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JUDGE AGREES THAT 50 CENT IS BROKE


According to a federal bankruptcy judge, 50 cent is worth $20 million and his debts are over "32.6 million. The Grammy Award-winning artist, whose real name is Curtis James Jackson III, filed for chapter 11 bankruptcy last summer after losing a $7 million defamation lawsuit brought by a woman after he released a sex tape of her.

He also owes $18.1 million to Sunburst Bank and Sleek Audio LLC over a failed headphones venture; $4 million to mortgage lender SunTrust Banks Inc. STI, -0.44%  ; and $1.2 million to ASCAP for advance payments on song royalties. All told, his debts total $32.6 million.

Under the plan approved Wednesday by a judge in Hartford, Connecticut, 50 Cent will repay between 74% and 92% of his debts over the next five years. The filing listed 50 Cent’s assets, including a 21-bedroom Connecticut mansion once owned by boxer Mike Tyson, valued at $8.25 million, which will be sold; about $10.6 million in cash and securities; and a Bentley valued at $167,000. He also included 70% of whatever he wins from a pending malpractice lawsuit.

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