50 Cent faces financial problems, rapper files for bankruptcy

By Germaine Benson  |  July 13, 2015 at 1:38 PM
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HARTFORD, Conn., July 13 (UPI) -- Rapper 50 Cent filed for Chapter 11 bankruptcy on Monday morning.

In addition to being a recording artist, Curtis James Jackson II was involved in many business ventures, including a $100 million deal for selling Vitamin Water to Coca Cola.

According to Fortune, as of May, his estimated net worth was $155 million.

Earlier this month, Jackson paid Lavonia Leviston a $5 million settlement for releasing a sex tape of her and another man.

The hip-hop star's bankruptcy documents reveal that his assets and liabilities are both valued between $10 million and $50 million.

Judging from his latest Instagram post, Jackson isn't taking his financial struggles too hard. He posted a picture with Chris Brown and other friends at a party, writing, "I can't remember a year that I had this much fun. Just good energy every were I go. #EFFENVODKA #FRIGO #SMSAUDIO"

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