50 Cent’s name may have more meaning than ever, as 50 cents may be all he has left!
On Monday, July 13, the rapper officially filed for bankruptcy.
This news comes after a court ordered 50 Cent (who also goes by the name Curtis Jackson III) to pay $5 million to fellow rapper Rick Ross’ baby mama, Lastonia Leviston, for emotional distress on Friday, July 10.
Leviston sued 50 Cent for posting a sex tape of her and Ross without her permission. She claimed that his actions almost led her to commit suicide.
In fact, 50 cent has dealt with several financially harmful court cases over the past two years (all of them ending with the rapper owing a lot of money)!
Most notably, the rapper was ordered to pay $17.2 million to Sleek Audio in 2014. The company claimed that 50 Cent copied headphone designs and tried to use them for his own profit. The bank even froze the rapper’s personal account at one point when he failed to make the payment.
The Connecticut bankruptcy filing reports that 50 Cent’s assets and liabilities both lay between $10 and $50 million.
It’s really too bad! Forbes even listed the rapper’s net worth at $140 million just one year ago!