By: Amanda Anderson-Niles
50 Cent has always been praised for his business acumen, but now the Hip Hop mogul is filing for bankruptcy now that he owes Rick Ross’ baby mama $5 million.
Page Six writes:
A Manhattan jury handed down the verdict after just 70 minutes of deliberation on July 10. The six jurors found that Jackson, as part of his rap beef with rival Rick Ross, posted a private s*x video featuring Ross’ baby mama online to millions of viewers.
The woman, Florida resident Lastonia Leviston, sued in 2010, claiming the posting nearly drove her to suicide.
Jackson was supposed to hand over a net worth statement plus his state and federal tax returns for the past five years on Monday so the jury could calculate punitive damages in addition to the initial $5 million award for Leviston’s emotional distress.
The disclosure would have provided a rare look into the finances of someone believed to be one of the world’s most successful rappers.
But the initial Connecticut Chapter 11 bankruptcy filing says Jackson has $10 to $50 million in assets and $10 to $50 million in liabilities.