Curtis Jackson aka 50 Cent filed for Chapter 11 bankruptcy protection on Monday.
The filing followed after a judge ruled that 50 Cent owed Rick Ross’s former girlfriend $US5 million for exposing a sex tape with her on it.
And despite what the jokers say on Twitter, that doesn’t mean the rapper is actually broke.
In addition to his studio albums selling more than 21 million units and a handful of endorsement deals, 50 Cent serves as an executive producer on Starz’s hit show, “Power,” which is currently airing its second season.
“Power” stars Omari Hardwick as James “Ghost” St. Patrick. Ghost owns a nightclub and he’s involved in New York City’s dangerous drug trade. Although he wants to legitimately focus on his nightclub, the drug world has a strong hold on him.
It has also been a ratings success for Starz. The second season premiere was the premium network’s highest-ever season premiere with 1.43 million people tuning in live.
50 Cent doesn’t consider himself to be your typical executive producer.
“I’m not doing traditional on-set production,” he said during January’s Television Critics Association Press Tour. “I kind of keep up communications with the talent. When you participate by acting in the series at the same time with them, you build that bond on the talent level and communication’s open. Everybody feels comfortable to come to you to tell you what a problem is before creating an additional problem.”
On screen, the rapper plays Kanan, Ghost’s former mentor who is now gunning for his ex-student’s drug empire.
So how much is 50 Cent making off his work on “Power”? According to Glassdoor, TV executive producers make an average of $US146,538. Since 50 Cent is a name, he can make more. THR reports TV actors can make between $US150,000 to $US1 million an episode.
Just this May, Forbes estimated 50’s net worth to be around $US155 million, ranking him No.4 on the list of the wealthiest hip-hop artists.
50 Cent can depend on the Starz paycheck for at least another year as the series was given a Season 3 renewal in June.
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