Monday, July 13, 2015

50 cent literally does not have 50 cents; Rapper 50 Cent files for bankruptcy

50 cent

Jamie McCarthy/Getty Images

Rapper 50 Cent has 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," reports the Wall Street Journal.

The filing comes just three days after the "Get Rich or Die Tryin'" rapper was ordered to pay $5 million to a woman who sued him for posting a sex tape online.

Previously, 50 Cent was recently reported to be worth around $270 millionlargely thanks to his minority stake in Vitamin Water.  In 2007, the Coca Cola Company acquired Vitamin Water from Glaceau for $4.1 billion.

According to the Washington Post at the time, "50 Cent was thought to have walked away with a figure somewhere between $60 million and $100 million, putting his net worth at nearly a half billion dollars."


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