While rapper Curtis Jackson III, better known 50 Cent, would like to convince the whole world that he is really not that rich, he cannot hide how expensive it is to be him.
50 Cent claims his monthly expenses total $108,000 (Ksh11 million) or about $1.3 million (Ksh132.9 million) a year.
That includes both personal and household expenses, child support and car payments, according to documents filed in Connecticut bankruptcy court which Business Insider acquired.
The allocations also include thousands of dollars in monthly “personal grooming,” “wardrobe” and “gardening” expenses.
A total of $72,000 (Ksh7.4 million) a month goes to payments and upkeep for 50 Cent’s three homes in Connecticut, New Jersey, and Georgia areas of the United States.
Jackson says the majority of that goes to the Connecticut home — the one with 21 bedrooms, 24 bathrooms, and a nightclub.
The Candy Shop star pays $17,400 (Ksh1.78 million) for his mortgage every month. A utility bill totaling $14,200 (Ksh1.45 million) a month powers all those rooms, plus a movie theater and a basketball court.
He keeps the landscaping lush with $5,000 (Ksh511, 000) a month in gardening fees. And the swimming pool is probably ready to use 24 hours a day at just the perfect temperature for a $1,500 (Ksh153, 000) monthly maintenance fee.
See his household expenses breakdown here:
The 40-year-old’s other monthly expenses include child support for two children totaling $12,100 (Ksh1.2 million) and $2,500 (Ksh256, 000) in support for his grandparents.
His cars [which are worth about $500,000 (Ksh51 million)] cost the rapper $9,200 (Ksh940, 000) a month, which includes leases, insurance and other expenses.
That covers seven cars: a 1966 Chevrolet Coupe, 2015 Chevrolet Suburban, 2010 Rolls Royce Phantom Drophead, 2005 Chevrolet Suburban, 2008 Dodge Sprinter, 2003 Chevrolet Suburban, and a 2012 Suzuki Kizashi Sport.
As far as the rapper’s own personal upkeep, he says he spends $1,000 (Ksh102, 000) a month on personal grooming and $3, 000 (Ksh307, 000) on wardrobe.
On top of that, he spends $3,000 (Ksh307, 000) a month on meals and entertainment, as well as $2,000 (Ksh204, 000) a month on travel.
See the breakdown of his personal expenses here:
50 Cent’s attorney provided a statement to Business insider.
“A filing for personal bankruptcy protection is a complex and often time-consuming process,” said William A. Brewer III, partner at Brewer, Attorneys & Counselors.
“Lost in the reporting about Mr. Jackson’s assets, liabilities and individual expenses is the reason for the filing – to pursue an orderly reorganization of his financial affairs.”
Brewer added: “It is important to remember the filing for protection permits Mr. Jackson to continue his active involvement in numerous business, entertainment and philanthropic interests.”
(Additional information by Business Insider)
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