So when you first heard 50 Cent was bankrupt, I’m sure you thought it was a joke right?
Well it is true, he did file for bankruptcy, but the reason behind him doing so was actually a business decision. The rapper filed for chapter 11 bankruptcy protection, to protect his finances so no one takes advantage of his success.
Now we all know 50 can never be serious right? He even posted a picture on Instagram to attempt to prove it. The caption was; “Times are hard out here LMAO #EFFENVODKA #FRIGO #SMSAUDIO.”
“Walt Disney had filed for bankruptcy before. Donald Trump has filed bankruptcy,” 50 Cent told E! News, “It means you’re re-organizing your finances. But, it does stop things from moving forward that you don’t want moving forward, so…”
Funny enough 50 made this decision after he was ordered on Friday to pay Lastonia Leviston $5 million because of the sex tape that he posted back in 2009 to get at Rick Ross, back when they were beefing. So coincidence? I think not! He also mentioned, “I’m taking precautions that any good businessperson would take in this situation.”
Now 5 reasons why 50 isn’t bankrupt:
1) He’s the fourth richest rapper in Hip Hop
On May 7th of this year (just 2 months ago), 50 cent was named the fourth richest in Hip Hop on the prolific Forbes List announcements with a net worth of $155 million. He has appeared in Forbes Hip Hop rich list every year since 2011.
2) He’s rich off of lucrative brand deals
He sold vitamin water for $100 million in 2007, surely he’s still got some chicken change hanging around from that?
3) SMS Audio is doing very well
His headphone brand ‘SMS Audio’ has an exclusive deal with Walt Disney Parks and Resorts and it the only headphone brand available at Disney World and Disneyland, also with Lucasfilm’s Star Wards. He has big audio collaborations with other corporations including tech giants Intel, Reebok and Marvel.
4) He’s in a new movie called “Southpaw” and appears in “Magic Mike XXL”.
He also stars in and is the executive producer of Starz’s “Power”, which has arguably been the most talked about US tv show in 2015.
5) He’s getting big bookings still.
This Friday he will be performing at the O2 Arena for a special show with G Unit and Fabolous. We know he’s not doing that for free.
Don’t you wish you were as bankrupt as 50 cent?