50 Cent Wants the Terms of His Vitamin Water Deal Sealed From the Public

50 Cent is trying to keep the terms of his Vitamin Water deal sealed from the public in bankruptcy proceedings. The Jasmine Brand reports the latest update in 50 Cent’s ongoing bankruptcy proceedings. In 2004, Glacéau offered 50 a minority stake in VitaminWater. With the Get Rich or Die Tryin' MC's backing, Vitamin Water's popularity skyrocketed with younger consumers and in 2007, Coca-Cola purchased Glacéau for $4.1 billion. 50 Cent, whose real name is Curtis Jackson, reportedly got $100 million because of his stake in Vitamin Water, making him one of the richest rappers in hip-hop. Forbes reports that there was an additional deal between Coke and 50 for the continued use of his likeness in ads. That deal ends in 2009 and includes a clause prohibiting any release of 50′s earnings. The G-Unit boss is reportedly worried that if Coke’s endorsement paycheck were made public, “it would ruin future deals giving the company the upper hand in negotiations.”

After a plethora of lawsuits and legal battles (Rick Ross’ baby mother, Sleek Audio), 50 Cent filed for Chapter 11 bankruptcy in Connecticut in July just months after Forbes estimated the rapper’s worth at $155 million. 50 and his legal counsel released a statement following filing for Chapter 11, which said, "The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests." The official bankruptcy documents from the proceedings were released to the public in August. The court documents confirm that 50 owns right around $10 million in real estate–including his Connecticut mansion that requires $6,500 worth of lawn care a month–multiple cars that are worth $500,000 and spends $9,000 in security, $12,100 in child support, $3,000 on meals and entertainment, $1,000 on personal grooming and $2,000 on travel a month. The documents also show that Curtis Jackson has $10 million in various bank accounts.The rapper has said in court that he owes over $32 million and that his gross income is right around $77,000 per year after expenses. The full court reports can be read here.