Rapper and business mogul 50 Cent has filed for bankruptcy, a stunning financial turn considering his estimated net worth had been pegged at $155 million as recently as May.
The recording artist, who filed for bankruptcy under his real name of Curtis James Jackson II, did so in U.S. bankruptcy court in Connecticut. He listed his estimated assets between $10 million to $50 million, with liabilities in the same range. Those figures call earlier estimates into question.
The only downside of this is that rich people somehow never end up on the street when they declare bankruptcy, but the average person is left with what, $1,500 worth of possessions, the rest sold to pay creditors?
You know twitter users couldn’t resist in getting in some shots on the rich man, poor man rapper:
CNN played 50 cent’s ‘I get money’ song as they were reporting his bankruptcy. 😂😭
— Flacko (@NamaanYe) July 14, 2015
Curtis Jackson a.k.a 50 cent just changed his name to 2 bits and a haircut after declaring bankruptcy — DupreeNation ★彡 (@WayneDupreeShow) July 14, 2015
Rapper 50 cent filed for bankruptcy. Apparently that’s all he has left to his name.
— Judi Gilmartin (@momma_judi) July 14, 2015
— Phil Viles (@philviles) July 14, 2015
Many feel this is a strategic move to get out of paying the court judgement as he was recently sued after posting a sex tape online.
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H/T – YouTube