Rapper Xatar's Debatable Financial Woes Surface after Unexpected Passing
Xatar apparently petitioned for financial insolvency
Get the scoop on the controversial hip-hop artist's mysterious bankruptcy filing, death, and the lingering question about his stolen gold.
Rumors of Bankruptcy Swirl
Last week, rapper Xatar, whose real name was Giware Hajabi, tragically passed away in Cologne. The state prosecutor's office is still piecing together the circumstances of Xatar's demise. Amidst the sorrow, it's come to light that Xatar had reportedly taken a leap into insolvency.
According to Germany's "Bild" newspaper, the rapper filed for personal bankruptcy at the Cologne local court in the fall of 2024. A court ruling approved his request in September of the same year. However, details on creditors, the amount of debt, or any planned recovery are yet to be disclosed.
Despite his bleak financial outlook, Xatar was allowed to keep his earnings from his artistic work, such as concert fees, streaming revenues, and royalties. These funds, outside the insolvency estate, hopefully offered him a path to financial redemption, albeit under the watchful eye of the court's supervision.
A Life Shrouded in Controversy
Xatar made quite the impression in the German hip-hop scene, but not always for the right reasons. His resume boasted a heist in 2009 that saw him snatch a cash-in-transit vehicle laden with dental gold and jewelry estimated at around €1.8 million. The treasure remains missing to this day, adding a layer of mystery to his life.
The story of Xatar's heist found its way into 2022's film adaptation "Rheingold," directed by Fatih Akin. Beyond the dramatic headlines, Xatar's music career thrived, with his second album created during his prison sentence.
In late 2023, several companies in Xatar's corporate group succumbed to insolvency, followed by the closure of his label "Alles oder Nix Records" in March 2024. Xatar, every bit the artist, openly admitted he'd bitten off more than he could chew with his entrepreneurial endeavors.
As of now, specifics on Xatar's bankruptcy timeline, creditors, or recovery remain undisclosed, adding another layer of intrigue to the talented, yet troubled, figure of Xatar. Keep an eye out for updates as more details emerge.
Financial troubles surrounding the late rapper Xatar, whose real name was Giware Hajabi, are being scrutinized beyond the circumstances of his death in Cologne. Amid rumors of personal bankruptcy, it's been revealed that Xatar filed for bankruptcy in a Cologne local court in fall 2024, and a subsequent court ruling approved his request in September of the same year. However, details on creditors, the amount of debt, or any planned recovery still remain undisclosed, raising questions in the realm of both his personal finance and debt management. On the other hand, his earnings from music, such as concert fees, streaming revenues, and royalties, were allowed to be kept, offering a potential route for financial redemption under the supervision of the court. Yet, the mystery surrounding Xatar's stolen gold adds another layer of intrigue to the life and financial woes of this controversial hip-hop artist.
