Author Topic: 50 Cent files for bankruptcy (Read 7167 times)

BDsauce · « **on:** July 13, 2015, 09:27:43 AM »

Curtis Jackson, better known as rapper 50 Cent, filed for Chapter 11 bankruptcy protection on Monday.

"In court papers filed in the US Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million," The Wall Street Journal reports.
http://www.businessinsider.com/50-cent-files-for-bankruptcy-2015-7

King Shizzo · « **Reply #1 on:** July 13, 2015, 09:30:17 AM »

Net worth: 50 cents

thegamechanger · « **Reply #2 on:** July 13, 2015, 09:33:20 AM »

he had 140 million dollars last year
mustve bought something really expensive

pissant · « **Reply #3 on:** July 13, 2015, 09:36:16 AM »

You morons understand notning about buiness it's quite cute lol.

Yamcha · « **Reply #4 on:** July 13, 2015, 09:36:56 AM »

Quote from: pissant on July 13, 2015, 09:36:16 AM

You morons understand notning about buiness it's quite cute lol.

Hi 50!

El Diablo Blanco · « **Reply #5 on:** July 13, 2015, 09:38:02 AM »

Hahaha, went from a genius investment to a bad investment. Didn't he try to start his own headphone line to compete against Beats by Gay? Must have put all his money into it. He's just putting his biness in bankruptcy. Still has his regular cash sitting in HSBC Private bank Suisse

mazrim · « **Reply #6 on:** July 13, 2015, 09:38:33 AM »

He should stop trying to act.

Wiggs · « **Reply #7 on:** July 13, 2015, 09:38:55 AM »

What happened to his 100 million he made from Vitamin Water?
Dumbass. Gets what he deserves.

thegamechanger · « **Reply #8 on:** July 13, 2015, 09:40:32 AM »

he should start his own supplement line

50 cent 50 grams of protein 50 bucks

WalterWhite · « **Reply #9 on:** July 13, 2015, 09:40:36 AM »

He lost two court cases which explains this move.

"50 Cent is down for the count after losing a multi-million dollar lawsuit ... he's just declared bankruptcy.
TMZ has confirmed ... 50 filed for bankruptcy on Monday, 3 days after Rick Ross' baby mama won a $5 million jury verdict against him.
50 is in a world of financial hurt. A jury awarded Lavonia Leviston the $5 mil after determining the rapper intentionally leaked a sex tape in which she was featured, in order to embarrass Ross.
50 has been ordered to produce proof of income and worth so the jury can determine punitive damages.
According to the bankruptcy filing -- a story first reported by Page 6 -- 50 says his assets are valued between $10 and $50 million but his liabilities are also between the same range.
On top of that, 50 lost a court case in which a jury socked him with a $17.2 million judgment over ripping off a headphones design.
It's a breathtaking fall .. in May, Forbes estimated 50's net worth at $155 million."

pissant · « **Reply #10 on:** July 13, 2015, 09:40:43 AM »

God its incredible how stupid you guys are....do you guys even know how bankruptbankruptcy works and the loops holes?

thegamechanger · « **Reply #11 on:** July 13, 2015, 09:42:47 AM »

"bankruptbankruptcy" are you rapping?

TheGrinch · « **Reply #12 on:** July 13, 2015, 09:45:01 AM »

he filed for bankruptcy. so she won't get that $5m, nor any other damages this court will award her until she spends all of her money in 6 minute increments hiring her next set of lawyers to chase him through bankruptcy courts, where she will be listed as a creditor. This is what con artists do; they play the court system. she'll be lucky to get 10c on the dollar.

it's designed to bankrupt her, while protecting him

Wiggs · « **Reply #13 on:** July 13, 2015, 09:48:30 AM »

Quote from: pissant on July 13, 2015, 09:36:16 AM

You morons understand notning about buiness it's quite cute lol.

Yes, some of us do. He's doing it to protect his assetts and money from being sued by creditors. Still he's an idiot with his money.

pissant · « **Reply #14 on:** July 13, 2015, 09:58:24 AM »

Quote from: Wiggs on July 13, 2015, 09:48:30 AM

Yes, some of us do. He's doing it to protect his assetts and money from being sued by creditors. Still he's an idiot with his money.

Says the broke dude lol

Wiggs · « **Reply #15 on:** July 13, 2015, 10:01:21 AM »

Quote from: pissant on July 13, 2015, 09:58:24 AM

Says the broke dude lol

I'm not broke but I'm certainly not rich. The point was we know shit. You were wrong. Take your lick and piss off pissant.

BlackMetallic · « **Reply #16 on:** July 13, 2015, 10:04:09 AM »

What is bankrupt?

Owing 50 mil when you only got 10?

WalterWhite · « **Reply #17 on:** July 13, 2015, 10:41:24 AM »

Quote from: Wiggs on July 13, 2015, 09:48:30 AM

Yes, some of us do. He's doing it to protect his assetts and money from being sued by creditors. Still he's an idiot with his money.

Exactly. 22m owed and now he's reining it in.

Problem is it's much tougher to hide assets and that's why you are seeing huge divorce awards.

SF1900 · « **Reply #18 on:** July 13, 2015, 12:24:57 PM »

At one point, wasn't he worth close to $400 million, after invested and selling Vitamin water stock?

WalterWhite · « **Reply #19 on:** July 13, 2015, 02:20:02 PM »

He may have to sell his near 50K sq ft house.

The_Punisher · « **Reply #20 on:** July 13, 2015, 02:24:11 PM »

Quote from: pissant on July 13, 2015, 09:36:16 AM

You morons understand notning about buiness it's quite cute lol.

yes indeed....most on here probably think he's Broke..huh

Kwon_2 · « **Reply #21 on:** July 13, 2015, 02:57:56 PM »

50 cent never seemed to be a big spender.

wes · « **Reply #22 on:** July 13, 2015, 02:58:25 PM »

You can`t touch this!!

HTexan · « **Reply #23 on:** July 13, 2015, 03:02:56 PM »

only chapter 11 tho

2Thick · « **Reply #24 on:** July 13, 2015, 03:04:43 PM »

I'm shocked!

People don't file personal bankruptcy when they're doing well. The laws are very strict. It's not like he actually has hundreds of millions lying around anymore and is just trying to avoid paying $22 mil worth of judgements that he could easily pay. He obviously cannot pay these debts.

These "self-employed" types who can't handle their money usually also have lots of tax problems as well.

Storch, 50, who's next?