There are about 50 different ways we could start this story — Does this mean he's going to die tryin'? He’ll take you to the candy shop, but he won’t buy you anything — but we'll spare you.

Rapper Curtis James Jackson III, better known as "In Da Club" chanteur 50 Cent, has filed for bankruptcy. A petition filed in the U.S. Bankruptcy Court in Hartford, Connecticut, on Monday reveals that the Grammy winner has reported estimated assets and debts in the $10 million to $50 million range. It also indicates that Jackson has between 1 and 49 creditors.

The news comes as something of a shock, considering that Jackson has long been considered one of the hip-hop community's most savvy businessmen. He's the founder of G-Unit Records and G-Unit Films, and cofounder of the G-Unit Clothing Company. In the mid-aughts, he also partnered with the beverage company Glacéau, the creator of Vitamin Water, on an enhanced water drink called Formula 50. Jackson had a minority share in that company; he reportedly earned $100 million after taxes when Coca-Cola purchased Glacéau.

As recently as 2014, Forbes touted 50 Cent as the fifth most wealthy artist in hip-hop, citing his net worth as $140 million.

News of Jackson's bankruptcy comes just days after a jury ordered Jackson to pay $5 million to a woman who accused the rapper of obtaining a sex tape she had made and posting it online without her permission.

The filing could help Jackson avoid paying those damages: filing for bankruptcy also removes most judgments from a lawsuit.

Update: Jackson's lawyers have released a statement saying that his bankruptcy filing "allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests." Attorney William Brewer also states that Jackson can "continue his involvement with various business interests and continue his work as an entertainer" despite the filing.