50 Cent Bankruptcy - Earlier this week, 50 Cent has filed for bankruptcy, revealing that he owes creditors over $28 million.

On Thursday, Curtis "50 Cent" Jackson released to a federal court his list of creditors, whom he directly owed the exact amount of $28,478,920.75, according to Headlines & Global News.

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The rapper's biggest unpaid creditor, which led to the 50 Cent bankruptcy filing, is Florida-based company "Sleek Audio." The company had won $18.4 million against Jackson following claims that the musician stole their design, The Wrap reported. Jackson had not made a successful appeal for the ruling.

The 50 Cent bankruptcy filing, a Chapter 11 Bankruptcy, was filed Monday. It took place only two months following a Forbes estimate of the rapper's huge net worth, which had been at $155 million. The number ranked him fourth among the list of wealthiest hip-hop artists.

50 Cent's "debts are primarily consumer debts," according to court documents filed in the U.S. Bankruptcy Court in Hartford, Conn.  

Curtis Jackson previously reported assets and liabilities which ranged $10-$50 million. His other debts include a $1,737.33 debt to his grandfather, a $137,880 debt to Bentley for a car he leased and more than $1 million in debts due to legal bills.

The 50 Cent bankruptcy filing took place three days after 50 Cent lost a lawsuit brought by a woman who had a sex tape, which Jackson posted on his website without her permission. Jackson took hold of the Lastonia Leviston's sex video in the midst of a public argument with rival rapper Rick Ross in 2009. Lastonia is Rick's mother and her video was of her with a former boyfriend.

Jackson allegedly bought the Lastonia Leviston sex tape from the ex, superimposed his face onto the man's body and posted the video online, according to The Independent.

But perhaps rather than the rapper's business instincts deserting him with the 50 Cent bankruptcy, it might be that this is simply a smart move for the rapper. It is possible that 50 Cent may be having the last laugh in light of all his money issues.

The rapper told E! News at a "Southpaw" junket that the 50 Cent bankruptcy filing is simply a "precaution" he is taking.

"I'm taking the precautions that any other good businessperson would take in this situation," said the rapper. "You know when you're successful and stuff, you become a target. I don't wanna be a bull's eye. I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that."

In fact, other than his seeming confidence and assurance that there was nothing to worry about, the 50 Cent bankruptcy issue was addressed in a very casual note.

"Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy," he said. "It means you're reorganizing your finances, but it does stop things from moving forward that you don't want moving forward. I gotta decent legal team. You don't have to worry."

In addition, the rapper posed next to a smartcar in light of the 50 Cent bankruptcy filing protection announcement on Monday. The rapper from Queens, N.Y. posted the Instagram snapshot and cleverly captioned it with, "Times are hard out here LMAO #EFFENVODKA #FRIGO #SMSAUDIO."

Following the July 24 opening of "Southpaw" which  the business mogul's stars in, his finances are expected to increase, suggested Headlines & Global News. "Southpaw" stars actors Jake Gyllenhaal, Forest Whitaker, Rachel McAdams, Naomie Harris, and Rita Ora, among others, according to imdb.com.  

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