This, we didn’t see coming
According to the Wall Street Journal, 50 Cent officially filed for chapter 11 bankruptcy earlier today.
According to the court papers, which were filed in Connecticut this morning, Fif, born Curtis Jackson III, reported both assets and debts in the range of $10 to $50 million. To add a bit of perspective, filing for chapter 11 is used, and has been used by many in the past, as a strategic business maneuver, but the Journal was unable to reach the attorney filing on Jackson’s behalf for comment or clarification.
Last week, a jury ordered that 50 Cent pay Lastonia Leviston, the mother of Rick Ross‘ daughter, $5 million after 50 used a sex-tape she made with a former boyfriend–not Ross–in a parody video he made under the moniker Pimpin’ Curly.
Among the assets 50 reported were certainly his stake in several enterprises, including the hit TV show Power, the liquor venture he’s recently invested in, Effen Vodka, and SMS Audio.
1 Comment
That’s a smart economical bisnis move .
So he doesn’t have to pay his debts and rip offs no more !
That’s what it really will come down to anyway !