Today is a tough day to be 50 Cent.
According to the Wall Street Journal, 50 Cent filed for bankruptcy this morning. According to the bankruptcy papers, the MC claimed "assets and debts each in the range of $10 million to $50 million."
This is a brand diminishing moment for one of the titans in hip-hop.
This comes as a surprise for many, as Forbes recently included the rapper on their list of the 5 richest men in hip-hop, valuing his worth around $155 million.
His recent financial woes have been caused by a couple poor investments in the past couple of years. 50’s boxing promotion, SMS Promotions, filed for bankruptcy in May. While bankruptcy doesn’t mean the end of a career, it is surely a shocking blow when you think of his net profit just a year ago.
Will this be the straw that breaks the back of this once profitable business mogul?