For years, 50 Cent was heralded as one of the richest men in hip-hop and he flaunted his wealthy status for the world to see. But now after losing a major lawsuit last year, 50 is revealing just how far his riches have plummeted since his heyday.
As previously reported, 50 lost a $5 million lawsuit against Rick Ross’ baby mama, Lavonia Leviston, last July after a jury decided that the rapper intentionally leaked her sex tape on the Internet during a heated online feud with Ross. Just days after losing the case, 50 filed for bankruptcy, saying that he had way less money than the public thinks he does.
Now, according to media reports, new bankruptcy documents of 50’s have surfaced and in them the mogul claims that he only has $7.4 million in the bank. 50 also claims that he has real property holdings of about $8.8 million, which makes his total assets slightly more than $16 million.
Unfortunately for 50, it’s a stark difference from the more than $150 million that Forbes estimated he was worth last year, and it certainly doesn’t leave much money for him to pay off his legal debt. Making matters worse is that 50 sold his interest in Vitaminwater for anywhere between $60 million and $100 million, but it seems even that money has mostly dried up as well.
It looks like 50 better make some lucrative business deals in the near future, otherwise he’ll go beyond being “rich man broke” and he’ll just be flat out broke.
