Lil Wayne Birdman

Years of wild spending has apparently caught up with Cash Money Records owners Lil Wayne, left, Bryan “Birdman” Williams, right, and Ronald “Slim” Williams (not pictured).

According to a report on gossip tabloid TMZ’s website, Cash Money Records’ unpaid bills are stacking up and creditors are filing lawsuit after lawsuit against the brothers. It looks like the cash machine is running out of unlimited funds.

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Michael Jordan is Officially a Billionaire

NBA legend Michael Jordan is officially a member of the billionaire boys club. The 51-year-old former Chicago Bulls star just added hundreds of millions of dollars to his personal wealth by increasing his ownership in the Charlotte Hornets from 80% to 89.5%. Before expanding his portfolio Jordan had a net worth of $750 million.

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Paris and Prince Jackson

The late Michael Jackson‘s three children are already wealthy beyond their wildest dreams. But a recent cost of living adjustment has increased their yearly allowance from a modest $6 million to over $8 million annually. Family friends say the kids are taking full advantage of the boost in their allowance.

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Someone in Los Angeles is going around leaving hundreds, and sometimes thousands of dollars in tips for servers in local bars and restaurants. The servers, waiters and waitresses who are sometimes stiffed on their tips are very grateful for the kindhearted gestures of the anonymous tipster. The person, or persons, who left tips worth $200 to $10,000 for servers, created an Instagram page where servers can upload their receipts called Tipsforjesus. The motto on the @TipsforJesus Instagram page is: “Doing the Lord’s work, one tip at a time.”

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New Benjamins

In an effort to stay one step ahead of organized, well-financed counterfeiters, the Federal Reserve is issuing crisp new $100 bills on Tuesday.

The new $100 bill, which was announced on April 21, 2010, will be released despite the government shutdown (nothing but an act of God stops the U.S. from printing money).

The new C-notes feature updated anti-counterfeit measures including raised printing, microprinting, and color shifting images. Benjamin Franklin’s image is off-center and there are numerous references to the Constitution printed on the bills.

An earlier release date was scrapped when a printing error sent 30 million notes to the incinerator.

The old $100 bills will be gradually removed from circulation by banks and the Federal Reserve.

Floyd Mayweather cash

Champion boxer Floyd Mayweather has everything money can buy. Too bad his money can’t buy him common sense or self-esteem, because then he would truly be prosperous.

Mayweather’s millions keeps him relatively comfortable — and he makes sure to always have at least a million in cold cash on hand. As for the rest of his money, according to ESPN The Magazine, the narcissistic pugilist keeps $123 million in a single bank account.

By the way, the FDIC covers bank deposits up to $250,000. So if Floyd’s bank ever goes under, the majority of his cash will go down with it.

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Rick Ross sued by jeweler

Last year the timepiece of choice for the hip hop set was Audemars Piguet (because rappers like Jay Z favor the brand). This year, the timepiece of choice seems to be the legendary Rolex. So much so that jewelers can’t keep the pricey watches in stock.

Rapper Rick Ross has always had a taste for finer things since the days when he punched a clock as a corrections officer in Florida. But a jeweler is suing Ross for absconding with about $90,000 worth of Rolexes that he didn’t pay for. Read on.

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Dr Dre Donates $70 Million to USC

That’s not a typo. Rapper Dr. Dre donated $70 million to USC to train “and inspire a new generation of innovators.” Music industry executive Jimmy Iovine also pitched in a couple hundred million.

Both men donated to a program entitled the “USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.” The purpose of the program “is to shape the future by nurturing the talents, passions, leadership and risk-taking of uniquely qualified students who challenge conventional views of art and industry,” according to USC.

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Lauryn Hill pays her taxes to avoid prison

Troubled singer Lauryn Hill paid her overdue tax bill today, but that didn’t save her from doing a time in the federal pen.

USA Today reports that Hill was sentenced to 3 months in prison for failing to pay $1 million in overdue taxes.

Prior to the hearing, Hill’s attorney, Nathan Hochman, said in an email to TIME magazine Monday that Hill paid $970,000 to satisfy state and federal back taxes. Hill, but apparently that wasn’t enough for the judge.

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