Your favorite rapper may be having some financial problems.
A few years ago, I randomly met 50 Cent. His tour bus happened to be parked behind my office, which is next to the luxury hotel he was staying in. As I was curiously looking at the bus that pictured the faces of G-Unit, the door popped open and a very large, very nice gentleman asked if I wanted to look inside. I figured the odds of my getting shot/kidnapped/murdered in broad daylight were pretty low, so I accepted his offer and stepped aboard. Lo and behold, there was Curtis Jackson himself, chilling on his couch playing video games. After some small talk and a quick tour, I popped off the bus and thought to myself, “What a nice guy.” Despite, you know, the whole used-to-be-a-drug-dealer and probably-had-lots-of-guns-onboard thing.
Well, unfortunately, that very nice guy is now in a bunch of financial trouble. According to The Wall Street Journal, the artist formerly known as Curtis James Jackson III, filed for chapter 11 bankruptcy protection Monday morning in Hartford, CT. In his filing, Jackson listed assets and debts each in the range of $10 million to $50 million.
And what exactly are those assets and liabilities? While the docs don’t say specifically, Jackson may or may not still live the Farmington, CT mansion that he purchased in 2003, which was previously owned by Mike Tyson. The place has been on and off the market since 2011, and has 17 acres of land along with 21 bedrooms and 25 bathrooms. (Here’s a tour, if you’re interested). Then there’s a little issue of a sex-tape lawsuit verdict that came down on Friday; according to the Associated Press , “A jury ordered the rapper-actor to pay $5 million to a woman who said he acquired a video she made with her boyfriend, added himself as a crude commentator and posted it online without her permission.”
Oh, Fifty. In 2014, Forbes listed you as the fifth-richest figure in American hip hop, with an estimated net worth of $140 million. Of course, most of that money came from the $100 million you made from the sale of Vitamin Water in 2007 as opposed to actual music royalties, but still…how the mighty have fallen. I’m not particularly worried. Plenty of successful people have filed for Chapter 11 and come back from it, and this is a guy that survived 9 bullet wounds..
[via The Wall Street Journal]