50 Cent appears in New Haven federal court - WFSB 3 Connecticut

50 Cent appears in New Haven federal court

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50 Cent (WFSB) 50 Cent (WFSB)
NEW HAVEN, CT (WFSB) -

He made millions through rapping, acting and business deals, but 50 Cent said he doesn’t have a lot of money left to his name.

The Connecticut resident filed for bankruptcy last month and on Wednesday he faced a number of creditors who he owes money to.

The rapper, whose real name is Curtis Jackson, answered questions for a few hours on Wednesday.

When he filed for bankruptcy, Jackson reported assets and debts in the range of $10 million to $50 million.

He filed for bankruptcy after a New York City jury ordered him to pay $5 million to a woman who sued him over a sex tape.

While he rose to fame with his 2003 break-through album “Get Rich or Die Tryin,” he was questioned on his income and cars, valued at about $500,000, and his three homes.

He and his attorneys said he is looking at renting out his Farmington mansion, hoping to bring in $70,000 to $100,000, and then possibly putting it on the market.

According to bankruptcy court filings, Jackson’s monthly income is $185,000, mainly from royalties and interests on his investments.

His expenses run about $108,000 per month, with $72,000 just to maintain his mansion in Connecticut, including $5,000 for gardening and landscaping.

The Department of Justice Attorney, representing the trustee, asked about his role as an early investor in Vitamin Water, his expanded movie and television roles, along with possible future earnings like promoting a vodka brand and underwear line, and also a new album he is working on.

A meeting will be continued at a later date.

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