On Monday, Curtis Jackson, better known as rapper 50 Cent, filed for Chapter 11 bankruptcy protection following a messy lawsuit in which he was forced to pay his rival Rick Ross’ ex-girlfriend $5 million.
The news came as a shock, especially considering the rapper was just ranked No. 4 on Forbes’ May list of the wealthiest hip-hop artists thanks to his reported $155 million net worth. His massive 2007 deal with Vitamin Water alone awarded him between $60 million and $100 million.
Inside the fabulous life of 50 Cent. Money (Music Video) | 50 Cent Music
50’s lawyers have said the filing is simply to “reorganize his financial affairs as he addresses various professional liabilities,” but in the meantime, we only want to live in a world in which 5o Cent is synonymous with his hit 2003 album, “Get Rich or Die Tryin’.”
AdvertisementCurtis James Jackson III was born July 6, 1975, in Queens, New York, where he grew up dealing drugs. In 2000, he was struck by nine bullets during a shooting in his neighborhood.
Evan Agostini/Getty ImagesAdvertisementAfter he released the compilation album “Guess Who’s Back?” in 2002, the young rapper was discovered by Eminem and signed by Shady Records, Aftermath Entertainment, and Interscope Records as part of a $1 million deal.
Rappers Eminem, 50 Cent, and Dr. Dre. AP Photo/Ramin Talaie
AdvertisementWith the help of Eminem and Dr. Dre — who produced his first label album in 2003, “Get Rich or Die Tryin'” — 50 Cent became one of the world’s most successful rappers, selling more than 30 million albums worldwide.
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In 2003 he founded G-Unit Records, signing his G-Unit associates Young Buck, Lloyd Banks, and Tony Yayo.
50 Cent with G-Unit members Young Buck, Lloyd Banks, Tony Yayo, and Kidd Kidd. Brian Ach/Invision/APAdvertisementWith his newfound success also came product-endorsement deals and a G-Unit clothing company. In 2003 he signed a five-year deal with Reebok to distribute a G-Unit Sneakers line.
Lawrence Lucier/Getty ImagesWith beautiful women on his arm, the rapper started to care more about his appearance.
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AdvertisementAnd his accessories.
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He loves bling
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AdvertisementHe started sitting front row at fashion shows.Peter Kramer/Getty Images
50 Cent also got into cars, here with his branded vehicle at the Days of Thunder motorsport event.
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AdvertisementToday his Instagram is filled with luxurious images of clothes and cars that he is constantly posting to his 5.4 million followers.
instagram.com/50cent
50 Cent’s Instagram account
He has an impressive collection of both.instagram.com/50centAdvertisementAnd flies privately.
instagram.com/50centAdvertisementIn 2004, 50 Cent was given a minority share in Vitamin Water in exchange for being the face of the beverage. In 2007, the Coca-Cola Company acquired Vitamin Water from Glacéau for $4.1 billion. The rapper reportedly received between $60 million and $100 million.
Vitamin Water
Source: The Washington Post
Advertisement50 has also been the face of Right Guard body spray, Magic Stick condoms, a G-Unit clothing line for Ecko, and “Bulletproof” video games. Pontiac sponsored his 2007 tour of New York City’s five boroughs to promote his album “Curtis,” and he helped design a G8 sedan.
AP Photo/Mary AltafferAdvertisementAnd he has a vodka line he constantly promotes on social media.
AdvertisementHe wrote books such as 2007’s “50 X 50: 50 Cent in His Own Words.”
Steven Henry/Getty ImagesAnd 2011’s “Playground.”
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Source: Amazon
AdvertisementIn 2012 he became a licensed boxing promoter for his new company, The Money Team. He and his friend Floyd Mayweather Jr. signed boxers including IBF featherweight champion Billy Dib.
50 Cent with Floyd Mayweather Jr. belts at the MGM Grand Garden Arena in 2007. Al Bello/Getty Images
In 2014, an endorsement deal with Sleek headphones went bad after 50 Cent allegedly produced a rival line of headphones. A judge ordered the rapper to pay the company more than $16 million.
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More on the lawsuit here.
AdvertisementBut he still has plenty of money from concerts, merchandise, and sales of more than 30 million album sales.
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He’s had 26 different roles on various TV shows and movies, including “Real Steel,” “Get Rich or Die Trying,” and the upcoming “Southpaw” alongside Jake Gyllenhaal.
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50 Cent’s full filmography.
AdvertisementHe is starring on the hit new Starz drama “Power.”
Dimitrios Kambouris/Getty ImagesAnd has always been very involved with charity, even launching his own philanthropic initiative to provide food for 1 billion starving people in Africa.
Rick Diamond/Getty ImagesAdvertisement50 Cent was ranked No. 4 on Forbes’ May list of the wealthiest hip-hop artists thanks to his reported $155 million net worth.
Forbes.comThat same month, he was spotted looking dapper at the Veuve Clicquot Polo Classic at Liberty State Park.
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AdvertisementBut just days after he was ordered to pay $5 million to his rival Rick Ross’ ex-girlfriend for posting a 𝑠e𝑥 tape online without her knowledge, the rapper filed for Chapter 11 bankruptcy protection.
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More on the lawsuit here.
The bankruptcy claim comes just days after The New York Times published a glowing profile of the rapper, praising his “exceptional business instincts.”
Gary Gershoff/Getty ImagesAdvertisementAccording to his Instagram, 50 seems to still be living just fine.
He’s never been shy to flaunt his wealth on social media.instagram.com/50centAdvertisementNow check out…