50 Cent out of dollars?
Associated Press | 7/17/2015, 3:34 a.m.
Associated Press
HARTFORD, Conn.
Rapper and actor 50 Cent filed for federal bankruptcy protection Monday, days after a jury ordered him to pay $5 million in an invasion-of-privacy lawsuit.
50 Cent, whose real name is Curtis Jackson III, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Hartford. He owns a 50,000-square-foot mansion in nearby Farmington, Conn.
The filing lists both the assets and liabilities for the “Get Rich or Die Tryin’” artist as between $10 million and $50 million and indicates his debts are primarily consumer and not business related.
The filing comes after a New York jury on July 10 ordered Mr. Jackson to pay $5 million to a woman who said he acquired a video she made with her boyfriend, added himself as a crude commentator and posted it online without her permission.
The jury this week was scheduled to deliberate on possible further, punitive damages in Lastonia Leviston’s invasion of privacy lawsuit against him. But the bankruptcy filing may put the trial on hold.
50 Cent has built an empire beyond entertainment. He invested early in Vitamin Water and has expanded his business interests into clothing and audio equipment.
He also was named by Forbes in May as one of hip-hop’s five wealthiest artists for 2015.
