50 Cent has listed his massive mansion for millions less than it was originally priced
Just over two months after the "Get Rich or Die Tryin" rapper filed for chapter 11 bankruptcy, he has officially listed his 21 bedroom, 25 bathroom home in Farmington even lower than ever at $8.5 million, The Hartford Courant reports.
Jackson originally bought the massive property for $4.1 million in 2003 from boxer Mike Tyson, and has reportedly spent between $6 million and $10 million on renovations.
He tried to turn around and sell it in 2007 for $18.5 million, but it was to no avail, and the property's value has been on a steady decline ever since.
The home is truly something special. It has a dance club inside, a helipad on top, a huge gym, massive pool, and basketball courts both inside and out, but costs Jackson $72,000 a month to maintain.
Jackson's June bankruptcy filing uncovered the truth about the rapper's finances. Forbes listed his net worth at $155 million in May, but those numbers proved to be very misleading.
The rapper currently owes $7 million to a woman named Lastonia Leviston, who won the payment in court after 50 Cent released a sex tape of her to the public as payback to rival Rick Ross, who fathered a child with Leviston.
He also owes an $18 million court-ordered payment to Sleek Audio after a partnership to produce headphones failed. The filings total $25 million, the same amount 50 Cent claims in assets.
"Everything another man works for, and the only thing, as a man, you got is your name: Get Rich or Die Tryin'," Ross said. "You can come back tomorrow and explain it and say, 'I'm doing this, I'm doing that' -- stop. Stop. There's holes in your roof, fam."
Whether Jackson is broke or not, there's a good possibility he might have to drop the property's price even more.
Local Farmington real estate expert Rob Giuffria told The Courant that Jackson has no chance to sell the property at its current price. "8.5 million? Not a chance," Giuffria said. "50 would have a better chance being a country music singer."