50 Cent (real name Curtis James Jackson III) has just filed for bankruptcy. A petition filed in the U.S. Bankruptcy Court in Hartford, Connecticut, today says that the Grammy winner has estimated assets and debts in the $10 million to $50 million range. It also indicates that Jackson has “between 1 and 49 creditors”. (Not 50?) This seems like a ploy, considering that Jackson is considered one of the hip-hop community’s best businessmen. The bankruptcy comes just days after a jury ordered Jackson to pay $5 million to a woman who accused the rapper of obtaining a sex tape she had made and posting it online without her permission.
50 founded G-Unit Records and G-Unit Films, and cofounded of the G-Unit Clothing Company. He partnered with Glacéau, the creator of Vitamin Water, on an enhanced water drink called Formula 50. Jackson had a minority share in that company and he reportedly earned over $100 million AFTER TAXES when Coca-Cola purchased Glacéau. In 2014, Forbes said 50 Cent was the fifth most wealthy artist in hip-hop, saying his net worth was around $140 million.
Seems unlikely that he’s really broke, doesn’t it? (via Mashable)