50 Cent is bankrupt

Post50 Cent is bankrupt by **Cumberdanes** » Mon Jul 13, 2015 6:22 pm

I don't really know a lot about the guy but I always assumed he was filthy rich.

http://www.bbc.co.uk/news/business-33514174

Guess his name is worth more than he is now

PostRe: 50 Cent is bankrupt by **Lagamorph** » Mon Jul 13, 2015 6:28 pm

Sounds like he's using it as a way to avoid paying out for being sued.

PostRe: 50 Cent is bankrupt by KK » Mon Jul 13, 2015 6:32 pm

Is this like a Kerry Katona bankruptcy where you say you're broke but still live in a £400,000 house.

PostRe: 50 Cent is bankrupt by **Rog** » Mon Jul 13, 2015 6:41 pm

PostRe: 50 Cent is bankrupt by **zXe** » Mon Jul 13, 2015 7:04 pm

He'll be running back to Floyd Mayweather.

PostRe: 50 Cent is bankrupt by **JediDragon05** » Mon Jul 13, 2015 7:07 pm

Word up gangstas, double G's in the courthouse yo

KKLEIN wrote:Is this like a Kerry Katona bankruptcy where you say you're broke but still live in a £400,000 house.

Yeah that's my guess, as lagamorph says I think he's just using it to protect himself from a lawsuit.

PostRe: 50 Cent is bankrupt by **Green Gecko** » Mon Jul 13, 2015 10:49 pm

His personal finances are entirely separate from the business he has a stake in unless he cashes those stakes out. Legally 50 Cent the person and his companies are seperate incorporations. He has probably just invested his money in other entities and only liquid assets count for bankruptcy unless those assets are repossessed. Because of this his personal finances are debts not credits and this way he can file bankruptcy to not pay the fine at least for now.

PostRe: 50 Cent is bankrupt by **Lagamorph** » Tue Jul 14, 2015 12:04 am

So in other words, dump all his money into a business, declare himself bankrupt, probably wait a few years then suddenly cash out his investments which will likely be worth more than they were before.

That or he could release a follow up to 50 Cent Blood on the Sand.

PostRe: 50 Cent is bankrupt by **Green Gecko** » Tue Jul 14, 2015 12:27 am

Yeah basically that.

Filing bankruptcy destroys your credit rating but does that really matter when you have assets worth 150 million dollars... Nope.

PostRe: 50 Cent is bankrupt by **Squinty** » Tue Jul 14, 2015 8:34 am

This guy just sort of disappeared for me. I forgot he existed.

PostRe: 50 Cent is bankrupt by **BID0** » Tue Jul 14, 2015 8:46 am

Doesn't he do a lot of work in his community? I remember watching a video of him clearing peoples drives in his street of snow a few years ago.

BID0 wrote:Doesn't he do a lot of work in his community? I remember watching a video of him clearing peoples drives in his street of snow a few years ago.

Was he wearing an orange jump suit at the time?

PostRe: 50 Cent is bankrupt by **Moggy** » Tue Jul 14, 2015 8:59 am

His debut album was released in 2003, with inflation that means he should now be 64 Cent.

PostRe: 50 Cent is bankrupt by **BID0** » Tue Jul 14, 2015 10:24 am

Return_of_the_STAR wrote:
BID0 wrote:Doesn't he do a lot of work in his community? I remember watching a video of him clearing peoples drives in his street of snow a few years ago.

Was he wearing an orange jump suit at the time?

50 Cent Shovels Snow for Money After Northeast Blizzard

50 Cent Shovels Snow for Money After Northeast Blizzard

The ever-enterprising 50 Cent made the most of the blizzard that left the East Coast blanketed with snow on Monday (Dec. 27), offering neighbors $100 to shovel their walks and posting photos of himself doing the grunt work on Twitter.

"I'm going out to shovel snow and see if I can make me a few extra dollars today," 50 Cent, who lives in Connecticut, first tweeted on Monday afternoon. "I'm charging more if they want to take pictures."

The MC then named his price: "I want a hundred dollars per house. I bet anybody I'll make a grand moving snow today." Soon after, he told followers that four people had agreed to pay the fee and that he'd hired "employees" to increase efficiency, saying, "This snow moving business is just to see if laws apply to every business. After the first job I got 4 more now I have 3 kid[s] I hired."

Despite what sounded like a sophisticated shoveling operation, 50 Cent posted two photos of his efforts on Twitter that showed the rapper digging out snow with an average-lookng blue shovel and wearing a parka and hat, but no gloves. When one concerned fan asked, "Where are your gloves? I don't want your hands to get cold," he replied that he'd since found some.

http://www.billboard.com/articles/news/ ... t-blizzard

PostRe: 50 Cent is bankrupt by **Herdanos** » Tue Jul 14, 2015 11:20 am

> "get rich or die tryin' "
> files for bankruptcy

PostRe: 50 Cent is bankrupt by **Cumberdanes** » Tue Jul 14, 2015 11:53 am

Dan. wrote:> "get rich or die tryin' "
> files for bankruptcy

Well he knows what he needs to do next at least.

PostRe: 50 Cent is bankrupt by **Preezy** » Tue Jul 14, 2015 12:02 pm

He's still got all of his money, this is a non-story.

PostRe: 50 Cent is bankrupt by **CuriousOyster** » Tue Jul 14, 2015 12:25 pm

As said it will be to protect his money and not pay since he also owes a headphone company a wad after losing a $17m suit as well as this. Forbes put his worth at $155m in May so I think he will be just fine...

PostRe: 50 Cent is bankrupt by **Tomous** » Tue Jul 14, 2015 12:25 pm

His net worth is in the hundreds of millions and he's trying to get out of paying a $3m settlement to a woman who's sex tape he added his own commentary to and uploaded online without her permission.

Kind of a dick move really.

50 Cent is bankrupt

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