Home Music Business Chris Brown Likely To Go Bankrupt, Ex-Manager Says

Chris Brown Likely To Go Bankrupt, Ex-Manager Says

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Chris Brown is “on the brink of bankruptcy” if he keeps spending lavishly and losing income as fast as he is. This is according to a court testimony from former manager Michael Guirguis.

Guirguis, who goes by ‘Mike G,’ has witnessed Brown’s questionable spending habits firsthand and is now opening up about them. He says at the current pace, a bankruptcy is not only likely, it’s practically inevitable.

According to him, Breezy spends way too much from his own pocket on music video shoots that exceed the record label’s budget and he spends unreasonable amounts of money on non-stop private jet transportation.

Guirguis then goes on to say that the artist sabotages himself when it comes to easy revenue.

In terms of earnings, Chris Brown also lost a $3 million gig in Vegas, for violent and unprofessional behavior.  It was another example of self-sabotage and financial self-destruction.  “In July 2016, Brown was fired from his Las Vegas residency at Drai’s Nightclub.  Drai’s had paid Brown approximately $3 million a year.  Prior to terminating Brown, Drai’s Management Group, LLC had sent a letter warning Brown about his behavior.”

That gig was easy millions that simply went ‘poof’. Read more…

The testimony is going on because Guirguis and his management firm, NiteVision, are suing Chris Brown after a violent altercation.  That suit involves millions in damages.  Even with a victory, Guirguis is worried that Brown will be unable to pay.

This news follows a number of high-profile bankruptcies by R&B and rap stars. The list includes 50 Cent, Toni Braxton, Scott Storch, DMX, Lauryn Hill, and Rick Ross, among many others.

(Image Source: Eva Rinaldi Flickr)

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Omar Zulfi is a Hip-Hop artist, music producer and entrepreneur from Canada. He is the owner of Deviant Noise Inc. - a one-stop-resource for independent music artists, producers and songwriters - and an independent marketing consultant. He can be contacted at [email protected]

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