50 Cent filed for chapter 11 bankruptcy protection earlier today.
This news comes after 50 Cent was facing the prospect of stumping up $5m in punitive damages for leaking a sex tape of Rick Ross‘ ex-girlfriend Lastonia Leviston, a case which she filed for in 2010.
On the face of it, it would seem that the G-Unit rapper is now penniless and broke. However, that is not the case as explained by the president of Mainline Partners Robert Gregg in an interview with Complex.
In the five page petition filed by Fiddy, it states that his assets are worth between $10m and $50m.