What exactly happened with 50 Cent?

[Theonlydjorkaeff]

Kidd Kidd probably had a heart attack when he first read '50 Cent declares bankruptcy'

and young buck! and tony yayo! I think Banks is straight tho

[Lucifer]

[Flame Beats]

Kidd Kidd probably had a heart attack when he first read '50 Cent declares bankruptcy'

He's probably still mad about not being credited for his mediocre verse on Mrs. Officer too.

[bickenback]

Compared to what he was worth before, yes 50 Cent is bascially broke. He listed his assets between $10-50M, so he's worth far less than $155M that Forbes thought. Now he also listed his debts between $10-50M and we know for a fact that he has at least $22M in debts from two lawsuits combined, so if we assume that he has assets of $50M and $22M in debts, that's a net worth of $28M - but it's likely less than that. We'll know for sure within about 14 days when he has to detail his assets and debts in court.

Why did he file for bankruptcy? Because he doesn't have the cash to pay his debts without outright liquidating most of his assets, which would take a lot of time and jeopardize his future earnings, so he's buying himself time to come up with a payment plan.

The fact is, 50 Cent has grossly mismanaged his finances and lost at least $100M+.

[WeEeEeEzZzZyYy]

Compared to what he was worth before, yes 50 Cent is bascially broke. He listed his assets between $10-50M, so he's worth far less than $155M that Forbes thought. Now he also listed his debts between $10-50M and we know for a fact that he has at least $22M in debts from two lawsuits combined, so if we assume that he has assets of $50M and $22M in debts, that's a net worth of $28M - but it's likely less than that. We'll know for sure within about 14 days when he has to detail his assets and debts in court.

Why did he file for bankruptcy? Because he doesn't have the cash to pay his debts without outright liquidating most of his assets, which would take a lot of time and jeopardize his future earnings, so he's buying himself time to come up with a payment plan.

The fact is, 50 Cent has grossly mismanaged his finances and lost at least $100M+.

you always know your shit