The disclosure was revealed Wednesday, during a meeting with creditors conducted by U.S. Trustee, the federal agency overseeing 50's bankruptcy proceedings. Fif attended the meeting and answered questions under oath.
As previously reported, the 40-year-old rap star’s funds are getting low these days, what with all the monthly expenses and lawsuits in tow. The mansion is costing him over $70,000 a month, so letting it go would free up a good amount of money for the Queens native.
Fif bought the 50,000 square-foot mansion, which boasts its own nightclub, 21 bedrooms, and 37 bathrooms, from Mike Tyson in 2003. Back then, the price tag was only $4.1 million. He attempted to sell the estate in 2007 for $18.5 million before dropping the price over the years.
Click here to enter the #LookYourSundayBest contest for a chance to win FREE natural hair-care products.
BET.com is your No. 1 source for Black celebrity news, photos, exclusive videos and all the latest in the world of hip hop and R&B music.
(Photo: RGK, PacificCoastNews)