50 Cent Files for Bankruptcy After Jury Directed Him to pay $5 Million

50 Cent Files for Bankruptcy After Jury Directed Him to pay $5 Million

Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday.


In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.

Though Jackson first became known for his career as a popular rapper, his business dealings are almost equally legendary. He made a reported $100 million when VitaminWater, in which Jackson was an investor, was sold to Coca Cola. Other moves were less successful: a clothing line has since shuttered, a headphones debacle resulted in a multi-million dollar lawsuit, and a vodka partnership failed to generate significant buzz on liquor shelves. 50 Cent is still trying to make waves in the audio world, as Fortune previously reported.

Earlier this month, Jackson was ordered to pay $5 million to a woman who said Jackson acquired an adult video she made with her boyfriend before posting it online without the woman’s permission.

The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday

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