After being handed a ruling of paying the mother of rapper Rick Ross’ child $5 million, 50 Cent is declaring bankruptcy in a new personal bankruptcy case filed Monday (Jul 13).
Fifty was supposed to hand over a net worth statement plus his state and federal tax returns for the past five years on today so the jury could calculate punitive damages in addition to the initial $5 million award for Lastonia Leviston’s emotional distress.
But the initial Connecticut Chapter 11 bankruptcy filing says Fifty has $10 to $50 million in assets and $10 to $50 million in liabilities.
It puts his creditors at between 1 and 49.
The bankruptcy claim comes just days after The New York Times published a fawning profile of Fifty, calling him a “Renaissance Man” who favors Versace shirts and has “exceptional business instincts.”
Fifty tried to duck the sex tape trial in May by filing for bankruptcy on behalf of his boxing promotions company, but a federal judge ruled that the civil case had to go forward and threatened the rapper with sanctions.
My two-cents: 50 pay that woman.
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