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According to TMZ -

50 Cent isn't really broke but he's making it look like he is -
He just gave the bankruptcy judge a list of many creditors and his grandfather is one of them

1,737.44 exactly is due to his grandfather -

He owes Bentley – American Express and a few others but 50 Cent is laughing at the bankruptcy most recently by making it rain at West Hollywood strip club. 

Source TMZ