50 Cent bankrupt: Rapper has zero cents (metaphorically).

50 Cent Files for Bankruptcy

50 Cent Files for Bankruptcy

The Slatest has moved! You can find new stories here.
The Slatest
Your News Companion
July 13 2015 12:07 PM

50 Cent Files for Bankruptcy

50 Cent at the season premiere of the Starz show Power in New York City.

Dimitrios Kambouris/Getty

50 Cent has filed for Chapter 11 bankruptcy as an individual, court papers uncovered by the Wall Street Journal indicate. Though the rapper is and has been engaged in a number of prominent business enterprises—he was said to have made at least $60 million off Coca-Cola's 2007 purchase of Vitamin Water—a box is checked on the filing which attests that his debts are "consumer debts" that were "incurred by an individual primarily for a personal, family, or household purpose." The form says he has both assets and debts in the $10-$50 million range.

TMZ notes that on Friday 50 Cent—whose legal name is Curtis Jackson—lost a lawsuit filed by a woman named Lavonia Leviston, who alleged that he had leaked a sex tape in which she appeared in order to embarrass fellow rapper Rick Ross, who has a child with Leviston. The jury in that case ordered Jackson to pay Leviston $5 million in compensatory damages and may award her an even larger sum in punitive damages. Jackson also lost a $17 million lawsuit in December 2014 related to the design and marketing of headphones.


Chapter 11 bankruptcy allows a debtor to submit a plan to reorganize his/her/its finances and repay creditors over time. It does not require total liquidation of assets.