Posted on 07/13/2015 8:27:04 AM PDT by SeekAndFind
Rapper 50 Cent has filed for chapter 11 bankruptcy protection Monday. "In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million," reports the Wall Street Journal.
The filing comes just three days after the "Get Rich or Die Tryin'" rapper was ordered to pay $5 million to a woman who sued him for posting a sex tape online.
Previously, 50 Cent was recently reported to be worth around $270 million, largely thanks to his minority stake in Vitamin Water. In 2007, the Coca Cola Company acquired Vitamin Water from Glaceau for $4.1 billion.
According to the Washington Post at the time, "50 Cent was thought to have walked away with a figure somewhere between $60 million and $100 million, putting his net worth at nearly a half billion dollars."
(Excerpt) Read more at businessinsider.com ...
Rapper 50 cent now worth .50
Sure, these athletes and rappers are stupid, but there’s got to be at least a few who are doing this to play the system - hide their millions somewhere, perhaps overseas, and then declare bankruptcy, to stick it to the man.
I wish he would file for Chapter 13.
He’s hiding it and he will get caught.
his creditors will get 30 cents of 50 cent.
“”In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts...””
I refer to him as “Mr. 50 Cent” or just “Mr. Cent”.
methinks its the five million hes trying to hide from the hoodrat whos suing him....thats at the base of this “tragic” bankruptcy
When asked where it all went, Fitty responded “b!tches and a$$. heh, heh....”
I agree with those that say he’s hiding it and I can’t blame him if he is. Hasn’t he expressed pro-business views (for a rapper) in the past? Or maybe they were “anti-tax” views.
The sad thing is that this “youth” likely killed a white person for that.
“I sent most of my money on women and booze. The rest I just wasted.”
Is he worth tree-fiddy?
Entourages can get expensive ,LOL
Not even worth a nickel now, and he’ll be dumping all his debt on the rest of us through bankruptcy. What a guy!
He is now No Cents.....................
$270 million? Damn, I could retire on that.
A very incomplete article that tells nothing about how he supposedly lost a fortune of up to several hundred million.
hiding assets from the civil suit, eh?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.