So is rapper 50 Cent really broke? The Wall Street Journal breaks it down.
According to the article, new court documents explains 50 Cent’s personal finances, including details about his income, his business investments and his spending habits.
On Monday, his lawyers filed 56 pages of financial information that’s required as part of the process to getting a fresh start through bankruptcy. The story from WSJ.com breaks down Curtis James Jackson’s assets, income, debt and more.
WSJ.com reports 50’s ASSETS – $24,823,899.18
Before filing for bankruptcy on July 13, Mr. Jackson had taken in $3.3 million in royalties, advances and merchandise sales for his “business income” as an entertainer so far this year.
In 2013, that amount was about $4.3 million total. Mr. Jackson listed his monthly income as $184,969.58, nearly all of which flows in through his interest and dividends in his G-Unit-branded record, film, television and touring businesses.
Forbes estimated his net worth to be $155 million, though the posting now says that the “number will be revised downward in light” of the bankruptcy. The publication once named him one of Hip-Hop’s Future Billionaires.
50’s DEBT – $32,509,549.91
Shortly after his bankruptcy, Mr. Jackson blamed his financial troubles on two multi-million dollar judgments and the cost of defending himself.
A bad business deal to develop headphones cost him $18.4 million in a lawsuit that followed. And a jury recently determined that Mr. Jackson should pay $7 million to Lastonia Leviston, who accused him of posting a sex tape of her online as part of a rap war with her now-ex-boyfriend Rick Ross.