Fiddy's bankruptcy court hearing detailed monthly outgoings of six figures, though the rapper denied he lives a lavish lifestyle.
50 Cent has revealed during his bankruptcy court hearing that his lifestyle incurs monthly expenses of $108,000, including $5,000 for gardening.
The Associated Press has reported that the Chapter 11 bankruptcy documents show that the rapper-turned-actor, real name Curtis Jackson, filed on Monday detail a huge array of expenses and back payments he owes to various people, including to his barber, personal stylist and fitness coach.
50 Cent has denied living a lavish lifestyle, despite court documents detailing monthly expenses of $108,000
Following last month’s decision by a New York City jury that Jackson should pay $7 million in punitive damages to Lastonia Leviston, a woman whose sex tape he is alleged to have leaked online back in 2008, the Get Rich Or Die Tryin’ star filed for bankruptcy despite being recently listed by Forbes as the fourth richest hip-hop artist in the world.
More: 50 Cent ordered to pay extra $2 million to sex tape victim
The reports indicate that Jackson receives approximately $185,000 a month, mainly through royalties from his music and returns on his investments, but spends nearly $72,000 of that maintaining his 50 room suburban mansion in Hartford, including utilities, insurance, property tax and mortgage.
On top of that, he pays $14,600 a month supporting his two children and grandfather, plus $9,000 on security, $5,000 on gardening, and $4,000 combined for his wardrobe and grooming products and $1,500 for swimming pool maintenance.
Jackson’s main source of financial woes, according to TMZ, are apparently the various ‘G-Unit’ brands that he owns, including a record label, which have cost him over $10 million in the last three years.
During the testimony, Jackson is said to have denied that he lives a lavish lifestyle, even though the documentation states that owns a Rolls Royce and three Chevy Suburbans. He is due back in the bankruptcy court on Wednesday (August 5th).
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