50 Cent's filing for Chapter 11 bankruptcy -- "rich man's bankruptcy," as he puts it -- came as a surprise to many. After all, 50 netted as much as $100 million when he sold his stake of Vitamin Water in 2007. New bankruptcy documents obtained by TMZ shed insight into 50's financial affairs, as well as the reason he doesn't want to pay Lastonia Leviston the $7 million he owes her.
According to TMZ, 50 has $7.4 in the bank and $8.8 real property holdings, placing his total assets around $16 million. When you may remember that his debts totaled $28 million as of last July, it's not hard to see why 50 made the choice to file for bankruptcy and reorganize his financial affairs. It's also not hard to see why he's pursuing various lawsuits against his old lawyers and Rick Ross, among others.
[via]
