This Breakdown of 50 Cent's Bankruptcy is Staggering
By Jason McIntyre
50 Cent, the rapper who threw one of the most hideous first pitches of all-time, recently filed for bankruptcy. This week in court, his lawyers filed 56 pages of financial information according to the Wall Street Journal. The breakdown of 50 Cent’s financial troubles is mind-blowing.
Yes, he’s got $24.8 million in assets, but he’s also saddled with $32.5 million in debt. I don’t know whether to laugh or cry when it comes to this:
"MONTHLY EXPENSES $108,000 Mr. Jackson said he pays $3,000 a month for meals and entertainment, $3,000 on wardrobe, $2,000 on travel and $1,000 on personal grooming. His biggest monthly expense is his $17,400 mortgage, and he also spends $9,000 on “security and protection.”"
When you’ve been shot (or shot at) as many times as 50 Cent has, $9k monthly in protection isn’t something you can give up. I’d love to see the reaction from ballers around the country to 50 Cent’s $4k a month in wardrobe and “grooming.”
"HIS RIDES $500,618 This is the value of Mr. Jackson’s 1966 Chevrolet Coupe, 2015 Chevrolet Suburban, 2010 Rolls Royce Phantom Drophea, 2005 Chevrolet Suburban, 2008 Dodge Sprinter, 2003 Chevrolet Suburban and 2012 Suzuki Kizashi Sport, according to on insurance estimates. Court papers also refer to a leased 2012 Bentley Mulsanne."
Seven cars? Seems a bit much.
If you’re curious about the woman he pays $855k in child support to, her name is Daphne Narvaez.
Oh, right, back to 50 Cent. Time to stop tweeting about how much money you have and, you know, start taking care of that cheddar.
What are the odds he has this as his phone ringtone?