Bankruptcy or Legal Strategy? 50 Cent’s Net Worth
What is the net worth of one of this generation’s most well-known and listened to hip-hop artists? Let’s just say it’s surprisingly low and it has a lot to do with millions of dollars in debt and a million-dollar lawsuit. Check out 50 Cent’s net worth.
On July 13, 50 Cent filed for bankruptcy days after losing a $5 million lawsuit to Lavonia Leviston after she claimed he intentionally released a sex tape between the two in order to embarrass her ex, fellow hip-hop all-star Rick Ross.
According to TMZ, 50’s bankruptcy filing documents estimated his net worth and assets to be between $10 million and $50 million but that his outstanding debts total to be about the same.
This wasn’t 50’s first million-dollar lawsuit against him that he lost. In late 2014, the law ordered 50 to pay $17.2 million to Sleek Audio after it sued him for ripping off its headphone design and trying to sell it as his own. TMZ reported that 50 had his assets frozen after he didn’t pay up, but his lawyer told them his assets were “appropriately protected” and that the rapper was appealing the judgement.
Seems like that didn’t work out in his favor, because just a couple months ago Forbes estimated 50 Cent’s net worth to be at about $155 million.
And in March, 50 reportedly made a $1.6 million bet on Floyd Mayweather for the anticipated Mayweather vs. Pacquiao fight.
That certainly doesn’t seem like a move made by someone teetering on the edge of bankruptcy, but perhaps impulsive decisions are the reason behind his downfall.
Maybe 50 Cent’s luck has run out. When 50 became a major celebrity endorser for Vitamin Water, at the time a fledgling product, he earned more through that deal ($5 million and a 5% equity stake in the company) than he had selling records. After taxes, 50 reportedly took home $100 million from the deal to boost his net worth beyond his mentor Eminem‘s.
50 Cent lived his life accordingly to being super rich. He owns two $200,000 bulletproof cars built for the original purpose of the Iraq War. These, of course, being in addition to a $300,000 Lamborghini.
He previously owned Mike Tyson‘s former 52-room mansion in Connecticut. He reportedly tried to sell it at $10,000,000, thought whether he did or not is not confirmed.
Makes sense, as local brokers told People magazine in 2007 that the house could be considered a small hotel were it not for zoning laws. 50 renovated the house in his time with it by equipping it with every sports luxury imaginable, a movie theater, and its very own night club called Club TKO.
All of this considered, it appears that 50 Cent’s bankruptcy filing might be more out of strategy in the wake of a pesky lawsuit as opposed to a desperate financial move. Only time will tell.
As of right now, 50 Cent’s net worth is documented to be between $10,0000,000 and $50,000,000.
