50 Cent files for Bankruptcy, Twitter goes beserk

Posted at July 15th, 2015 | by Sidhantha Jain | in

He can’t even afford an Eminem! That’s Ludicrous.”

 

Curtis James Jackson III better known by his stage name, 50 Cent, filed for Chapter 11 bankruptcy on Monday, just three days after the rapper was ordered to pay $5 million to Lastonia Leviston. The case traces back to 2010, when the latter mentioned sued him in the New York state court, accusing him of posting some sexually explicit material and seeking compensation for the unauthorized use of her image causing her emotional distress.

 

Leviston mentioned, the sex-tape which she had made with her then boyfriend in 2008, was meant to be private. The boyfriend allegedly transferred or sold the 13 minute video to 50 Cent which he edited, added narration and made explicit remarks about Leviston and rapper Rick Ross, who has a daughter with her. At the time, Ross and 50 Cent were engaged in a fairly public feud. The video caught attention when it was circulated on the Internet titled as “Pimpin’ Curly”. Fiddy denied uploading it himself, despite it had made an appearance on his ‘thisis50.com’ website.

 

As per the Wall Street Journal, the “Get Rich or Die Tryin’” artist has assets and debts each in the range of $10 million to $50 million in line with the court papers filed in the U.S. Bankruptcy Court by him. Albeit, this filing for personal bankruptcy protection permits the “Candy Shop” artist to continue his involvement with his current business interests and still work as an entertainer.

 

But wait a second, all this doesn’t seem to make any sense. Is he broke-broke? Or is he rich-people broke? We’re confused at multiple levels, what about his million dollar 52,000 sq ft. mansion in London? What happened to the $100 million he received after he sold Vitaminwater to Coca-Cola in 2007? And what’s with his music, partnership with Effen Vodka, SMS headphones and stake in Frigo underwear?

 

Well, we’ll know more as the case unfolds further. But in the meanwhile, Twitter has gone berserk over his ‘a strategic move’!

 

Here’s a collection of some of the most hilarious tweets:

 

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  e9

 

  It doesn’t appear that 50 Cent is too bothered by his financial status, as he declared that it’s been his best year ever.

 

 

Even though he may have declared himself cashless but at least he can have a laugh about it. Take a look:

 

 

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

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

 

 

In May, Forbes reported that Jackson was worth an estimated $155 million. The timing of Jackson’s bankruptcy application is the fueling speculation as he might have filed for bankruptcy to avoid paying the judgment.

 

What’s your opinion? Let us know in the comments below!

Sidhantha Jain

I love EDM, it loves me back. It pays for my food bills.

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