50 Cent has reached a bankruptcy deal that will end his longtime financial troubles. As reported by TMZ, a judge signed off on a deal for 50 that will require him to pay out $23 million to his creditors over the next five years, including $17 million to Sleek Audio and $6 million to Lastonia Leviston. If you remember, 50 was ordered to pay over $7 million to Leviston, who is also the mother of Rick Ross’ child, for publishing her sex tape with his own personal commentary.
The proposed plan was actually first presented to the judge by 50’s team back in April, but the judge just signed off approval. “Mr. Jackson is pleased that the Bankruptcy Court approved his plan of reorganization today, less than one year after filing for chapter 11 to reorganize his financial affairs,” 50’s lawyer told TMZ. “Mr. Jackson appreciates the fresh start this process provides.”
News of 50’s finances first erupted back 50 Cent filed for Chapter 11 bankruptcy protection in July of 2015. Many thought this meant that 50 was broke, but a clear list of his assets proved that to not be the case. Instead, the filing allowed 50 time to reorganize his assets and pay money that he owed, like the court-ordered money to Leviston, over a period of time.
It seems that there is no time to celebrate the good news as 50 is already back at his many jobs. The rapper has been hard at work in his partnership with Effen Vodka, traveling to events and promoting the brand and was even posting up evidence of his hustle earlier. “My schedule is crazy right now I’m everywhere . No days off, 😉#EFFENVODKA #FRIGO,” he captioned an Instagram of himself in a helicopter Wednesday before adding, “I told you I’m a hustler, watch me work.” We imagine 50 is going to have to keep working hard to ensure that the money continues to flow in so that he can live up to his end of the deal. Hopefully 50 can keep this momentum going and avoid the trouble that has seemed to follow him lately.