50 Cent Files For Bankruptcy

Posted: Jul 13 2015, 2:52pm CDT | by , in Latest Celebrity News


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50 Cent Files for Bankruptcy
Photo Credit: Getty Images

50 Cent has reportedly filed for bankruptcy, stating in court papers that he has assets and debts, which range between $10m and $50m.

The 'In Da Club' hitmaker has reportedly put in court papers to state he has assets and debts, which range between $10m and $50m.

The filing of the Chapter 11 bankruptcy protection has come just days after a court ruled that the rapper - whose real name is Curtis James Jackson III - should pay $5 million to a woman who sued him in a sex tape case, the Wall Street Journal reports.

During the court case, Manhattan Supreme Court Justice Paul Wooten asked that the rapper disclosed his financial assets but his lawyers revealed he had already filed for the Chapter 11 order in Connecticut, where he owns a home.

Only two months ago, Forbes estimated his net worth was around $155m. His fortune is thought to have been helped by his stake in VitaminWater, which was sold to Coca-Cola in 2007.

A source said at the time: "50 Cent was thought to have walked away with a figure somewhere between $60 million and $100 million."

However, his financial state doesn't seem to have worried him too much as he took to Instagram yesterday (12.07.15) to brand this year the best yet.

Captioning a photo of him with pals including Chris Brown, he wrote: "I can't remember a year that I had this much fun. Just good energy every were I go. #EFFENVODKA #FRIGO#SMSAUDIO (sic)"

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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