Curtis James Jackson III (born July 6, 1975), better known as 50 Cent, is an American rapper, actor, television producer, and businessman. Jackson, who was born in Queens’ South Jamaica neighborhood, began his musical career in 1996.
He recorded his “debut” album Power of the Dollar for Columbia Records in early 2000, but he was hit by nine bullets during a shooting in May of that year, leading the album’s release to be canceled and Jackson to be released from the label. Eminem discovered Jackson and signed him to his label Shady Records, an imprint of Dr. Dre’s Aftermath Entertainment and Interscope Records, after he released the mixtape Guess Who’s Back? in 2002
How did 50 Cent lose his riches and declare bankruptcy?
The terrible life 50 Cent led in his early years nearly cost him his life when he was already famous. He notably escaped an assassination attempt in which he was shot several times in the body. That was more than enough to establish a persona around him that gave the general public the impression of a thug. Curtis Jackson III has earned around $500 million during his career, although he ran into serious financial difficulties in 2015. This was the period when 50 Cent practically vanished from the map.
50 Cent reportedly filed for Chapter 11 personal bankruptcy protection on July 13, 2015. This occurred in the United States Bankruptcy Court in Hartford, Connecticut, because he is a resident of that city. During that period, 50 claimed to have debts equal to the worth of all his possessions and lived in Mike Tyson’s old mansion. He needed to do this to pay for a lawsuit filed by Lavonia Leviston, who accused him of purposefully publishing a sex tape in which she appeared.
After that, Jackson healed and continued to make money through a variety of endeavors. His most significant business move was negotiating a minority ownership in Vitamin Water. He would be worth hundreds of millions of dollars if he hadn’t declared bankruptcy. However, 50 Cent is currently worth $40 million.
Source: www.ghgossip.com
