Bankrupt 50 Cent Seeking to Rent Out Massive Mansion
50 cent, real name Curtis Jackson, filed for bankruptcy protection in July 2015, and during a meeting with creditors on Wednesday, August 5, 2015, it was revealed he is seeking to lease out the Farmington property, which costs him $72,000 a month to maintain.
50 Cent purchased the house, which boasts 21 bedrooms, nine kitchens and a casino, in 2003 from boxing champ Mike Tyson, who also went bankrupt while living at the pad.
The home has been valued at almost $8.3 million. It is not known how much the rapper is seeking from potential tenants, but his lawyer Stephen Savva reveals no deals have been reached so far.
The superstar filed for bankruptcy days after he was ordered to pay $5 million in damages to rap rival Rick Ross’ ex, Lavonia Leviston, for leaking her sex tape online. He was subsequently slapped with another $2 million in punitive damages.
In his bankruptcy documents, 50 Cent listed the value of his assets at between $10 million and $50 million, while his liabilities fall between the same range.
New court filings also reveal he is financially crippled by massive outgoings of more than $100,000 per month, including $1,000 on personal grooming and $5,000 on gardening.