50 Cent filed for bankruptcy protection

50-Cent1
Apparently, 50 Cent may not even have 50 cents to his name.
The so-called rap and entertainment mogul, who is the producer of the smash hit cable series “Power” and once sold his drinks to for tens of millions of dollars is now filing for bankruptcy.

The man born Curtis James Jackson III, 40, seeks Chapter 11 protection in U.S. Bankruptcy Court in Connecticut on liabilities worth between $10 million and $50 million, according to documents obtained by CBS News.

The move comes just three days after a jury directed 50 Cent to pay $5 million to a woman who sued over a sex tape. The woman said he acquired a video she made with her boyfriend and added himself as a commentator before posting it online without her permission.

50 Cent came on the scene in 2003 with “Get Rich or Die Tryin,'” which featured the monster club anthem “In Da Club.” Over the years, he’s been involved in various business ventures, including G-Unit records, and two production companies. He’s also invested in the mining and precious-metals industries and in the water drinks business.

In addition to celebrating the success of “Power,” the rapper will soon be seen in the upcoming boxing movie, “Southpaw.” 

Too bad, however, that the hit show can’t pay his bills.

Comments

From the Web

X
X