Rapper and entrepreneur 50 Cent (real name Curtis Jackson III) filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court on Monday, just days after a New York jury ordered the rapper to pay $5 million in a separate lawsuit concerning a 2009 sex tape.
The woman in the tape, Lastonia Leviston, claimed 50 Cent bought the tape, added his own hurtful commentary and then uploaded it onto his personal website in 2009. Her lawyers say the resulting fallout almost pushed Lastonia to commit suicide, and the 36-year-old is suing Curtis for violating her civil rights and inflicting emotional harm.
However, the rapper’s bankruptcy filing made no mention of the sex tape lawsuit.
“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganisation of his financial affairs,” Curtis’ attorney said in a statement.
According to People, Curtis reported estimated assets of $10 – $50 million in court documents, the same amount as his estimated liabilities.
In May, Forbes estimated the rapper’s net worth to be $155 million (US). He was an investor in the company behind Glaceau Vitaminwater (which sold to Coca-Cola for $4.1 billion in 2007) and also appeared in several film and TV roles, including the upcoming Southpaw starring Jake Gyllenhaal.
