Annual Forbes list frontrunner, 50 Cent, has decided to file for bankruptcy just days after a judge ruled that the hip hop mogul would have to pay his former rival Rick Ross’ baby mother over $5 million in lawsuit damages.
Who knew Fif could stoop so low?
50 Cent has reportedly fallen on hard times. After being deemed as one of hip-hop’s cash kings for almost a decade, Fif filed for chapter 11 bankruptcy on July 13, according to reports. He reportedly has assets and debts that range between $10 and $50 million.
After a judge ruled that he pay Rick Ross’ ex, Lastonia Leviston, $5 million for intentionally releasing a sextape of her and being ordered to payout $17.2 million to Sleek Audio after it was determined he ripped off one of their designs, the “I Got Money” rapper is short on cash.
The G-Unit general filed for bankruptcy just two months after he ranked at no. 4 on the Forbes Five list, which listed the wealthiest people in hip-hop. His estimated net worth was $155 million thanks to his business ventures with SMS Audio, Effen Vodka, SK Energy and Frigo underwear.
We can’t hate on 50 for trying to save the empire that he built. More money, more problems.