Kelly’s name was once synonymous with smooth R&B melodies and commercial success. The singer and music producer was once nicknamed “The King of R&B” thanks to his chart-topping hits, including songs he wrote for other artists.
Yet, for many years, the darker side of his personal life massively overshadowed his immense success, including federal charges of sexual misconduct, sex trafficking, and racketeering.
The harrowing testimonies of his victims ignited a firestorm, which ultimately led to his downfall and conviction in 2022.
Amidst all the chaos, many people wonder about his current net worth and whether his criminal charges impacted it, and that’s where this article comes in.
In today’s guide, I’ll walk you through a breakdown of the fall of R. Kelly, including the early warnings of 2002, the legal battle, the conviction, and the lasting impact they had on his net worth.
How Much Is R. Kelly’s Net Worth Right Now?
Before diving into the juicy details of how R. Kelly’s net worth changed over the years, let’s start by discussing his current net worth when writing this article.
In 2024, R. Kelly’s net worth is estimated to be at least damaging $2,000,000—the reason why R. Kelly’s worth is harmful, not just $0, because he owes a lot of money to various entities, especially the Internal Revenue Service (IRS).
R. Kelly confirmed this during one of his trials, as he mentioned his financial burdens while trying to convince the judge he wasn’t a flight risk in April 2020.
As you can see, R. Kelly is currently beyond broke, and since he can’t make enough money to repay what he owes in time, additional fines will likely pile up on him.
In other words, his net worth is expected to go down even further, especially if new victims appear and seek compensation for damages.
According to ABC News, it’s also worth noting that this isn’t R. Kelly’s first instance of owing the IRS a lot of money, as he reportedly piled up over $4.8 million in tax settlements between 2005 and 2010.
What About the Music Royalties?
As you might know, most musicians and singers make much money in royalties, which they earn when their properties and assets are used. For example, a radio station needs to pay a musician to play their music.
You might think that no matter how big of a debt R. Kelly currently owes, the royalties from his extensive music career could cover it.
However, besides the tax money he owes to the IRS, R. Kelly also needs to pay his victims compensations for damages, which is so much money his entire net worth couldn’t cover.
In late 2023, the judge ordered R. Kelly to pay over $500,000 in music royalties to repay his victims a restitution debt of around $507,234.
For that reason, even with the massive music royalties R. Kelly makes, it’s doubtful he’ll bounce back from massive debts, especially since many radio stations and avenues try to distance themselves from his music.
How Much Was R. Kelly Worth At the Height of His Career?
R. Kelly’s wealth was estimated to be a staggering $100 million at the height of his career. This impressive sum reflects his immense success in the music industry, with hit songs topping the charts and generating significant revenue and royalties even today.
The most iconic hit of the singer is “I Believe I Can Fly,” which maintains its position as number one on the billboard for over six non-consecutive weeks.
Other successful songs by R. Kelly include “Ignition,” “Bump n’ Grind,” “You Remind Me of Something,” “12 Play”, “Step in the Name of Love,” and plenty others.
In addition to being a massively successful singer, R. Kelly was a songwriter and producer who worked with various superstars throughout his career. This includes award-winning singers like Michael Jackson, Britney Spears, Nick Cannon, and Maxwell.
Kelly’s career spans over 30 years, extending from 1989 to 2019. Throughout these years, he made incredible money through music sales, tours, and production.
Additionally, he holds the rights to some of his songs and earns royalties for his music. However, this financial success story sharply turned downward as R. Kelly became embroiled in several legal battles.
Sexual assault charges and other legal issues not only tarnished his reputation but also resulted in settlements, hefty legal fees, and a decline in music sales, but more about that in the following section.
How Legal Troubles Eroded R. Kelly’s Net Worth？
Now that you know about R. Kelly’s potential, had he avoided legal troubles, here’s a brief overview of legal issues that caused his massive net worth to deteriorate.
Legal Fees
Legal battles are notoriously expensive, with attorney fees, court fees, and investigator costs quickly racking up astronomical sums.
Since R. Kelly was defending himself against a barrage of sexual assault charges, child pornography accusations, and obstruction of justice allegations, these fees could quickly eat up a significant portion of his wealth, especially as the battles dragged on.
Heavy Taxes
Another primary source of financial drain was that R. Kelly continuously had trouble paying his taxes.
Despite his massive wealth, the R&B singer had multiple fallouts with the IRS, including publicly disclosed claims in 2012 and 2020.
In 2018, R. Kelly released a 19-minute song, “I Admit,” addressing many allegations against him.
Later in the song, Kelly mentions that he owed the IRS $20 million and had to sell some of his music rights to pay his debts.
He also claimed to have borrowed money from his label to cover his basic expenses, which shows the massive toll this claim had on his overall wealth.
