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Rapper 50 Cent declares bankruptcy

American rapper and entrepreneur Curtis James Jackson III, or better known as 50 Cent, has declared bankruptcy as of yesterday, 13 July 2015.

After getting sued recently for posting a sex tape online, the 40-year-old rapper was ordered to pay USD5 million to Lavonia Laviston, who claimed that 50 acquired an adult video she made with her boyfriend before posting it online without her permission.

According to the bankruptcy filing obtained by TMZ, it shows that the rapper’s assets and liabilities are valued between USD10 and USD50 million.

In May 2015, Forbes estimated the award-winning rapper’s net worth at USD155 million.

(Photo source: straight.com)


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