Since then, he has gone on to build a successful music empire which, according to Forbes magazine, is valued at $155 million. Now the rapper is facing a different kind of trouble; rather than staring down the barrel of a gun, he’s looking at millions of dollars of debt which could mean financial ruin. Be on the safe side and manage your debt; if this can happen to Fiddy, it can happen to you too.
His recent filing for bankruptcy followed a lawsuit in which he was ordered to pay upwards of $5 million after he allegedly leaked a less than flattering video onto the internet. While this probably seems like an absolute fortune to the rest of us, 50 Cent has assets valued in the hundreds of millions, and a home that can be described as nothing less than a modern day mansion. His current home features the following amenities:
So what does this lawsuit, and his subsequent filing for bankruptcy, mean for the rapper? A lawyer representing the plaintiff in the lawsuit has stated that 50 Cent’s bankruptcy is nothing more than a strategic move to keep him from having to pay up after losing the lawsuit. And the case is far from over as jurors are still deliberating on whether or not to file charges for punitive damages against the rapper.
So does this lawsuit mean the end of the line for Fiddy? Well, aside from his vast estate, he also covets various successful business interests. These include his own line of headphones, energy drinks, clothing range, and a stake in his own movie business. Let's hope his insurance is also up to date, or else he would be even deeper in the rough.