50 Cent is broke. In a stunning turnaround not long after he was declared one of the wealthiest figures in music, he has declared bankruptcy.
After 50 released a controversial sex tape of Rick Ross’ wife, he was sued and a jury handed down a steep $5 million verdict against him.
Chump change, you would think, for a man Forbes once estimated had a net worth of around $155 million, but apparently far from it.
The jury who gve Lavonia Leviston $5 million, having determined 50 released her sex tape to humiliate Ross, delivered the nail in the coffin.
Fiddy was ordered to produce proof of income and worth so the jury could come up with punitive damages … and he says he is bankrupt.
The rapper (real name Curtis Jackson) says his assets are valued between $10-50 million, but his liabilities are also in the same range.
So he’s still rich, in a sense, but given how much money he owes, those millions are worthless, as they’re allocated to various creditors.
Not to mention, 50 recently lost a court case where a jury hit him with a $17.2 million judgment over ripping off a headphones design.
It’s a shocking fall from financial grace, but he’s far from the first celeb to have experienced such a thing. Just ask Lindsay Lohan …
