50 Cent files for bankruptcy

The Grammy award winner who was 'discovered' by Eminem filed for Chapter 11 bankruptcy with a Connecticut court yesterday. According to The Wall Street Journal the perhaps ironically named, 'Get rich or die tryin' star owes "debts in the range of $10 million to $50 million"

This news comes after the rapper paid $5million dollars in damages related to a sex tape. Claims were made by Lastonia Leviston that 50 cent stole a sex tape and added his own comments to it before posting it online.

With Forbes having named 50 Cent as number 4 on the list of wealthiest hip-hop rappers in May, garnering a net income of $155 million, this news will surely see him slink down the list.