50 Cent Reportedly Files for Bankruptcy
Published Jul 13, 2015The last we heard from 50 Cent, the rapper was promoting a new single called "Get Low." Now, things have gotten even lower for the performer as he's reportedly filed for bankruptcy.
The news comes from the Wall Street Journal, who report that the rapper born Curtis Jackson filed for chapter 11 bankruptcy protection in a Hartford, Connecticut courtroom today (July 13). The court papers reveal that Fiddy's got assets and debts in the range of $10 million and $50 million USD.
This news follows a recent sentencing requiring 50 Cent to pay out $5 million USD to Lastonia Leviston whose sex tape he leaked without her permission. He did so to get back at his rival Rick Ross, who has a child with Leviston.
50 Cent has yet to respond to the stories of his bankruptcy, though he continues to be active on his often hilarious Instagram account.
UPDATE: 50 Cent's legal counsel William A. Brewer III released a statement clarifying the filing, saying, "This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs."