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50 Cent's Monthly Expenses Exceed $100K, According to Bankruptcy Docs

Image: 50 Cent's Monthly Expenses Exceed $100K, According to Bankruptcy Docs
50 Cent attends 'Power' Season Two Series Premiere at Best Buy Theater on June 2, 2015 in New York City. (Dimitrios Kambouris/Getty Images)

By    |   Wednesday, 05 Aug 2015 07:29 AM

Rapper 50 Cent spends more than $100,000 a month, including $9,000 on security and protection, $5,000 on gardening at his mansion, and $3,000 on clothes, according to his bankruptcy documents.

The spending figures, which were included documents filed in a Connecticut bankruptcy court Monday, are topped by a $72,000 item estimated to be the amount the rapper was spending per month to maintain his home that once belonged to boxer Mike Tyson, according to The Wall Street Journal's MarketWatch.

The former world boxing champion reportedly gave the Farmington, Connecticut, estate to his ex-wife Monica Turner to settle a divorce in 2003, and 50 Cent, whose real name is Curtis Jackson, later purchased the mansion for $4.1 million. according to Boston.com.

Jackson spent $6 million renovating the 52-room, 17-acre property, adding an infinity pool, a grotto, a movie theater, and a helicopter pad.

"He's put a lot into it, and it's all very tasteful, except the stripper poles," a real estate agent who toured the home in 2007 told Boston.com.

In the filing, Jackson claimed a monthly income of $185,000 or $2.2 million annually, according to The Huffington Post. That income stems mainly from royalties and investment interest. The court documents also report losses of more than $10 million in 2013 and 2014 in Jackon's record, adult film and G-Unit brand businesses.

Jackson's papers also reveal that he owns seven cars valued at more than $500,000, including a 2010 Rolls Royce and a 1966 Chevrolet coupe along with real estate in Atlanta and Long Island.

The Wall Street Journal reported that Jackson also is paying out $855,091 in child support to model and ex-girlfriend Daphne Narvaez, who is mother to the couple's daughter Sire.

"This type of debt doesn't go away when you file for bankruptcy protection," The Wall Street Journal's Katy Stech wrote. "Just ask [rapper] DMX, who filed for bankruptcy in 2013 saying that his $1.2 million in child support debt was preventing him from getting a passport to perform overseas. The case was later dismissed."

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Rapper 50 Cent spends more than $100,000 a month, including $9,000 on security and protection, $5,000 on gardening at his mansion, and $3,000 on clothes, according to his bankruptcy documents.
50 cent, monthly, spending, bankruptcy, filing
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2015-29-05
Wednesday, 05 Aug 2015 07:29 AM
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