50 Cent Files For Bankruptcy
50 Cent made millions rapping, and he made more millions endorsing Vitamin Water. He became the world’s most popular rapper by projecting a more convincing hardness than anyone else in rap while still crooning slick melodies, and he lost that audience by making so many flagrant pop moves that he came off as a soulless mercenary. Even after his fall from popularity, he could still lord his obscene money-piles over just about everyone else in rap. Not anymore. 50 Cent has now filed for bankruptcy.
Last week, a court ordered 50 to pay $5 million to Lastonia Leviston, Rick Ross’ baby’s mother. Leviston sued 50 after 50 posted a sex tape of Leviston and another man online as an effort to taunt Ross during their 2009 feud. And now CNBC reports that 50 has filed for bankruptcy in Connecticut Bankruptcy Court. This is all an attempt not to pay Leviston that much money, clearly. Documents filed with the court show 50’s assets and debts to be in the $10 million to $50 million range. Still, what a fall.
UPDATE: 50 shared a statement about the 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 forward. I gotta descent legal team. You don’t have to worry.