Rapper 50 Cent Files for Bankruptcy as Finances Hit the Rocks

Rapper 50 Cent is scraping together the last of his spare change. The 'Get Rich or Die Tryin' singer filed for bankruptcy on Monday, a week after his 40th birthday. 50 Cent, real name Curtis Jackson III, reported assets and liabilities between $50 and $100 million in the papers filed at the bankruptcy court in Connecticut. 50's fall from the heights of hip hop royalty has been sudden. Forbes pegged his net worth at $155 million just this year and the star made an estimated $100 million as a stake holder after Vitamin Water was sold to Coca Cola (KO) back in 2007. The rapper had less success with his clothing line and boxing promotions company SMS Productions, which recently went under. To add to his hefty losses after being sued by a headphones company, this week the rap mogul lost a further $5 million lawsuit to a woman whose sex tape he allegedly leaked online. Apparently it's still business as normal for 50 Cent according to an official statement, as he continues to work on his 6th album and reorganize his finances.