50 Cent Reveals He Spends Over $100,000 Monthly During Bankruptcy Appearance

Written By Cyrus Langhorne

50 Cent
1.7k Views 28 Comments

G-Unit head 50 Cent‘s bankruptcy situation is far from over as reports reveal he filed a claim in Connecticut of paying over $100,000 on monthly expenses.

According to reports, Fif appeared in a bankruptcy court Monday (August 3) and said his expenses total $108,000 every 30 days.

He has a monthly income of $185,000, mainly from royalties and interest on his investments. His Monday court filing says he also owes money to his stylist, his barber and his fitness coach. (AP)

Reports also claim Fif spends over $70,000 on maintaining his home.

Other monthly expenses for the Power actor include $72,000 a month for his 50 room mansion, including utilities, mortgage, property tax and insurance. Additionally, Jackson spends $9,000 for security, $5,000 for gardening, $1,000 for grooming and another $3,000 in wardrobe per month. (People)

Last month, a jury hit 50 Cent with a hard $2 million decision in a publicized sex tape case.

The jury announced the judgment in NYC on Friday. 50 already got hit with a $5 million judgment in the case earlier this month … which lead to him filing for personal bankruptcy. UPDATE: 50 Cent’s attorney has released a statement saying the rapper plans to fight the judgement hoping to “reduce the size of the award.” (TMZ)

During a court appearance in his sex tape trial last month, Fif denied living the lavish life he promoted on social media.

Taking the witness stand in Manhattan Supreme Court, the rapper said his claims about having a fleet of luxury cars on both coasts, loads of bling, and even making a $1.6 million bet on boxer Floyd Mayweather are all bogus. “It’s entertainment,” he said of the lifestyle he portrays in his videos and on social media. (New York Daily News)

28 Comments

Written by Cyrus Langhorne

SOHH.com Writer. You're likely to find me covering hip-hop news and music releases. Netflix is still my go-to before Disney Plus.

28 Comments

    • Yeah but he has 108k going out though every month. 77k is month is good money to average person but not the rich lavish life style he portrays or I thought he was living at least.

    • lol, now if he had that money in investments and this is intrest there would be multiple financial records at the financial institution handling the investments. so your theory is trash.
      you cant collect intrest on cash you “supposedly” dont have. lol.

      also, you cant just move millions from one bank to another without the proper documentation. not saying it cant be done but those who do it arent doing it right before bankruptsy court.
      thats asking a mutha fuka to audit you.

      • His entire wealth isn’t subject to the ability to pay his debts. You can have protected assets when filing bankruptcy. Please understand he ain’t making any real money off 10 cents an album which hardly anybody is purchasing anymore. Almost all this is from money tucked away in a retirement account that pays him out monthly a portion of the interest. You don’t get almost 200k a month off of 5 million unless your rate of return is astronomical.

        • its called an annuity when you have a monthly income from a “retirement” account. and sorry to burst your bubble, they can be up for taking depending on what state your in.

          google Elisha Ortiz from kansas..lol she had her annuity taken

          • An annuity is just one vehicle for asset protection. There is also a blind trust, offshore accounts, and other retirement accounts that can be exempt. You need to also keep in mind this is chapter 11 and not chapter 7 or 9, meaning there isn’t a liquidating of assets. You don’t claim $185,000 in monthly income from interest without having an substantial amount of money from which the interest is earned on, that’s a fact and I don’t care how you slice. We all know nobody is buying 50 cent albums anymore so royalties is a non issue. We’re talking $70’000 per month and 850,000 a year to spend after all your expenses are paid. This dude ain’t broke he has some good accountants. Last point is he’s claiming less than 2 million dollars of debt if you take away the lawsuits. How is your debt so low if you’re such a bad manager of money and still pay all your bills on time? Shit doesn’t add up.

      • Hey dumbass how else do you get $185,000 a month? Not a year but an actual month in interest. Nobody is buying Get rich or die trying, the massacre, or any other album he’s released like that so it ain’t coming from any royalties. He declared the income to the judge he doesn’t have to provide the public a detailed account of his investments. What part of protected assets don’t you understand? Would you like me to explain it to you? This is not chapter 7 bankruptcy where you liquidate all your assets to pay your debt. Once again for the slow people chapter 11 allows you to restructure debt while maintaining your business activities without aan overseer of your financial affairs.

  1. Can anyone tell me this: wouldn’t the courts be able to access his Taxes and Income from each year? Wouldn’t that be all the evidence they need to decide if he is telling the truth? If he is only claiming 2 million a year in revenue/earnings on his tax return, he is going to be under heavy scrutiny by the IRS if he isn’t already.

