50 Cent Files For Bankruptcy
50 Cent has reportedly fallen on hard times. After being deemed as one of hip-hop’s cash kings for almost a decade, Fif filed for chapter 11 bankruptcy on July 13, according to reports. He reportedly has assets and debts that range between $10 and $50 million.
After a judge ruled that he pay Rick Ross’ ex, Lastonia Leviston, $5 million for intentionally releasing a sextape of her and being ordered to payout $17.2 million to Sleek Audio after it was determined he ripped off one of their designs, the “I Got Money” rapper is short on cash.
The G-Unit general filed for bankruptcy just two months after he ranked at no. 4 on the Forbes Five list, which listed the wealthiest people in hip-hop. His estimated net worth was $155 million thanks to his business ventures with SMS Audio, Effen Vodka, SK Energy and Frigo underwear.