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"In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million," reports the Wall Street Journal.
The filing comes just three days after the "Get Rich or Die Tryin'" rapper was ordered to pay $5 million to his rival Rick Ross's baby mama, Lastonia Leviston, who sued him for posting a sex tape online to millions of viewers in an attempt to embarrass Ross.
"On top of that," notes TMZ, "50 lost a court case in which a jury socked him with a $17.2 million judgment over ripping off a headphones design [in 2014]. It's a breathtaking fall."
In May, Forbes estimated 50's net worth at $155 million.
Vitamin Water
According to the Washington Post at the time, "50 Cent was thought to have walked away with a figure somewhere between $60 million and $100 million, putting his net worth at nearly a half billion dollars."
While the rapper no longer has an equity stake in the company, he continued to act as a spokesperson for Vitamin Water.
Additionally, the rapper's studio albums alone have sold over 21 million units, and he has starred in a long list of film and TV projects.
The bankruptcy claim comes just days after The New York Times published a glowing profile of the rapper, praising his "exceptional business instincts."
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