The rapper known as 50 Cent filed for bankruptcy after spending $72,000 (£45,000) a month on upkeep of his mansion, including $5,000 on gardening.
Curtis James Jackson III became one of world's best-selling music
artists after his album Get Rich or Die Tryin' came out in 2003.
He had previously been a teenage drug dealer, and had been hit nine times in a shooting in 2000.
Having achieved his dream of becoming rich, Mr Jackson proceeded to
spend his money lavishly, according to documents submitted to a
bankruptcy court in Connecticut.
The rapper was once valued at $155 million by Forbes magazine.
But the documents listed his assets at $24 million, and his debts at $32 million.
They showed he owned seven cars worth $500,000, including a 2010 Rolls Royce Phantom Drophea.
The documents show Mr Jackson's estimated assets and liabilities (Splash News) |
His most valuable asset was the mansion near Hartford, Connecticut,
valued at $8.25 million. It has 37 bathrooms and five whirlpool baths.
The filings also show losses of more than $10 million in 2013 and 2014,
with expenses outstripping income and losses posted in 50 Cent's
records, adult film and G-Unit Brands businesses.
He had a
$17,400 monthly mortgage payment and also spent $9,000 on security,
$3,000 on clothes, $1,000 on "personal grooming" and $14,000 on child
support.
He also owed thousands of dollars in wages to his stylist, barber, and fitness coach.
Mr Jackson initially filed for bankruptcy last month after a judge in
New York ordered him to pay $7 million to Lastonia Leviston.
Miss Leviston accused the rapper of posting a sex tape of her on the internet.
Source: +TheTelegraph
No comments:
Post a Comment
Thanks for visiting DTB today, Your opinion counts, Please drop your comments, opinion and advise in the comment section. Thanks again and don't forget to bookmark us.