Here's how 50 Cent says his entire ~$25 million fortune vanished
Getty Images/Dimitrios Kambouris
He filed a statement of his financials in Connecticut bankruptcy court on Monday, and Business Insider has obtained a copy of it.
Here's how Jackson says he's drained his millions in just a few years' time.
The money going out: $108,000 per month in expenses and millions of dollars in lawsuits
Jefferson Siegel/New York Daily News/POOL
And then, there's the electronics company Sleek Audio, which he owes an $18 million court-ordered payment after a partnership to produce headphones fell apart.
Those court orders total about $25 million, the amount 50 Cent claims in assets.
But, that's just the tip of the iceberg. The rapper claims another $7 million in liabilities.
50 Cent says he has about $108,000 in monthly expenses, which include his homes and personal expenses.
His lavish Connecticut house - the one with 21 bedrooms, 24 bathrooms, and a nightclub - costs about $72,000 a month to maintain, he says. He spends about $5,000 per month on just the gardening.
See his housing costs below:
PACER
He also pays a monthly $5,745 Bentley car lease and $12,000 in child support for two children. Additionally, he supports a grandparent in the amount of $2,500 a month.
50 Cent keeps himself looking good with about $3,000 a month on clothes and $1,000 a month on grooming.
See his personal expenses below:
PACER
What money is coming in? He has about $10 million in cash and investments
As far as his income, 50 Cent claimed he made $3.3 million from his music so far this year. He also made about $372,000 from SMS, his company that makes headphones, in 2015. Additionally, he has made $771,000 from numerous films, touring, merchandising, and other pursuits with G-Unit, 50 Cent's record label.
The rapper has $10 million in cash and $500,000 in cars, including three Chevy Suburbans and a 2010 Rolls Royce.
There is no mention of the income he made from film and TV work. Previously, 50 Cent stated that he made $100,000 each on "Southpaw" and "Spy," according to the court transcript acquired by BI. As for Starz drama "Power," which the rapper acts in and executive produces, 50 Cent testified that he has made $150,000.
Here's a snapchat of his income, from the filing:
Business Insider
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