50 Cent Files for Bankruptcy After Losing Court Case for Leaking Sex Tape
Rapper, 50 Cent filed for bankruptcy – because that’s what multi-millionaires, who live in mansions do.
Coincidentally, the rapper was ordered to pay $5 million to Lavonia Leviston for leaking her sex tape just three days ago. 50 Cent posted the explicit footage on his website in 2010 as part of his ongoing feud with Rick Ross, who happens to be the father of Leviston’s child.
Leviston sued 50 Cent for emotional distress and invasion of privacy. She claimed she suffered from depression and became suicidal after her sex tape was viewed by millions of people. On Friday, Leviston won the case and was granted $2.5 million for each of her two complaints. Leviston could be awarded more money, since punitive damages have yet to be awarded.
50 Cent filed for bankruptcy on Monday, July 12, 2015. He claimed his worth is between $10 million – $50 million, the same amount as his debts. Besides the $5 million he owes Leviston, 50 Cent is also in the middle of another lawsuit over headphones he designed that infringed upon a copyright. That deal was set at $17.2 million.
It was only five years ago that 50 Cent was reportedly worth half a billion dollars after Vitamin Water hit it big. 50 Cent agreed to be Vitamin Water’s first celebrity endorser in exchange for a $5 million fee and a 5% equity stake in the company. When Vitamin Water was sold to Coca Cola for $4.1 billion in cash, 50 Cent earned roughly $100 million after taxes. Not bad for a boy from Queens who was almost shot and killed while sitting in a parked car.
What do you think about 50 Cent filing for bankruptcy? Where on earth did the $100 million go that he earned from Vitamin Water?