Curtis Jackson, the rapper also known as 50 Cent, has already racked up tens of thousands in legal fees since filing for Chapter 11 protection in July to reorganise his mounting debts.
Three different law firms are tied to Jackson’s bankruptcy, according to the electronic docket for the US Bankruptcy Court for the District of Connecticut. One of those firms, Robins Kaplan, filed its first fee statement this week — giving a glimpse into how much money the rapper with the notoriously lavish lifestyle spends on his lawyers.
Jackson incurred roughly $US85,000 in fees and $US5,000 in expenses from this one firm between July 13 and September 30, thought the firm is only requesting 80% of the fees at this time. (It’s not clear if the firm will request the rest of those fees in the future.)
The rapper incurred more than $US17,000 because of his ongoing legal dispute with a woman whose sex tape he posted online and about $US15,000 for legal representation involving his “trademark maintenance.”
Eighteen lawyers worked on Jackson’s behalf, as did three paralegals and an investigator. Eight parnters worked for Jackson, seven of whom had billing rates of $US675 an hour. (To be fair, this rate is actually on the low side compared to some big corporate law firms, which can charge well more than $US1,000 for an hour of a partner’s time, the blog Above the Law noted last year.)
Even though they’re not necessarily exorbitant, these fees could add up as the bankruptcy drags on — especially considering the fact that Jackson is involved in multiple legal disputes on top of his Chapter 11 case.
Business Insider Emails & Alerts
Site highlights each day to your inbox.