This allowed it to go from 0 to 60 MPH in around 3 seconds, and it could also hit a top speed that was a tad over 210 MPH.
And of course, since it was a Lamborghini, it also had a very luxurious interior. These features and specs were well worth its price tag, which was about $350,000 at the time. That said, this was probably a poor financial decision at the time, since Hot Cars said that he effectively committed 25% of his net worth to buy the Lamborghini.
Bow Wow’s Lamborghini gets repoed
In 2012, Urban Islandz wrote that Bow Wow gave some conflicting messages regarding his finances. On one hand, he claimed that he wasn’t broke, but on the other, sources told Urban Islandz that he only had $1,500 in his bank account and that he owed twice that amount per month in child support alone.
On top of that, Bow Wow also got sued by the bank that he took his car loan out on. Urban Islandz said that he took a $300,000 loan to buy his Murcielago, and that, when he fell behind on his payments in 2011, the bank repoed his Lamborghini. Bow Wow apparently already paid about half of his car off, but, to add insult to injury, the bank also added on a $25,000 fee for the repo.
This wasn’t even the first time that Bow Wow got into some financial trouble with his cars. Hot Cars also wrote that he owed almost $280,000 to Ferrari. Unsurprisingly, Hot Cars said that, due to these money issues, Bow Wow’s net worth is currently $1.5 million.