Once Again, 50 Cent Files For Chapter 11 Bankruptcy

For the second time this year, Curtis “50 Cent” Jackson has filed for Chapter 11 bankruptcy.  The Wall Street Journal is reporting that Jackson has  filed papers in the U.S. Bankruptcy Court in Hartford, Conn.  He claims to have reported assets and debts each in the range of $10 million to $50 million.  The timing of the filing is a little suspicious considering it comes on the heels of a court decision awarding Rick Ross’s baby mother with $5 million for an unauthorized sex tape release by 50 Cent.

Earlier this year, 50 filed for Chapter 11 bankruptcy protection for his SMS Promotions company, the boxing promotions company he launched shortly after severing his relationship with Floyd Mayweather.  The company filed for Chapter 11 on May 25th claiming SMS had between $100k and $500k in debts, TMZ Sports reported.
No word yet on how all these filings will help or hurt 50 in the long run.  Chances are he will still have to fork over the $5 million owed.  50 may be claiming financial woes, but he currently has a hit on his hands with the Starz show, Power, which he executive produces.  He also has been promoting his G-Unit comeback, released a new single featuring Jeremih and T.I., and has a new vodka he’s promoting called, Effen Vodka.

So I wouldn’t read too deeply into his filings.  Just 50 being 50.