Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


50 Cent, rapper gone broke, settles debts

08 July 2016, 16:08

New York - Rapper 50 Cent, whose once-extravagant lifestyle crumbled after a failed business deal and a lawsuit over a sex tape, received court approval Wednesday to get out of bankruptcy.

A Connecticut court gave the green light to a proposal submitted by 50 Cent, who was celebrating his 41st birthday, to pay some $23.4 million to creditors over five years.

The plan approved by Judge Ann Nevins said creditors who accounted for 99.5 percent of claims against the rapper accepted his arrangement.

Best known for his album and movie "Get Rich or Die Tryin,'" the rapper filed for bankruptcy protection last year soon after losing a lawsuit over a sex tape.

50 Cent, whose real name is Curtis James Jackson III, had appeared in a wig and spoke in an artificially high voice as he narrated a video that depicted sex acts by Florida woman Lastonia Leviston.

Also read: Bankruptcy court official calls for review of 50 Cent assets

He had been seeking to mock fellow rapper Rick Ross, who was formerly in a relationship with Leviston. After she sued, 50 Cent was ordered to pay $7 million in damages.

Under the bankruptcy deal, 50 Cent will instead pay her $6 million, a court document showed.

The biggest claim against the rapper was from investors in Sleek Audio, a failed headphone venture.

He agreed to pay them more than $17.5 million under the deal.

In the settlement, 50 Cent said he was putting forward $7.4 million to his creditors immediately in cash and would generate nearly all the additional money by selling his home, a Connecticut mansion once owned by boxer Mike Tyson.

When he filed for bankruptcy protection, 50 Cent had told the court that his lavish lifestyle was all a show and that he even borrowed expensive jewelry that he returned after wearing it in public.

He did not appear chastened by the bankruptcy settlement, however. He posted pictures on Instagram of himself flying in a helicopter and, shortly after the judge approved the plan, wrote: "Oh now I remember where I put that money."

50 Cent had earned an estimated $100 million in 2007 when he sold a stake in enhanced water drink VitaminWater.



Read more from our Users

Submitted by
Kenya says will return to interna...

Kenya will return to international markets to borrow when it feels the time is right, National Treasury Cabinet Secretary Henry Rotich said on Tuesday. Read more...

Submitted by
Victor Tinto
Deal with corruption or lose in 2...

A Jubilee Party MP says that the unending corruption claims against the government are killing President Uhuru Kenyatta's re-election efforts for 2017. Read more...

Submitted by
Victor Tinto
MP accuses Raila of making up fal...

An MP has accused CORD leader Raila Odinga of bringing up non existent corruption scandals to hurt the Jubilee government. Read more...

Submitted by
Victor Tinto
Leave office if you can't handle ...

Leave office if you cannot handle corruption, an MP has told President Uhuru Kenyatta. Read more...

Submitted by
William Korir
Give me the chance to unseat Uhur...

Give me the chance to send President Uhuru Kenyatta home, Kalonzo Musyoka tells Kenyans. Read more...

Submitted by
William Korir
Explain your foreign trips since ...

Explain your foreign trips, Musalia Mudavadi tells President Uhuru Kenyatta. Read more...