50 Cent, who has been one of the most successful businessmen in the music industry for years, has filed for chapter 11 bankruptcy, according to court documents obtained by Wall Street Journal. In the documents, 50 reported that his current assets and debts were in the vicinity of $10 million to $50 million in total. Over the weekend, 50 was ordered by a judge to pay $5 million in a leaked sex tape lawsuit, after the mother of Rick Ross‘ child sued 50 for leaking her sex tape when the two rappers were beefing years back.
After leaving his longtime label Interscope back in 2014, 50 was thought to have a current net worth around $270 million. He built up his wealth through ventures outside of rap, and most notably his deals with Vitamin Water, SMS Audio, and now Effen Vodka. We will continue to update this story as more details are made available.
Just two month ago, Forbes reported 50 Cent as one of the richest men in hip-hop with a worth of about $155 million.
I’m sure 50 will be able to make it out of this okay, even if this means another mediocre album or two, but after all the times he clowns people, it seems karma has come back a bit to clown him.
