Yesterday (July 13) 50 Cent filed for Chapter 11 bankruptcy protection.
50 Cent spoke on the reason for the filing at the Southpaw press junket in Los Angeles.
“It’s for protection, so I’m not taken advantage of,” he says.
The G-Unit boss says that he will make some adjustments to his personal account.
“I’m fine, you don’t see me smiling?” he says, grinning widely.
Friday (July 10) the rapper was ordered to pay Lastonia Leviston $5 million for posting a sex tape of her. Last year, he lost a lawsuit against Sleek, a headphone company he once worked with. That will cost him $16 million.
“I’ll be aight,” he says.
For additional 50 cent coverage, watch the following DX Daily:
Damn. That sucks.
It’s for actual protection
Ja rule army in Australia doing a sell out tour,where u at 50 lol.. ja doing credit cards now aswel 50 maybe he can help you out
Those lawsuits are no fucking joke.
50 Cent has something between 10-50 Million in assets. Let’s say his net worth is 25 Million, to give it a solid number. He owes 22.2 Million for the lawsuits. (17.2 for sleek and 5 Mill for Rick Ross’ child’s mother) and also has to pay for other things like his indie label/artists expenses, money to maintain his huge multi million home he couldn’t sell, living expenses for his younger child’s mother and two children, and he also has multiple failing businesses. All together his expenses total to more than he actually has, which is why he filed for bankruptcy. Doing this gives him time to try and get his shit together and figure out how to pay what he owes, but it doesn’t mean he doesn’t have to pay, as his stans keep saying. I doubt he will make it out of this unless some huge miracle happens. The 50 Cent brand isn’t strong enough to make that kind of money anymore. In the end he will probably lose everything he has, all over his poor choices. It’s kind of sad, really. I’m not impressed
STFU @ Stop wishing bad on someone and worry about your life scum..
Get a clue chap 11 has nothing to do with personal money. It is for business reasons
Dude says let’s say his net worth is this amount. Clearly shows you just making up numbers just to hate!!! You don’t know how much money he has.
@Jharp14 It was reported that he has a net worth between 10 and 50 million is assets. I think 25 Million is a fair enough assumption. The news said that he owes just as much as he has, and he owes more than 22 Million for the law suits at least.
FORBES reported a few months ago he was a Cash King and worth around $150 million. 22 million isn’t gonna bankrupt 50 haha
I am hiding my money so I don’t pay lawsuits
I bet somebody’s gon take him out…..
Damn fif u effed it up again, you can’t play the Game with 50cents.
You can’t fukk with Game.
donald trump has filed bk at least 4 times for buisness protection, you don’t see him broke do you? most of you have never had enough money to know the system.
he went from 10 billion from 2 billion in 5 years after filling it cause ven tho you wont pay it in time you still will pay it
24 hours in and the armchair financial advisers and scrubs are out echoing forbes articles, calling people stans, laughing like they won, but they ain’t even make $20 in 24 hrs to pay for that bandwidth they’re using.
pimpin curly is scared crying.. trying to backtrack.. nigga you broke
50 will be ok. But…..those are major lawsuits for a single person to pay out. Poverty heard of celebs losing suits & stuff but nothing ever close to 22 million! I mean that’s more like divorce money.
I’ve* heard
“It’s because I’m a snake and don’t want to pay the woman I have abused.”
Am coz I’m broke like god damn snitch boy wtf happened to you?? Ended up being all troll on the net
@ the reason what woman he has abused…a woman selling pussy for money…don’t hate for the sake of hating…he’s going through a bad patch like every person goes through once in a while…I believe if he works hard and avoid some of the mistakes he made he will be alright