His rapper name refers to small change, but that’s obviously not what you can call his debt.
The recording artist, who filed for bankruptcy under his real name of Curtis James Jackson II, did so in U.S. bankruptcy court in Connecticut. He listed his estimated assets between $10 million to $50 million, with liabilities in the same range. Those figures call earlier estimates into question.
It occurred three days after he was sentenced to a fine of five million dollars for publishing a sex tape with the woman Lastonia Leviston without her consent.
Was worth $ 140 million.
The now 40-year-old rapper broke through in 2003 with the album “Get Rich or Die Tryin ‘, which among other things included the mega hit’ In da Club ‘. He did so with the help of Dr. Dre and Eminem, who took Jackson under their wing after hearing his debut album.
He had an image as a poor kid with lots of problems that used the rap music to get out of his troubled past. Jackson had among other things, sold drugs on the street and in April 2000 he survived being shot nine times.
But his subsequent albums never achieved the same success. and despite being part of several movies and being considered to be a good actor, he is now declared bankrupt.
Though Jackson first became known for his career as a popular rapper, his business dealings are almost equally legendary. He made a reported $100 million when VitaminWater, in which Jackson was an investor, was sold to Coca Cola. Other moves were less successful: a clothing line has since shuttered, a headphones debacle resulted in a multi-million dollar lawsuit, and a vodka partnership failed to generate significant buzz on liquor shelves. 50 Cent is still trying to make waves in the audio world
As late as May 2015 he as estimated to be worth $ 155 million. But several legal showdowns on, among other rights, and dwindling album sales, have apparently eroded the money.