According to bankruptcy documents, 50 Cent's largest debt is to Florida headphone maker Sleek Audio, who won a $18.428.257 judgement against 50 for stealing theis headphone design,some of their valuable data and trade secrets.
His second biggest creditor is Rick Ross’s baby mama Lavonia Leviston, who just snagged a $5.000.000 judgement against 50 Cent for leaking her sex tape.
Other debts include $568.304 to Reed Smith, his lawyers…
50 Cent had deal with Sleek Audio Co. for distribution their headphones. The G-Unit helmsman who invested $1 million in Sleek, was to start a line of headpones with the company. But 50 Cent founded his headphone SMS Audio co. and his new product want against 'beats by Dre' and also 'Sleek'. Sleek claimed 50 stole its design,some of their valuable data and trade secrets. and then tried marketing it on his own. Sleek50 Cent was ordered to pay $17 million to Sleek. but after 50 chose not to pay a $17 million, his bank account was frozen.
50 Cent also lost $5 million lawsuite against Rick Ross baby mama.
According to reports, 50 claims his assets are worth between $10-50 million, but his liabilities are about the same.
In 2010 co-founder of G-Unit Sha Money XL, left G-Unit. Because after Mobb Deep's G-Unit album 'Blood Money' flopped. 50 Cent didn't invited him as co-executive producer of his third album 'Curtis' or as engineer of 'Curtis', or as beat-maker of 'Curtis'. In 2009 when Jimmy Iovin' dropped G-Unit Records, Inc. from Interscope Records. Sha Money XL understood, that it's time for find new 'home'. He signed Def Jam Records as executive directore. He wanted publish Lloyd Banks' third album H.F.M.2 under Def Jam. But 50 Cent didn't do deal with Def Jam. He signed G-Unit under EMI umbrella.
In may 25 of this year(2015) internet broke news about 50 Cent's SMS promotion boxing company was in large debt. In April 28 of this year(2015) Forbs established net worth of 5 richest rapper in hip-hop. 50 Cent took fourth position with $155 million. But it seems 50 has lack of financial intiligance, beacuse according of 'Wall Street Journal' now 50 Cent is bankrupt. In 2014 it was official report, that 50 lost $16 million, in SMS Audio company and his investment didn't bring him money back. 50 Cent's fifth album Animal Ambition had very poor sales, according to wikipedia, A.A. sold 124 000 in end of 2014. Animal Ambition come out in june 3, 2014.
In 2009 50 Cent wrote great book: 50th Law.It is informal education about business and life. But it seems 50 don't use priciples, which he describe in his business book in real life. Good luck 50, I hope your business empire come back soon.
Today is 6th July, That's mean it's 50 Cent birthday. 50 Cent's zodiac sign is cancer. Cancers have high level of emotional inteligance and are business geniuses.
Happy birth day 50 Cent, I wish your long time waited album 'Street King Immortal' come out soon. Wish you wins, much more money and be still hard working man. salute to G-Unit, SMS and Effen. Go hard as you can. shout out to your good old music.