50 Cent Says That Any Other Good Businessperson Would File For Bankruptcy

Posted: Jul 14 2015, 5:36am CDT | by , in News | Latest Celebrity News


50 Cent says that any other good Businessperson Would file for Bankruptcy
Photo Credit: Getty Images

50 Cent has insisted he's just taking "precautions" by filing for bankruptcy.

The 40-year-old rapper - whose real name is Curtis Jackson - recently filed Chapter 11 bankruptcy protection and put in court papers to state he has assets and debts, which range between $10m and $50m, just days after a court ruled that the 'Candy Shop' hitmaker should pay $5 million to a woman who sued him in a sex tape case and he has now insisted that he's just taking "precautions" with the documentation.

Times are hard out here LMAO #EFFENVODKA #FRIGO #SMSAUDIO

A photo posted by 50 Cent (@50cent) on

50 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."

The 'In Da Club' star went on to insist his fans "shouldn't worry" as other wealthy stars, like Walt Disney and Donald Trump, filed for bankruptcy too, and it is simply a matter of "reorganising" his finances.

Speaking to E! News, 50 said: "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 got a decent legal team. You don't have to worry."

Only two months ago, Forbes estimated his net worth was around $155m.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.




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