Cent files for bankruptcy protection days after lawsuit

50 Cent has, according to the Wall Street Journal, filed for Chapter 11 bankruptcy earlier today (July 13th).

United States rapper 50 Cent has filed for bankruptcy, claiming he has assets and debts of between $10m (£6.4m) and $50m (£32m).

Zeisler & Zeisler, a Bridgeport law firm, is representing 50 Cent in the bankruptcy.

With his personal wealth no longer in his repertoire, 50 Cent will now rap exclusively about blowjobs, which no court in this land can take away from you. The rapper listed assets of between $10-$50 million and debts of the same amount.

It previously reported that Leviston, the woman featured in the 13-minute video, sued the hip-hop star for violating her civil rights by posting the private sex tape on his website without her consent. According to court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., 50 Cent, born Curtis James Jackson III, is now guaranteed to be the victim of endless jokes based off of his name and proclivity to rap about his wealth.

Ms Leviston said she was horrified when the video went online.

She has a daughter with rapper Rick Ross who had a rivalry with 50 Cent. The two men traded insults in their lyrics and during interviews. At the time, the federal judge ruling in the Leviston case ordered that the trial would proceed, and reportedly threatened the former Shady/Aftermath/Interscope Records bread-winner with additional sanctions.

In May, Forbes estimated 50 Cent’s net worth at $155 million, largely from his business interests in clothing, beverages and music technology. The popular video’s release, charged specifically to 50 Cent, came more than five years ago, following a feud between he and Ross. The jury in the case could have Jackson on the hook for even more money as it contemplates further punitive damages.

Dr. Dre boosted his net worth to $650 million by selling Beats Electronics to Apple for $3 billion.