50 Cent files for bankruptcy

[Stopspot]

Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday.

In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.

The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday.

The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported.

/Wallstreet Journal.

Didn't he have an empire built around himself?

 

[Farooq]

Guess he'll only be 25 cent now :sad:

 

[Prince Bálor]

:damn:

 

[The GOAT]

His rapper name suddenly makes sense now.

 

[Aids Johnson]

lmfao his label bombed so poorly. From porn to media to entertainment, he should have stayed Shady.

 

[CM Punk]

He still rich.

 

[Dolph'sZiggler]

Chapter 11, not chapter 7. he ain't broke folks

 

[Dolph'sZiggler]

lmfao his label bombed so poorly. From porn to media to entertainment, he should have stayed Shady.

He made by and far most of his money in vitamin water lol. He sold his shares to coke for 100 mill bruh

 

[Aids Johnson]

He made by and far most of his money in vitamin water lol. He sold his shares to coke for 100 mill bruh

I forgot about that, the fuck do you piss away that kind of money alone?

 

[Dolph'sZiggler]

I forgot about that, the fuck do you piss away that kind of money alone?

Bad business ventures I'm guessing. I know he was getting into boxing promoting, he could have lost a lot doing that type of shit.

Google helped me out.

The rise and fall of 50's net worth

http://www.businessinsider.com/50-c...-2015-7#ooid=VlbnI2djrZXIh9tIkLc68cC984sL8GSb

 

[InSaNe]

He still rich.

Yep.

Chapter 11, not chapter 7. he ain't broke folks

Correct.

1. This is a publicity stunt.
2. He currently Executive Produces "Power." Which he claims to have made only $100k-ish the whole season (which I think is bullshit. If true, then he got ripped off).
3. His business ventures more than keeps him afloat.
4. Bankruptcy at Chap 11 keeps lawsuits at bay. Simple as that.