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50 Cent Files For Bankruptcy—But Is He Really Broke?

Credit: (Photo credit: DPA /LANDOV)

The Get Rich or Die Tryin’ actor’s comedic jabs at fellow entertainers has finally gone too far, and this time 50 Cent is going to have to pay the piper.

Back in 2010, Lavonia Leviston, who shares a child with rapper Rick Ross, filed suit against Fiddy, for purposely leaking a sex tape she made with a former boyfriend in 2009. The formula 50 Vitamin Water king posted the video to his website after doctoring the 13-minute clip to include himself as fictional wig wearing commentator Pimpin’ Curly, while narrating the sexual acts being performed on the tape— even throwing barbs at Rick Ross (who was not in the video)— during his commentary. Lavonia claimed to be traumatized and burdened by suicidal thoughts after its online release.

WATCH: 50 Cent Throws Horrible First Pitch At NY Mets Game

But after a long 5-year legal battle, on July 10, Curtis James Jackson III (i.e. 50 Cent) was ordered by a jury to pay Lavonia $5 million, prompting the notably boastful rapper to file for Chapter 11 bankruptcy protection on July 13. The decision to file is just a tactic to get his financial ducks in a row, according to a TMZ source, who says 50 is not really broke. And as any witness who may have seen the flashy mogul hosting a party last week in Atlantic City can attest, his funds are definitely not low— thick wads of $100 bills were poking out of his front pockets, and he looked far from destitute.

(Photo credit: Tom Briglia/FilmMagic)

(Photo credit: Tom Briglia/FilmMagic)

At one time, the “In Da Club” rapper’s net worth was upwards of $150 million, and just last week the New York Times published a glowing review of the rapper’s monetary prowess, rattling off an extensive list of his financial accolades:

“It is well known that Mr. Jackson, 40, has exceptional business instincts. A former crack cocaine dealer who has been shot nine times, he has sold more than 22 million albums, and a new one, ‘Street King Immortal,’ arrives in the fall. He is the chief executive of G-Unit Records. He founded a headphones company, SMS Audio. And he owns part of a vodka brand and Frigo, a line of luxury men’s underwear. He also has a cologne, a sneaker brand and a video game series.”

With this alleged recent business move to cry broke in order to avoid paying for one of his pranks gone wrong, 50 Cent may just be crafty enough to hold on to most of those coins he’s stacked.

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