Just five years after his wealth was estimated to be about $500 million by Forbes magazine, G-Unit rapper and label CEO, Curtis Jackson aka 50 cent has filed for Chapter 11 bankruptcy.
According to court documents filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.
The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported.
The rapper was found guilty of posting a sex tape featuring Rick Ross’s babymama online as part of his rap beef with the Maybach Music rapper.
50 cent is notorious for flaunting his wealth online.
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