Who saw this one coming? Rapper-entrepreneur 50 Cent filed for chapter 11 bankruptcy today (July 13).
50 Cent (real name Curtis Jackson III) filed the court papers in the U.S. Bankruptcy Court in Hartford, Conn., with debts ranging from $10-50 million, according to the Wall Street Journal.
50 was just ordered to pay $5 million to Lastonia Leviston, the mother of Rick Ross’ child, for allegedly leaking her sex tape with the Bawse online.
The Queens rapper has made a helluva lot of money over the years, including $100 million from a deal with Glacéau. His Starz hit television show, Power has already been renewed for a third season. He has a net worth of $155 million.
PHOTO CREDIT: Getty
50 Cent's Most Lucrative Business Endeavors
1. SMS Audio: This company that primarily sells headphones was founded by 50 Cent in 2011. In the same year, the company acquired Kono Audio. As far as the competition goes, he once said Dr. Dre's "Beats is Nike. We're Adidas."Source:Getty 1 of 8
2. Power: 50 Cent is into all sorts of entertainment. Though he obviously stars in the Starz hit series "Power," did you know he also produced the show? "Power" holds the "most viewers ever for a Starz original series" record.Source:Getty 2 of 8
3. Vodka: 50 Cent has recently partnered with Effen Vodka. The "ultra-premium" liquor comes in lots of flavors, including Black Cherry, Dutch Raspberry, Cucumber, and Salted Caramel.Source:Getty 3 of 8
4. SMS Promotions: 50 Cent started this boxing promotional company after his joint project with Floyd Mayweather, TMT Promotions, failed. Though SMS Promotions reportedly declared bankruptcy this year, it previously promoted boxers such as Andre Dirrell, Chris Galeano, and more.Source:Getty 4 of 8
5. SK Energy: Street King is an energy drink created by 50 Cent and his partner Chris Clarke. It boasts a variety of flavors, and was rebranded as "SK Energy" in 2012.Source:Getty 5 of 8
6. Frigo Underwear: 50 Cent put his insane body on full display in a series of advertisments for the underwear company this year.Source:Getty 6 of 8
7. VitaminWater: 50 Cent made $100 million after selling his stake in the privately owned company.Source:Getty 7 of 8
8. G-unit: We can't forget about the clothing company that 50 Cent started in 2003 and relaunched in 2010. 50 maintains full ownership of the clothing line.Source:Getty 8 of 8
Rapper & Entrepreneur 50 Cent Files For Bankruptcy was originally published on theurbandaily.com