httpss://www.youtube.com/watch?v=5D3crqpClPY
Rapper 50 Cent filed for Chapter 11 bankruptcy according to records filed in Connecticut Bankruptcy Court.
The courthouse supported to EW that 50 Cent, whose given name is Curtis James Jackson III, reported assets and debts each between $10 million and $50 million.
“This filing for personal bankruptcy protection permits Mr. Jackson to continue his engagement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his fiscal affairs,” William A. Brewer III, Jackson’s counsel said in a statement.
The Wall Street Journal initially broke the news, which comes just a couple days after a jury ruled that Jackson would pay $5 million to a girl who sued him over a sex tape that was posted without her permission, the Associated Press reported.
At one point, Jackson was though to get an estimated net worth of nearly half a billion dollars, thanks to his stake in Vitamin Water.
The Washington Post reported that when Coca Cola purchased the company in 2007 Jackson made somew between $60 million and $100 million.
This post was updated to add a statement from 50 Cent’s lawyer.