In its simplest form if you have more debt than assets, you are technically broke. With that being said, most people have more debt than assets, so it doesn’t mean you are starving.
50 Cent isn’t going to homeless any time soon, but he filed new bankruptcy docs saying he has more debt than he originally thought.
The new docs reveal that 50 Cent has over $8.8 million in real estate & $11 million in personal property for a grand total of $19.8 mill in assets.
However, he says his true amount of liabilities after reviewing all his debt comes tot $31,315,798.
His monthly income is only $184k and he spends $108 in expenses per month. He currently owes $855k in domestic support obligations and $1.48 million in taxes and debts to the government.
The judge has yet to rule on the case or potential repayment agreements.