Rapper 50 Cent has filed for bankruptcy, The Wall Street Journal reports.
Despite Forbes estimating Curtis Jackson’s worth at $155 million in May due to his investments in Vitamin Water company Glaceau, which have reportedly netted him $500 million, papers filed in Connecticut report that he assets in the range of just $10 million to $50 million – the same range as his debts.
The filing isn’t the first financial problem the rapper has faced in recent months. In December, his bank account was frozen after failing to pay damages to headphone company Sleek, while in May his boxing promotion company SMS Productions was also forced to file for bankruptcy.
Jackson’s money woes came to head this weekend when he was forced by a jury to pay $5 million in damages for emotional distress and invasion of privacy to Lastonia Leviston, an ex-girlfriend of Rick Ross. Jackson was alleged to have uploaded a sex tape to the internet of the pair as part of a feud with Ross.
To think, just a few hours ago, Jackson was tweeting about how he couldn’t remember a year where he’d had so much fun. Perhaps that’s where most of his once sizeable fortune has gone?