Curtis James Jackson III or known as 50 Cent, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court in Hartford, Connecticut last Monday, as reported by The Wall Street Journal. The article added that the official court documents had 50 Cent listing of his assests and debts are between $10 million and $50 million. However, the article did not mention if the $10 million are his assets while the $50 million are his debts or vice versa.
In a previous article from MTV, the rapper was ordered to pay Rick Ross' daughter's mother for $5 million after the release of a sex tape online.
However, in a more recent article from MTV, the rapper jokes about his bankruptcy. He also posted a picture of himself with a tiny car in his Instagram account with the caption, "Times are hard out here LMAO#EFFENVODKA #FRIGO #SMSAUDIO."
As mentioned in an article from E! Online, the rapper claims that he is taking precautions. He 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 bull's 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 reorganizing 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."
He also posted another picture in his Instagram account together with his friends with the caption, "I can't remember a year that I had this much fun. Just good energy every were I go. #EFFENVODKA #FRIGO#SMSAUDIO."
In addition, People reported that he appeared on "The Talk" Tuesday and said, "I'm fine. I'm just going through a little legal issues. I've got some trained professionals to help me with it. So, I will get past it." Also, the Mirror added that 50 Cent is not bothered by his financial status.
