50 Cent Bankrupt:  Once Had Networth Of $50 Million

50 Cent Bankrupt: Once Had Networth Of $50 Million

50 Cent bankrupt50 Cent has filed for bankruptcy.

According to a report from the AP, the Candy Shop rapper filed the legal documents on Monday, three days after he was ordered to pay Lavonia Leviston $5 million when a jury determined the rapper had intentionally acquired an X-rated video she made with her boyfriend, added himself as a crude commentator and posted it online without her permission to embarrass his rap rival Rick Ross, who fathered a child with the woman.

The artist, real name Curtis James Jackson, issued papers in the US Bankruptcy Court in Hartford, Connecticut today.

Jurors are set to decide on possible further, punitive damages in Lavonia Leviston’s invasion-of-privacy lawsuit against the Get Rich or Die Tryin’ rapper this week.

The filing lists both his assets and liabilities as between $10 million and $50 million.

“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs,” William A. Brewer III, Jackson’s counsel said in a statement.

At one point, Jackson was though to have an estimated net worth of nearly half a billion dollars, thanks to his stake in Vitamin Water. The Washington Post reported that when Coca-Cola bought the company in 2007 Jackson made somewhere between $60 million and $100 million.

Jackson’s attorneys and his publicist did not immediately respond to phone and email requests seeking comment on Monday.