Rapper 50 Cent recently filed for bankruptcy following an expensive court decision ruling against him. Last week Fiddy was ordered to pay $5 million to Rick Ross‘ ex-girlfriend Lavonia Leviston for emotional distress after he published a sex tape of her on YouTube.
50 Cent (real name Curtis Jackson) submitted the Connecticut Chapter 11 bankruptcy file on Monday but downplayed the move when talking to E! News, ‘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.’
This move appears contradictory to an assessment by Forbes Magazine in May which estimated the rapper’s worth at $155 million. The bankruptcy papers cited the ‘Candy Shop’ star to have assets worth $10 to $50 million and $10 to $50 million in liabilities.
There is speculation this is part of a chess-game battle with the courts over his recent legal troubles. He goes on to state, ‘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.’
