The 21 bedroom, 9 kitchen home filled with a Casino, costing 50 cent 72, 000 a month just for maintenance alone is now becoming an overwhelming expenditure.
Ever since Curtis Jackson had been sued by a woman for $5 million dollars over posting her sex tape without permission, many of his other assets started to fold leaving the only option for the entrepreneur to file Chapter 11 bankruptcy.
However, there’s been a debate whether filing chapter 11 necessarily means your broke. It simply means there’s a temporary hold on the debts that has to be paid out.
According to one of Jackson’s attorneys,
“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.”
The pioneer rap star closed a $78 million dollar deal with FRIGO Revolution Wear in 2014, founded one of the top competitors to Dre Beats with SMS Audio, earned triple share in Vitamin Water after the beverage was bought by Coca Cola in 2007, which were the least of his business ventures landing the mogul at a $155 million dollar Forbes List net worth.
Hopefully 50 Cent will keep his hopes high and get his finances back on track.
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