Following a rough 1.5 years living under the scrutiny of a Connecticut chapter 11 bankruptcy judge, Curtis Jackson III (a.k.a. "50 Cent") has finally emerged from bankruptcy after repaying $22 million to creditors. After reaching a settlement with creditors last summer to repay his debts over the course of 5 years, 50 Cent used $8.7 million of his own cash plus another $13.7 million from a malpractice settlement with his former lawyers to repay his creditors about 4 years ahead of schedule.
Of course, upon filing back in 2015 one of 50 Cent's largest creditors was Lastonia Leviston who won a $5 million lawsuit against the rapper after he acquired a copy of a sex tape she made with a boyfriend and proceeded to post it publicly online as part of a "beef" with Rick Ross who shared a child with Leviston...all of which is very rarely a good idea. In addition, he was about $140,000 behind on his Bentley lease payments and owed $65,000 to American Express.
But, perhaps even more ridiculous than his sex tape debt, was his declaration of $108,000 worth of monthly expenses. His house alone, the infamous Connecticut mega-mansion that ironically also drove Mike Tyson into bankruptcy, cost him $67,000 per month including $5,000 of monthly gardening expenses, $1,500 for pool maintenance, $9,000 for security and $14,200 for utilities.
Of course, filing for bankruptcy protection didn't stop 50 from "stuntin' on the reg"...unfortunately, one stunt drew some concerns with his bankruptcy judge, Ann Nevins, after he posted a couple of ill-advised pictures on Instragram of himself posing with $100,000s of dollars worth of cash. Apparently Chapter 7 trustees frown upon omitting "buckets of cash" from your official bankruptcy disclosures and then subsequently posing with that cash on social media. But, after being ordered to appear in court to explain the pictures, an embarrassed 50 Cent was forced to admit that the cash was fake.
Over/under on the chapter 22 filing?