50 Cent Officially Declares Bankruptcy

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Rapper 50 Cent has reportedly declared bankruptcy three days after losing a $5 million lawsuit against Rick Ross‘ baby mama.

According to Wall Street Journal, “In court papers 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.”
Reports have it that the rapper earned between $60 million and $100 million after the Vitamin Water sale in 2007.
Recently, the rapper was reported to worth around $270 million, largely thanks to his minority stake in Vitamin Water. In 2007, Coca Cola acquired his Vitamin Water company from Glaceau for $4.1 billion.
The rapper claims his assets are worth between $10-50 million, but his liabilities are about the same.

1 thought on “50 Cent Officially Declares Bankruptcy

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