Queens residents react to 50 Cent filing bankruptcy

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

QUEENS, N.Y. -- It is a much discussed topic online, and also in the Queens neighborhood where 50 Cent grew up.

50 Cent has worked hard earning the love and adoration of countless fans. Curtis James Jackson III grew up in South Jamaica, Queens.

"They think that he's a good guy, you know, he tried his best and he made it, and it is a shock that he has filed for bankruptcy," said Robin Bogues.

50 Cent now joins the ranks of Donald Trump, Willie Nelson, and others who have at one point filed for Chapter 11 bankruptcy protection.

According to Forbes, as of May, 50 Cent's net worth was estimated at $155 million. According to reports, with the filing, he listed his estimated assets between $10 million to $50 million, with liabilities in the same range.

In a statement, 50 Cent's attorney tells PIX11 News: "This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs."

His attorney also said, "Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case."

Just days ago, 50 Cent was ordered to pay 5 million dollars over someone's sex tape that a woman said he acquired.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.