    • yes. clearly. and its not that hard. also, those deals that he made are also under scrutiny.

      these folks talking about he aint broke, must be smoking crack. lol,
      this aint 1850, you cant hide money or move money like you used to be able to. hell a swiss account aint what it used to be nor is an account in some of these islands.

      • There’s a such thing as protected assets that aren’t subject to creditors in chapter 11 bankruptcy. Please educate yourself before thinking it’s treated the same as chapter 7.

        • i think you should rea up on it homie, whats he gonna sell huh? thats why there tallying up his shit homie. are they gonna have some one step in as a trustee or not, he gets his estate but he’s claiming his estate is not enough damn near to pay his debt.

          The protection doesnt allow you to mismange your funds after filing, he can loose his shit like that too.

          not everyone on these comments are stupid, nor are foolish enough to believe everything 50 cent yapps about.

          Its like the idiots who claim 50 got some 70mill deal for underwear..lo come the fuk on. thats fuking nba endorsement money

  2. How much money do you have to have to make $185k in interest per month? I’ll tell you that’s roughly 55 mill in investments at 4% interest which is a decent return on investment. This nigg@ ain’t broke!

    • Yeah but he has 108k going out though every month. 77k is month is good money to average person but not the rich lavish life style he portrays or I thought he was living at least.

    • lol, now if he had that money in investments and this is intrest there would be multiple financial records at the financial institution handling the investments. so your theory is trash.
      you cant collect intrest on cash you “supposedly” dont have. lol.

      also, you cant just move millions from one bank to another without the proper documentation. not saying it cant be done but those who do it arent doing it right before bankruptsy court.
      thats asking a mutha fuka to audit you.

    • His entire wealth isn’t subject to the ability to pay his debts. You can have protected assets when filing bankruptcy. Please understand he ain’t making any real money off 10 cents an album which hardly anybody is purchasing anymore. Almost all this is from money tucked away in a retirement account that pays him out monthly a portion of the interest. You don’t get almost 200k a month off of 5 million unless your rate of return is astronomical.

    • its called an annuity when you have a monthly income from a “retirement” account. and sorry to burst your bubble, they can be up for taking depending on what state your in.

      google Elisha Ortiz from kansas..lol she had her annuity taken

    • Hey dumbass how else do you get $185,000 a month? Not a year but an actual month in interest. Nobody is buying Get rich or die trying, the massacre, or any other album he’s released like that so it ain’t coming from any royalties. He declared the income to the judge he doesn’t have to provide the public a detailed account of his investments. What part of protected assets don’t you understand? Would you like me to explain it to you? This is not chapter 7 bankruptcy where you liquidate all your assets to pay your debt. Once again for the slow people chapter 11 allows you to restructure debt while maintaining your business activities without aan overseer of your financial affairs.

    • An annuity is just one vehicle for asset protection. There is also a blind trust, offshore accounts, and other retirement accounts that can be exempt. You need to also keep in mind this is chapter 11 and not chapter 7 or 9, meaning there isn’t a liquidating of assets. You don’t claim $185,000 in monthly income from interest without having an substantial amount of money from which the interest is earned on, that’s a fact and I don’t care how you slice. We all know nobody is buying 50 cent albums anymore so royalties is a non issue. We’re talking $70’000 per month and 850,000 a year to spend after all your expenses are paid. This dude ain’t broke he has some good accountants. Last point is he’s claiming less than 2 million dollars of debt if you take away the lawsuits. How is your debt so low if you’re such a bad manager of money and still pay all your bills on time? Shit doesn’t add up.

    • yes. clearly. and its not that hard. also, those deals that he made are also under scrutiny.

      these folks talking about he aint broke, must be smoking crack. lol,
      this aint 1850, you cant hide money or move money like you used to be able to. hell a swiss account aint what it used to be nor is an account in some of these islands.

    • There’s a such thing as protected assets that aren’t subject to creditors in chapter 11 bankruptcy. Please educate yourself before thinking it’s treated the same as chapter 7.

    • i think you should rea up on it homie, whats he gonna sell huh? thats why there tallying up his shit homie. are they gonna have some one step in as a trustee or not, he gets his estate but he’s claiming his estate is not enough damn near to pay his debt.

      The protection doesnt allow you to mismange your funds after filing, he can loose his shit like that too.

      not everyone on these comments are stupid, nor are foolish enough to believe everything 50 cent yapps about.

      Its like the idiots who claim 50 got some 70mill deal for underwear..lo come the fuk on. thats fuking nba endorsement money

Nas, The Weeknd, King Los, Fashawn, Yelawolf & More Help Kick-Off “Madden 16”

50 Cent

Ja Rule & 50 Cent Clash Again: “Wanna Compare #MeekVsDrake To 50VsRule, I’m Gonna Need One Of These N*ggas To Get Stabbed Or Shot!!!”