News

50 Cent Addresses And Jokes About Bankruptcy

By HHL Editors
pixel_start

Twitter and the rest had a lot of fun with 50 Cent declaring bankruptcy.

But during a press junket to promote his new movie Southpaw, 50 said going Chapter 11 was simply the prudent move given his current financial situation.

"I'm taking the precautions that any other good businessperson would take in this situation. You know when you're successful and stuff, you become a target. I don't wanna be a bulls eye. I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that." "Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you're reorganizing your finances, but it does stop things from moving forward that you don't want moving forward. I gotta decent legal team. You don't have to worry."
Earlier this year, Forbes had listed 50 Cent as being worth $150 million. However, in court filings yesterday, Fif declared his assets between $10 and $50 million -- the same as his debts.

On Friday, a jury decided that 50 must pay Rick Ross's baby mama Lavonia Leviston at least $5 million for leaking her sex tape in 2009. That number could swell this week when the jury calculates punitive damages.

In December, 50's personal bank account was frozen because he still hadn't paid the $17.2 million judgement that went against him in his legal battle with Sleek Audio, who accused Fif of stealing their headphone design and marketing.

Two months ago, 50 Cent's boxing company SMS Promotions declared bankruptcy.

While Fif's financial future is suddenly in question, at least he still has his sense of humor:

Times are hard out here LMAO #EFFENVODKA #FRIGO #SMSAUDIO

A photo posted by 50 Cent (@50cent) on

pixel_end
Posted In: News 50 Cent
News Drake Has The Internet Buzzing After Sharing New Lyrics Drake Has The Internet Buzzing After Sharing New Lyrics / News News Future Makes Very Interesting Comment about Drake-Kendrick lamar Beat Future Makes Very Interesting Comment about Drake-Kendrick lamar Beat / News News Dr. Dre Shades The Game When Asked About Super Bowl Halftime Show Dr. Dre Shades The Game When Asked About Super Bowl Halftime Show / News News Kendrick Lamar Addresses Why Black Hippy Failed Kendrick Lamar Addresses Why Black Hippy Failed / News News Report:  Puff Daddy Is Running MDC Brooklyn Report: Puff Daddy Is Running MDC Brooklyn / News News Shyne Explains how Much Diddy Gave Him For Ten Years & Spitting in His face Shyne Explains how Much Diddy Gave Him For Ten Years & Spitting in His face / News