The pirates would get nothing because a ninja swoops in and steals it all. After all, ninjas ARE cooler than pirates!
Seriously, I'll try to reason things out :
Since what the pirates value the most is their own lives. To survive Pirate 1 would have to sacrifice money for his life so he'd propose :
1 - 0
2 - 0
3 - 0
4 - 50
5 - 50
4 would accept the offer because it's the most he can pull out of the deal and so would 5, 3 and 4 would of course refuse and pirate 1 would approve of his own proposal.
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