Lil Wayne Takes Out a Loan to Pay Private Jet Bill

Lil Wayne Takes Out a Loan to Pay Private Jet Bill

Tunechi borrows $1.5 million, uses his skatepark as collateral.

Published November 23, 2015

With a multi-million-dollar lawsuit still in limbo, Lil Wayne is tapping another financial resource to officially settle a massive transportation bill. Wayne used his beloved Miami skatepark as collateral on a $1.5 million loan, TMZ reports. 

Tunechi’s mansion was raided earlier in the month for not paying a $2 million judgment to a private jet company. Among the personal items seized by authorities were pieces of the rapper’s reported $30 million art collection.  

Signature Group sued Wayne for $1 million last year and in September 2015 he was ordered to shell out double the amount, including the company’s legal fees. Signature claims Wayne leased a private jet for $55,000 a month in addition to landing and maintenance fees. He denies entering into a contract with the company.

Borrowing money doesn’t necessarily mean the Young Money founder’s reported $140 million fortune is in a deficit. Nonetheless, the loan allows Weezy to pay the bill and get his stuff back from the mansion raid.   

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(Photo: Kevin Winter/Getty Images for iHeartMedia)

Written by Latifah Muhammad

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