Biggie Smalls infamously said “more money, more problems,” and by now, 50 Cent definitely knows what he meant.
According to new court documents filed as part of Fifty’s suit for bankruptcy protection, his assets stand at just $16 million, TMZ reports. Though the figure, a combination of $8.8 million in real property and $7.4 million in bank accounts, isn’t a small amount by any means, such is a tiny percentage of the astronomical wealth the businessman is accustomed to.
Shortly after his music career took off in 2003, 50 Cent put his mogul hat on, founded his own label, and entered various business deals including multi-year contracts with VitaminWater, Reebok, and SMS Audio. By May 2015, Forbes estimated the Queens native’s net worth to sit at nearly $155 million. But just two months later, the rapper filed for Chapter 11 bankruptcy citing over $32 million in debt, $5 million of which he owed to the mother of Rick Ross’ child after he reportedly leaked her sex tape during his beef with Rozay years ago.
Still, the 40-year-old insists that despite his diminishing net worth, he is not broke and his recent bankruptcy filing is purposed to reorganize his financial affairs.