(AllHipHop News) By now, much of 50 Cent’s financial situation has become public knowledge. The “In Da Club” rapper famously filed for bankruptcy last year, but a new report by DJBooth suggests 50 is still bringing in nearly $350,000/year from music royalties.
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Documents from 50’s bankruptcy filing have made their way online, and a paper labeled “individual debtor cash receipts and cash disbursements” show the G-Unit boss made $28,963.23 from royalties in December.
According to the Wall Street Journal, 50 (born Curtis Jackson) sold half of his on-air radio play royalty rights to Kobalt Music Group for $3 million several years ago. He then sold the other half in 2015 for another $3 million.
However, the deal allowed for the Queens native to collect some percentage of the royalties again after Kobalt recoups the $3 million advance. In addition, 50 still owns the rights to sell his albums, only having to pay for distribution.
Forbes estimated 50 Cent’s net worth to be around $155 million in May 2015, but that was before he filed for bankruptcy in July. In December, reports began to circulate that 50 now owes at least $28 million to various debtors.
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