Things have changed a lot for 50 Cent. According to court documents processed by the U.S. Bankruptcy in Connecticut, Curtis Jackson has filed for chapter 11 bankruptcy protection today. His assets and liabilities range from $10-$50 million and mostly come from consumer debt.
The news comes a few months after SMS Promotions (his boxing company) filed for “relief under chapter 11 of the Bankruptcy code” and only days following a ruling that has ordered him to pay Rick Ross‘ baby mother $5 million dollars for leaking her sex tape.
Meanwhile, POWER was beyond lit in that new episode this past week.
UPDATE: 50 Cent responds to the backlash and criticism of him being broke.
“I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target. I don’t wanna be a bullseye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that. Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward.
I gotta decent legal team. You don’t have to worry.”
OS REWIND: Rotimi – Lotto (feat. 50 Cent)
OS REWIND: 50 Cent & Rotimi Interview with The Breakfast Club
[Source]