Chinese actor and singer Luo Zheng has opened up about his financial struggles. The 30-year-old star first drew attention through the 2018 survival show Idol Producer and later transitioned into acting, taking leading roles in several web dramas. Nearly a decade into his career, however, he revealed that he has only 4831.93 yuan (approximately US$700) in his bank account. As it turns out, his current financial situation is largely the result of a costly legal battle with his former agency.
Former Agency Lawsuit Left Him Deep in Debt
Luo Zheng explained, “It was mainly because I paid back debts. If I hadn’t paid them, I would actually still have quite a lot of money.” He revealed that he was ordered to pay a huge penalty after leaving his former company. According to him, the agency demanded 50 million yuan (around US$7 million) for breach of contract, not to mention lawyer’s fees he’s still paying off despite losing the case. He lamented, “After all that, I didn’t really achieve anything.”
How Much He Earned
Reflecting on his income after Idol Producer, Luo Zheng said it only appeared impressive. “In the first year, the total revenue was probably two to three million yuan (US$300K-$400K),” he recalled, “but the amount that actually reached me was only around 20,000 yuan (US$3000).” He explained that artists have to repay the company first for the costs invested in their training. He only learned the full extent of these charges during his legal dispute. “I didn’t know things like water dispensers and light bulbs would also be charged to us,” he revealed. Some costs allegedly included staff-related expenses, such as assistants’ salaries and even transportation and hotel for staff who visited them. “Anyway, when I was at my most popular, my annual income was 80,000 yuan (US$12,000),” he said.
Staying Optimistic Despite the Setbacks
The actor shared that he managed to find a new manager to start over and begin filming again, but his agency immediately came to block the arrangement unless he paid his earnings to them. During that difficult period, he admitted that he even considered becoming a sexy streamer and took some photos in preparation. However, he quickly realized he’s clueless about it and gave up. Now that he has put the troubles with his former agency behind him and cleared his debt, he has run into another challenge, the downturn in the Chinese entertainment industry. Nevertheless, Luo Zheng candidly revealed that his bank account has recently increased by a couple thousand. He has just finished filming one project and is set to start another soon, which should bring in some more income. His excitedly shared his current goal to hit 10,000 yuan (about US$1,500) in savings.
Many netizens couldn’t help but laugh and sympathize with Luo Zheng’s rather miserable situation. Some commented that he should try comedy, as his storytelling is both hilarious and heartbreaking. Others expressed their support and said they hope he gets his big break soon. As to him being very optimistic, Luo Zheng replied with a laugh, “That’s because I don’t have any other choice. Hahaha.”
Source: 内娱和TA的经纪人
Anon
It’s ok. Just don’t feel despair. Most young people have faced this kind of financial struggles on the career path. Including myself. I didn’t have to pay off my own contractual debt, but I had to help pay off the parents’ debt and contribute towards helping my siblings through college. There was no real savings to speak of. I only make sure I had enough for my monthly expenses like rent, transport and food from my paycheck.
The days of struggles all passed eventually. Those days were also happy days for me. I had a good job. I had friends, The beach was free. I met my first love.
Merry
I hope his story spreads some awareness for artists who are inspired by an actor and not to rush to sign a contract just becasue they get approached and should carefully read the it first ,and honestly 3 years is already long enough i see many force to sign 10years contract ,that crazy