50 Cent, real name Curtis Jackson, has filed for bankruptcy and while some people went into meltdown, others , including the main man himself don't feel the need to worry.
The bankruptcy filing follows last week's court order to the rapper to pay $5 million to Lavonia Leviston on the grounds of emotional distress after publishing a sex tape of her on YouTube that he bought from without her permission.
Speaking to E! News Jackson said:
I'm taking the precautions that any other good businessperson 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.
It was reported as recently as May by Forbes that the rapper had a net worth of $155 million but in filing for Chapter 11 bankruptcy he claimed he had between $10 to $50 million in assets and the same in liabilities.
But 50 Cent was quick to reassure those worried for his lack of finances that he will be fine.
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. I gotta decent legal team. You don't have to worry.
According to the petition, 50 Cent holds primarily consumer debts, which are debts “incurred by an individual primarily for a personal, family or household purpose”.
As with anything celebrity related, twitter went into overdrive.
Some kind soul explained the meaning of Chapter 11 bankruptcy in his own terms:
While most just made predictable but still brilliant jokes:
Someone who isn't 50 Cent - "Penny for your thoughts?"
50 Cent - "Can't help you."
God Bless! Get home safe!— Jim Norton (@JimNorton) July 13, 2015
50 cent going bankrupt makes no cents to me
— Lux (@Callux) July 13, 2015
It's mental that 50 Cent is bankrupt. He's always been so careful with his savings. pic.twitter.com/CrLgWAwVhs
— The Dolphin Pub (@The_Dolphin_Pub) July 13, 2015
The inevitable candy shop jokes soon rose their head:
Some had this clever idea:
Sad, but maybe the name #50Cent was a self fulfilling prophecy? As of today I'm changing my name to $17,632,945. We'll see how it works out.
— Eric Lange (@MrEricLange) July 14, 2015
And others got creative:
Hat-Tip: Independent.ie
Tags:
