Rapper Curtis Jackson, aka “50 Cent,” claims that his assets are worth about $25 million, but that two separate court-ordered payments plus other high expenses have pushed him into bankruptcy.
He filed a statement of his financials in Connecticut bankruptcy court on Monday, and Business Insider has obtained a copy of it.
Here’s how Jackson says he’s drained his millions in just a few years’ time.
The money going out: $108,000 per month in expenses and millions of dollars in lawsuits
Apparently, 50 Cent was primarily forced into filing for bankruptcy after two court judgments put him over the top. There’s the $7 million owed to Lastonia Leviston, the woman had won the payment in court after the rapper allegedly released a sex tape of her to embarrass the rapper’s nemesis, Rick Ross, who had fathered one of her children.
And then, there’s the electronics company Sleek Audio, which he owes an $18 million court-ordered payment after a partnership to produce headphones fell apart.
Those court orders total about $25 million, the amount 50 Cent claims in assets.
But, that’s just the tip of the iceberg. The rapper claims another $7 million in liabilities.
50 Cent says he has about $108,000 in monthly expenses, which include his homes and personal expenses.
Got the drop at Business Insider . . .