Earlier this morning, The Washington Post reported that 50 Cent filed for Chapter 11 bankruptcy protection and, as always, Twitter has had plenty of jokes. Many people are assuming that he's flat broke—especially in light of a recent lawsuit where a jury ordered him to pay $5 million to a woman who sued over a sex tape that was posted without her permission. And his boxing promotions company, SMS Promotions, filed for Chapter 11 bankruptcy back in May. But that's probably not exactly the case. In the court docs, his assets and debts were each listed in the range of $10 million to $50 million—which automatically puts him into Chapter 11 territory based on the monetary amounts. Typically Chapter 11 bankruptcy simply means a reorganization of one's assets and debts—which isn't saying they haven't been poorly managed up until now for 50—but in light of the recent lawsuit against Lastonia Leviston, the mother of Rick Ross' child, this will give him some time to repay that $5 million.
As soon as I saw the headline, i knew it was some kind of ploy 50 was using so he wouldn't have to pay that 5 mill. You buggin if you think 50 will ever be broke. Dude has a street hustler's mindset with the savvy of an upper echelon businessman.
The day of the sex tape trial he had his boxing company SMS promotions file for bankruptcy 20 minutes before the case was set to begin in order to avoid the lawsuit which was denied because his boxing company started in 2012 and the sex tape leaked in 2009. Lastonia Leviston won her case on Friday against 50 for $5 million and would have won more in punitive damages this week. He filed for bankruptcy today to avoid paying his enemy's baby mother any money. Curtis Jackson will fake his own death before feeling like he has to give any funds to Rick Ross side
This is just a businessman playing the system lol. Do you know how much money Power is bringing in for him? Let alone all the earnings he has from Vitamin Water? How do people still continue to clown him over a story he's probably laughing at right now
Earlier this morning, The Washington Post reported that 50 Cent filed for Chapter 11 bankruptcy protection and, as always, Twitter has had plenty of jokes. Many people are assuming that he's flat broke—especially in light of a recent lawsuit where a jury ordered him to pay $5 million to a woman who sued over a sex tape that was posted without her permission. And his boxing promotions company, SMS Promotions, filed for Chapter 11 bankruptcy back in May. But that's probably not exactly the case. In the court docs, his assets and debts were each listed in the range of $10 million to $50 million—which automatically puts him into Chapter 11 territory based on the monetary amounts. Typically Chapter 11 bankruptcy simply means a reorganization of one's assets and debts—which isn't saying they haven't been poorly managed up until now for 50—but in light of the recent lawsuit against Lastonia Leviston, the mother of Rick Ross' child, this will give him some time to repay that $5 million.
What if the Greeks are doing this?
This was the smartest shit you guys uploaded
As soon as I saw the headline, i knew it was some kind of ploy 50 was using so he wouldn't have to pay that 5 mill. You buggin if you think 50 will ever be broke. Dude has a street hustler's mindset with the savvy of an upper echelon businessman.
Lol. 50 cent is just hustling the system. He got bored of the "old fashioned" Hustling.
"Many men, wish bankrupcy on me"
-50 Cent
Tyga take notes on how to flip an L
50 cent is just racking in these W's
I'm convinced fif couldn't take a L even if he tried. Tyga, take notes.
Damn even when 50 takes an L he gets a W
Lmao 50 out here disguising a W as an L, one of the smartest rappers turned business men out there for sure.
Dam hopefully his net worth don't go down to 50 cents
The day of the sex tape trial he had his boxing company SMS promotions file for bankruptcy 20 minutes before the case was set to begin in order to avoid the lawsuit which was denied because his boxing company started in 2012 and the sex tape leaked in 2009. Lastonia Leviston won her case on Friday against 50 for $5 million and would have won more in punitive damages this week. He filed for bankruptcy today to avoid paying his enemy's baby mother any money. Curtis Jackson will fake his own death before feeling like he has to give any funds to Rick Ross side
Anyone who is calling him broke is either dumb or didn't watch the whole video
More like 0 Cent AM I RIGHT?!?!
Ok I'll leave
Emily took her rat for a walk after making this video
People defend and act like if 50 puts food on their table… Fucking idiots !!!
This is just a businessman playing the system lol. Do you know how much money Power is bringing in for him? Let alone all the earnings he has from Vitamin Water? How do people still continue to clown him over a story he's probably laughing at right now
Damn Homie What the fuck happened to you! Like Why go Through All that makes you look bad why not just pay it ?
50 cent is broke? What's next? Lil Wayne is straight?