Suge Knight is a record producer, music executive, and former NFL player with $200,000 worth of assets. His wealth has not always been this low, read on to discover more about Knight’s life.
Knight is the former CEO of Death Row Records. This label played a pivotal role in the rise of gangsta rap in the 90s. It had signed some of the biggest names in Hip-Hop ranging from Tupac Shakur to Snoop Dogg and Dr Dre. Death Row sold more than 150 million albums globally. Its net annual revenue was $750 million. Suge’s problems with the law set the stage for the literal death of Death Row. Maybe the name was a herald of worse things to come.
Dr Dre co-founded Death Row. It was his album, “The Chronic” that set the stage for the rise of this label. The album became triple-platinum selling more than 3 million copies. Death Row made over $100 million in 1996 only. The label also released Snoop Dogg’s debut album “Doggystyle” which was certified platinum four times.
Death Row’s Woes
Knight was jailed for violation of parole heralding a row of problems for the label. Prominent artists left the label, including Dr Dre. Suge’s legal issues made Death Row to file for bankruptcy in 2006. The assets were auctioned for $18 million in 2008 where WIDEawake Entertainment won the bid. Eventually, it was sold to New Solutions Financial Corp, a Canadian Company, which filed for bankruptcy in 2012. Entertainment One now owns the assets.
Before co-founding Death Row, Suge played football in high school and later joined the NFL briefly. He was a replacement player for the Los Angeles Rams in 1987. He went to the University of Nevada on a football scholarship where he played college football and made just two appearances. In the entertainment industry, he began as a promoter and a bodyguard for Bobby Brown.
He then founded his publishing company in the late 80s. He had songs that were used by Vanilla Ice in his album, “To the Extreme” which became a hit. Suge allegedly made Ice to sign royalties to him.
Suge had tried to re-launch Death row under a moniker, Tha Row, but he, unfortunately, went back to jail. In a bid to bounce back after the death of Death Row, he founded Black Kapital Records.
In 1994, Suge opened an appointment-only nightclub in Las Vegas named Club 662. He was involved in a car hydraulics business
A documentary, “American Dream/American Knightmare” premiered on Showtime in September 2015. It is an uncensored look into the life of Suge Knight. It was directed by Antoine Fuqua.
Suge Knight Net Worth and Bankruptcy
As aforementioned, Suge who has an estimated cash flow of $200,000 had numerous problems with the law. He owed the IRS $6.5 million. He filed for personal bankruptcy in 2006. His assets were valued between $0 and $50,000 he claimed. He also argued that his debts totalled over $100 million.
Marion Hugh Knight Jr. had borrowed over $1 million from Michael Harris who was serving a 28-year prison sentence. Lydia Harris, Michael’s wife filed a lawsuit against Knight as her husband had not received his stake in the label. The suit worked in her favour, she was awarded $107 million while Death Row filed for bankruptcy.
Suge’s ultimate ruin resulted from a hit and run accident that killed Terry Carter and injured Cle ‘Bone’ Sloan in January 2015. He faced charges of murder and attempted murder. The accident followed an altercation in Compton. His bail was initially set at $2 million. However, this was revoked and increased to $25 million. His criminal past including extortion, assault, battery, and money laundering only worsened the situation. The accident actually occurred when he was out on bail after being arrested for robbery.
If he wants to be freed before trial, Suge only has 2 options. He could either pay the money himself or get a bond company to do it. If he chooses the latter, he will not only pay the company 8% of the bail but will need to show that all the money was legally obtained.
There are allegations that Knight was involved in the deaths of Tupac and Notorious B.I.G who both died in drive-by shootings. Knight was the driver during Tupac’s death. It was perceived that B.I.G.’s death was a revenge for Tupac’s death.
See Also: Ice Cube’s Bio
Knight’s mansion in Malibu was sold in bankruptcy court for $4.56 million. The man has lost much more than money. He has lost his reputation and the future looks quite bleak for him.
Suge Knight’s Wife and Son
Suge was once married to Sharitha Lee Golden. The two got married in November 1983 and their union saw the birth of his first child.
It also happened that while he was behind bars, Knight who had something to do with Michel’le Toussant, ex-wife of Dr Dre proposed to her while still legally married (though separated) to his first wife. Knight and Michel’le Toussaint got married in 1999.
It was indeed a weird kind of love triangle owing to the fact that Dr Dre and Miche’le whose union ended terribly, had a child together in 1991.
Is Suge Dead or Alive and What Was His Relationship with Tupac?
Suge Knight is currently in jail over a 2015 murder charge. This was after a video footage showed when he angrily ran over two people. The horrifying incident which claimed the life of Terry Carter happened in January 2015. The footage showed Knight leaving the scene of the attack. He later turned himself in.
Rap legend Tupac Shakur died in 1996 after a drive-by shooting claimed his life. Various theories and speculations including allegations that Suge Knight who was with him at the time, had a hand in his death had flooded the media. That may not come as a surprise under legal grounds as the closest to the victim is always a suspect.
However, Knight has asserted that his ex-wife Sharitha Golden had a hand in Tupac’s death. Knight said he was the actual target of the drive-by shooting which claimed Tupac’s life. Reggie White Jr, former Death Row Records security chief was also not left out in the allegations as Knight mentioned him as an accomplice in the murder.