50 Cent Drops Big Bucks to Dissolve Bankruptcy

Jackson paid off the debt early by parting with $8.7 million of his own money.

By Robyn Collins

“Get Rich or Die Tryin'” rapper, 50 cent, had to pay heavily, but his bankruptcy case has been discharged by a federal judge.

Related: 50 Cent to Receive $14.5 Million Settlement from Former Legal Team

50 (real name Curtis Jackson III), filed for Chapter 11 in 2015 claiming debt of $36 million and assets of less than $20 million.

Bankruptcy Judge Ann Nevins approved the discharge yesterday (Feb. 2) in Hartford, Connecticut.

Nevins also approved a plan in which the rapper would pay about $22 million over a five-year period. The artist’s lawyers revealed that Jackson paid off the debt early by parting with $8.7 million of his own money, and $13.65 million he received in a recent settlement.

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