Image via @50cent on Instagram
Last month was not an easy one for 50 Cent. Between being sued over the beat for “P.I.M.P.,” getting kicked off the stage in Atlanta, and getting arrested in the Caribbean for using profanity, 50 was due for some good news.
Lucky for him, his most recent visit to court resulted in the judge ruling in 50 Cent’s favor, signing off on a deal (which 50 first presented back in April) that officially ends his bankruptcy case. There were, of course, stipulations. According to TMZ, the rapper must pay $23 million to his creditors over the next five years—$17 million to Sleek Audio, and $6 million to Lastonia Leviston.
50 Cent’s attorney told TMZ: “Mr. Jackson is pleased that the Bankruptcy Court approved his plan of reorganization today, less than one year after filing for chapter 11 to reorganize his financial affairs […] Mr. Jackson appreciates the fresh start this process provides.”
Just over a year ago, 50 Cent filed for chapter 11 bankruptcy protection at the US Bankruptcy Court in Hartford, Connecticut. In March, he raised suspicion in bankruptcy court when he shared a series of photos on Instagram that flaunted his cash. He asserted later on that the money was fake.
While handling his case in bankruptcy court, 50 Cent has also been working with A&E to develop, executive produce, and host a variety show called 50 Cent Presents. The show is still in the early stages of development.
Congratulations, 50 Cent!
?oh now I remember where I put that Money. LMAO #EFFENVODKA #FRIGO