More details arrive on 50 Cent's bankruptcy situation.
As most of you are probably aware by now, 50 Cent filed for Chapter 11 bankruptcy earlier in the week. This came to a shock as most, seeing as how many businesses Fif has his hands in. 50 released a statement on the filing later that same day, which (sorta) explained the motive behind it. "The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests," the statement read.
Today we have more details on what exactly 50's financial situation is looking like these days, via the NY Daily News. The website lays out all the debts 50 owes and to whom. Among them, he reportedly owes Sleek Audio $18,428,257 from a lawsuit that didn't go his way, and he's been unsuccessful at appealing the judge's verdict. Following that, is second biggest creditor is Lastonia Leviston, whom a judge recently awarded $5 million in damages following 50 leaking a sex tape of her.
50 also owes $1,737.33 to his grandfather and $137,880 to Bentley for his car lease. He's also racked up $1 million in legal fees which he hasn't been able to pay yet.
50 Cent's assets reportedly do not exceed $15 million. We'll keep you posted on this case.