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50 Cent Will Lose A LOT More Than Two Quarters As He's Now Filed For Bankruptcy! Get The Scoop!

| Filed under: Music MinuteLegal Matters50 CentBusiness BlitzSexInstagramControversy

50 cent files bankruptcy

Oh no!

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.

[ Related: Mark Wahlberg & 50 Cent Surprise The New Kids On The Block In Concert! ]

Whomp, whomp.

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.]

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