Real Estate Losses
While many celebrities consolidate their net worth by investing in real estate, it was revealed that all of R. Kelly’s condos, apartments, and mansions were rented. The only property he owned was “The Isley Estate”, which he used to call “The Chocolate Factory”.
However, he failed to pay his mortgage for over a year, so the property was offloaded for $587,500 despite costing him over $3 million.
Eventually, R. Kelly was evicted from his properties one by one, and since he didn’t own any of them, they were only recurring expenses that he couldn’t use to pay any of his piling debts.
Declining Music Sales
The public outcry following the allegations resulted in a significant decline in R. Kelly’s music sales and streaming income.
Radio stations stopped playing his music, fans boycotted his concerts and tours, labels avoided him, and music streaming services saw a significant drop in listeners, especially after removing him from featured playlists.
Some of R. Kelly’s hit songs indeed returned to the charts after the “Surviving Kelly” docuseries was out, but that temporary rise wasn’t enough to save his crashing career.
Since music sales were his most reliable source of income, his net worth quickly dwindled as his music revenue plummeted.
Fines, Compensations, and Settlements
While the exact details of settlements with some accusers and some fines remain undisclosed, they likely took a significant chunk of his net worth.
These settlements were a financial concession to avoid further legal complications, but they came at a steep price.
By doing the math, it’s easy to see that the settlements were enough to erode what’s left of his wealth entirely, as court rulings for later victims ordered R. Kelly to pay them compensations out of his music royalties, which means that he has no assets on him that could be liquidated to pay the victims.
Does R. Kelly Have an Unclaimed Secret Stash Money?
There have been a few reports that R. Kelly’s claims to be broke are false, as he tried to funnel money through various methods. Here’s a brief overview of some of those allegations and what the court discovered about them.
In 2019, a report by The Blast showed that the R&B singer was hiding hundreds of thousands in cash in a private bank account listed under his childhood friend’s account and was incorporated into a business called “SomeBrotherLuv LLC.”
Federal authorities believe that Kelly could control this account despite being incarcerated through phone call instructions.
The account reportedly received royalties, raising concerns the account might be used to avoid court-imposed financial penalties or use the funds to bribe accusers.
Richard Arline Jr., a longtime friend of Kelly, is accused of offering a $500,000 bribe through this account to silence an alleged victim.
The amount of money kept in these accounts is a matter of debate, as the numbers vary considerably and weren’t publicly announced. For instance, the previously mentioned report shows that the bank account holds hundreds of thousands in cash.
On the other hand, another report by Revolt claims that the money discovered is around $1.2 million.
Additionally, Business Insider’s report believes that the figure in the bank account was much more prominent.
According to a 2022 report, the singer sold around $5 million worth of his music rights and funneled them through his friend’s bank account just before the conviction to avoid paying fines after court proceedings ended.
FAQs
How old is R. Kelly?
- Kelly was born on the 8th of January, 1967. As of 2024, the former R&B singer is over 57 years old.
Are there any ongoing legal issues related to R. Kelly?
As of April 2024, there is no public information about any new or ongoing legal troubles or allegations against R. Kelly.
That being said, it’s not impossible that new evidence could emerge that leads to additional criminal charges or acquittal, though the latter is quite unlikely given the circumstances.
New victims may also file additional charges against R. Kelly or seek financial compensation for damages, which could add extra years to his current sentence.
Where is R. Kelly currently held up?
Kelly is serving his sentence at the Federal Correctional Institution Butner Medium I, a medium-security prison in Butner, North Carolina.
He was transferred to this facility in February 2022 after spending some time at the Metropolitan Correctional Center in Chicago following his initial arrest. This was after U.S. District Judge Harry Leinenweber handed him a 20-year sentence.
When will R. Kelly get out of jail?
The combined sentence structure is a bit complex, but based on his current convictions of 31 years, he won’t be released until 2045.
The sentence structure means he likely won’t be eligible for release until he’s around 78 years old. Given his current age and the possibility of adding more years with new convictions, this suggests he may remain in prison for the rest of his life.
What happened to all of R. Kelly’s children?
Kelly has three children from his second marriage to Andrea Lee: JoAnn, Jaah (born Jaya), and Robert Jr. As of 2024, they’re aged 26, 24, and 22, respectively.
While it’s natural for the ongoing legal troubles to affect their relationship with their father, they already had a strained relationship long before the allegations and convictions. All three children have publicly distanced themselves from R. Kelly at some point.
His eldest daughter, JoAnn, stated they haven’t spoken to him in years and don’t condone his actions. His middle child, Jaah, who recently identified as a transgender male, also has been frequently critical of R. Kelly.
