Today, according to The Wall Street Journal, rapper and G-Unit leader 50 Cent has filed for bankruptcy. We guess you could say 50 Cent is now worth less than his own namesake implies, which is half of a dollar.
The filing comes days after a jury ruled that he must pay $5m to a woman suing over a sex tape case.
50 Cent’s 2003 album Get Rich or Die Tryin’ catapulted him to global fame.
Real name Curtis James Jackson III, the Grammy-award winning rapper’s business interests have included clothes, boxing, drinks, and mining.
His stake in VitaminWater reportedly netted him tens of millions of dollars when Coca-Cola bought the drinks brand in 2007.
The court case stemmed from a video in which the rapper is accused of adding a commentary to a tape that the woman made with her boyfriend. The tape was then leaked online.
In addition to the $5m penalty, the jury was due this week to consider punitive damages in the invasion-of-privacy lawsuit. However, it was unclear if this would go ahead.
Manhattan Supreme Court Justice Paul Wooten had requested that 50 Cent disclose details of his finances.
So, because of his rap name, him filing for bankruptcy, which is defined by “the state of being bakrupt,” means that he has lost all of his assets and is worth less than or exactly 50 cents. Given hip-hop music’s penchant for showing wealth, this is not a lot of money for a rapper to have, in our opinion.
Since his rap name is “50 Cent,” it is now ironic that he filed for bankruptcy, meaning he has no money left. The word “irony” is defined in the dictionary as “a state of affairs or an event that seems deliberately contrary to what one expects and is often amusing as a result.”
Leave a Reply