The star lost a multi-million pound lawsuit and has now said he is taking ‘precautions’ by filing for bankruptcy
Rapper 50 Cent has never shied away from flaunting his lavish lifestyle all over his social media accounts.
The Candy Shop star recently filed for bankruptcy – prompting fans to ask how a star who just two months ago was estimated by Forbes to have a net worth of around $155million could have hit hard times.
Fiddy filed for bankruptcy three days after he was ordered to pay a woman £3.2million for leaking her sex tape.
A jury determined the rapper had intentionally acquired an X-rated video the woman made with her boyfriend, added himself as a crude commentator and posted it online without her permission to embarrass his rap rival Rick Ross.
“I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”
He continued: “Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganising your finances, but it does stop things from moving forward that you don’t want moving forward.”
Take a look at some of 50’s flashiest snaps in the gallery below.
50 Cent poses next to a flashy plane
The artist, real name Curtis James Jackson III, issued papers in the US Bankruptcy Court in Hartford, Connecticut yesterday.
TMZ reports the rapper claims that his assets are valued between $10 million and $50 million but his debts amount are in the same range.
The hip hop heavyweight regularly posts snap to his official Instagram page showing him posing next to flashy sports cars, private planes, and with gold jewellery draped around his neck.
The In Da Club star has now spoken out to say filing for bankruptcy is a “precaution” because he didn’t want to “become a target”.
Fancy car, Fiddy
Speaking to E! News, 50 said: “I’m taking the precautions that any other good business person would take in this situation. You know when you’re successful and stuff, you become a target.
“I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”
He continued: “Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganising your finances, but it does stop things from moving forward that you don’t want moving forward.”
Take a look at some of 50’s flashiest snaps in the gallery below.
