Rap Star 50 Cent Files for Bankruptcy

(Radio.com) 50 Cent's representation has shared a statement, via Billboard, following the rapper's declaration of Chapter 11 bankruptcy on Monday. Though 50 Cent has talked about losing millions before in the stock market, back in 2008, he was just valued at $155 million by Forbes in May.

The rapper's camp said, "Attorneys for Curtis Jackson, a/k/a 50 Cent, today announced that their client has filed for relief under chapter 11 of the Bankruptcy Code.

"The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests.

"Mr. Jackson's business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case." Read more here.

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