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Rude Boy Magazine

Curtis James Jackson III, known as the rapper 50 Cent, filed for Chapter 11 bankruptcy protection in the U.S. District Court of Hartford on Monday July 13, 2015. The rapper has a strong financial history of making $100 million in VitaminWater sales, closing a $78 million deal with FRIGO Revolution Wear, producing for TV series “Power”, and acting in upcoming film “Southpaw”.

 

The Wall Street Journal reported that Curtis is facing multi-million-dollar debts, in addition to facing legal claims of $5 million over a sex tape, $17.2 million over a headphone design lawsuit, and is facing issues with his label over the release of “Street King Immortal”, the studio album he has yet to release until November.

 

Just to be clear, Curtis filed for bankruptcy because of his company and investments experiencing a decline financially, however, he is not officially reported as broke.

{Via OregonLive}