On Monday, it was reported that 50 Cent filed for chapter 11 bankruptcy according to documents filed at Connecticut Bankruptcy Court.
It's said that the paperwork was filed under the rapper's real name – Curtis James Jackson III — for assets and debts each between $10 million and $50 million. Yikes!
This development comes only a few days after a jury ruled that Disco Inferno performer would have to shell out $5 million to Lavonia Leviston over a sex tape that was posted without her permission.
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The entrepreneur was known as one of hip hop's wealthiest rappers after Coca-Cola bought one of his investments, Vitamin Water, and received somewhere between $60 million and $100 million. Wow!
To make matters worse, the producer recently lost a court case where a jury ruled that he'd have to pay $17.2 million after ripping off a headphones design.
Oh how the mighty have fallen. Especially since Forbes recently estimated Curtis' net worth at $155 million. Whoa.
However, the mogul doesn't seem to be in low spirits. He took to Instagram yesterday to share a pic (below) that made it seem like he was partying like it was his birthday. HA!
Hmm, very inneresting.
Talk about Get Rich Or Die Trying, right?! WE KID!
[Image via PNP/WENN.]
Tags: 50 cent, business blitz, controversy, instagram, legal matters, music minute, sex