From Variety:
50 Cent Files for Bankruptcy
Rapper 50 Cent, whose real name is Curtis James Jackson III, has filed for bankruptcy.
The musician listed assets and debts each in the range of $10 million to $50 million in court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., on Monday.
“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs,” 50 Cent’s attorney, William A. Brewer III, partner at Brewer, Attorneys & Counselors, said in a statement to Variety.
I wish the guy no ill will but still - you would think that when you are making so much cash, you would hire some people to manage it for you. Or at the very least, your buddies would say something.
There comes a point where there will not always be another $10 million/year coming in and you need to prepare for that time.
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