This is a trying period for rapper, 50 Cents. He allegedly posted a sex tape of a woman on the internet without her clearance and the court has ordered him to pay $5 million to her as compensation for damages.
Wall Street Journal reports that the rapper’s current assets and debts are in the range of $10 million and $50 million respectively
WSJ sourced this details from papers filed in a US Bankruptcy Court in Hartford, Connecticut.
Following the court order, Curtis Jackson –50 Cents– has filed for bankruptcy, exactly three days after the ruling.
The move that has garnered real buzz in the US and around the world, considering 50 has a net worth of over $155 million, according to Forbes reports.
Reacting to the development, Jackson says:
“I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target. I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.
Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving toward. I got a decent legal team. You don’t have to worry.”
In 2009, the rapper 50 cent got hold of a sex tape involving embattled rapper and erstwhile adversary, Rick Ross, and sought to use it to his advantage as they both sparred here and there within the industry.
The tape allegedly features rapper Rick Ross and Lastonia Leviston.