+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Here's how 50 Cent says his entire ~$25 million fortune vanished

Aug 4, 2015, 22:27 IST

Advertisement
Curtis Getty Images/Dimitrios Kambouris

Rapper Curtis Jackson, aka "50 Cent," claims that his assets are worth about $25 million, but that two separate court-ordered payments plus other high expenses have pushed him into bankruptcy.

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

Advertisement

Jefferson Siegel/New York Daily News/POOL

Apparently, 50 Cent was primarily forced into filing for bankruptcy after two court judgments put him over the top. There's the $7 million owed to Lastonia Leviston, the woman had won the payment in court after the rapper allegedly released a sex tape of her to embarrass the rapper's nemesis, Rick Ross, who had fathered one of her children. 

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.

The house with the address that Curtis Jackson listed on his bankruptcy filing.Google Street View

Advertisement

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.

Advertisement

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.

Advertisement

Business Insider

NOW WATCH: 50 Cent testifies his lifestyle is an illusion

Please enable Javascript to watch this video
Next Article