50 Cent’s Financial Woes Continue
50 Cent was in a Connecticut bankruptcy court earlier this week and laid out all of his expenses and new court documents show that the rapper's G-Unit Records and G-Unit Brands have been losing money over the past three years. According to TMZ, G-Unit Records and G-Unit Brands have suffered $10.45 million in losses in the last 36 months.
The G-Unit front man's losses are making his monthly expenses harder to cover. According to Billboard, the rapper spends $108,000 a month on expenses such as gardening ($5,000), pool maintenance ($1,500), security ($9,000) and general maintenance of his Hartford, CT mansion ($72,000). The court documents also state that Fif is paying child support to Daphne Young for their son, Sire, and by the time the child turns 18, the rapper will have paid out $832,600 in support.
50 currently owns $15 million in personal property--not including his houses--and has $2.7 million in his checking account. The Get Rich Or Die Tryin' artist reportedly makes $185,000 a month from royalties and interest on previous business investments.
In mid-July, Fif shockingly filed for bankruptcy in the state of Connecticut just months after Forbes estimated the rapper's worth at $155 million. According to documents obtained by The Wrap a few days after the bankruptcy news broke, the rapper born Curtis Jackson owes $28.5 million to creditors including his grandfather, Rick Ross' baby mother and Sleek Audio. He owes the majority of the money ($18,428,257 to be exact) to Sleek Audio, an audio company that claimed the rapper stole their product design and confidential private client information for SMS Audio.