Rapper 50 Cent pays $22m to end bankruptcy

0
263
Curtis '50 Cent' Jackson attends the premiere of "Southpaw" in New York July 20, 2015. REUTERS/Andrew Kelly - RTX1L4RJ

US Rapper 50 Cent has just received an early discharge from bankruptcy by a US federal judge after paying more than $22m.

In July, the judge had approved a plan that called for the rapper, whose real name is Curtis James Jackson III, to pay back about $23m over five years.

Lawyers said he paid off the sum early with $8.7m from his own pocket and another $13.65m he received from a recent settlement of a legal malpractice case he filed against other lawyers.

This comes only 19 months after the singer filed for bankruptcy protection due to debts of $36m and assets of less than $20m – three days after he was ordered by a court to pay $5m to a woman whose sex-tape he leaked online.

The East-coast rapper burst onto the Hip-Hop scene in 2003 with his debut album Get Rich or Die Tryin, and has sold over 30 million albums worldwide.

He has won many music awards, including a 2010 Grammy for the song crack a bottle, and has a sprawling music empire branching out into acting, starring in movies including his own semi-autobiographical Get Rich Or Die Tryin’, and even has his own TV show.

Curtis ’50 Cent’ Jackson attends the premiere of “Southpaw” in New York July 20, 2015. REUTERS/Andrew Kelly – RTX1L4RJ

LEAVE A REPLY

Please enter your comment!
Please enter your name here