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Get Rich Or Go Broke Trying: Rapper 50 Cent Files For Bankruptcy
In January, Curtis Jackson, aka 50-Cent, appeared on CNBC proclaimed as a multi-platinum rapper, and also a successful entrepreneur with a range of businesses. Just six months later he is broke, as WSJ reports, he filed for chaper 11 bankruptcy protection today. Court papers (below) show the rapper's assets and debt in the range of $10 to $50 million (after WaPo reported his net worth "at nearly half a billion dollars" in 2007). The bankruptcy filing comes just days after a jury directed Jackson to pay $5 million to the ex-girlfriend of a rap-rival over a sex-tape.
As The Wall Street Journal reports,
Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday.
In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.
The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday.
The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported.
50 Cent insists that his rival, rapper Rick Ross, is the culprit, but Lastonia Leviston, 36, says Jackson posted the video in 2009 to taunt Ross because he knew that Ross is the father of her child. She said the fact that it got 4 million viewers made her deeply depressed and suicidal.
To summarize:
Rapper A, worth nine figures, gets sued by a the ex-girlfriend of rapper B, who rapper A used to make fun of for not having as much money as him.
Since then rapper B has gotten a whole lot richer but still not as rich as rapper A who now claims he's broke so he doesn't have to pay rapper B's ex $5 million.
Only in America.
Finally - from 50 Cent's Instagram last night...
Full Bankruptcy filing below...
* * *
One final thought... when does Greece unleash its own sex tape and use that as an excuse to extricate itself from an uncomfortable due payment?
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Why welfare doesn't work....you can give black people anything and they will squander it away
WHO!?
I don't get this rap shit.
And don't want to.
I hope it doesn’t cause a contagion in our exceptional economy ;-)
Looney
i wonder if his shell companies in bermuda and british virgin islands also are filing for bankruptcy?
no fucking way he's going bankrupt for real. he cashed out of that moronically named "vitamin water" to the tune of - what - $150m just a few years ago. and that's just one of his deals.
Good! Happy to see these talentless pieces of shit go broke... next up the liEberal Hollywood elite! Piss on 'em!
Too many to list all of the black and bankrupt Heisman Trophy winners, but there is definitely a trend...
Nearing the end of a season that could be his last in pro football, and in the midst of personal bankruptcy proceedings, Archie Griffin remembered a bittersweet moment.
http://www.nytimes.com/1982/01/07/sports/griffin-s-days-of-glory-are-fad...
When Billy Sims retired from the Lions in 1984, he received a $1.9 million insurance settlement from Lloyds of London, in addition to the several million dollars he earned during his playing career.[12] Sims lost his accumulated wealth through a series of failed business ventures, and he was forced to file bankruptcy in 1990. His numerous businesses included a nightclub, a radio station, a dry cleaner, and a car parts manufacturer. The bankruptcy eventually led to the end of his first marriage to Brenda, a junior high teacher in Hooks, Texas.[13] Sims also struggled with legal problems stemming from jail time for unpaid child support in 1998, and a conviction of domestic violence against Edna, his second wife in 1999.[13]
https://en.wikipedia.org/wiki/Billy_Sims
Just seven years after signing a mega-$26 million contract with the NFL’s Tennessee Titans, former star quarterback Vince Young (pictured) has reportedly filed for Chapter 11 bankruptcy, according to the Houston Chronicle.
http://newsone.com/2847223/vince-young-bankrupt/
The wealthy are going to bankrupt us all, wake up serfs...
http://galeinnes.blogspot.com/2015/07/the-3-profiteers.html
CD sales figures for rap artists are mostly just made up figures self reported by the artists themselves. Record industry figures are sometimes one tenth of the sales numbers the artists claim.
Nicki Minaj - Lookin Ass Nigga
https://youtu.be/2mwNbTL3pOs
Great line:
"Boost Mobile-ass niggah"
ROFL
Yes, that's genius.
PS - what does it mean?
I listened to it just now. Don't like her vocals, but...
She is actually saying she is sick of black men who front, abuse, and try to deceive. She has her own, she don't have time for, or need them. They can't have her and she's letting them know it, calling them all out on it.
She is exploiting them for wanting to exploit her.
Smart song if you feel the way she does.
Oh yeah, she's real smart. She gets invited by Madonna to be in the Superbowl halftime show, and flips off America to gain enough notoriety to become a pop culture fat ass diva.
She can go to hell for flipping me off
I think you are confusing her with the similar sounding named M.I.A. the demi negro Asian Indian has been.
http://cdn.smosh.com/sites/default/files/bloguploads/mia-flip-1.jpg
And hasn't her career taken off since then.
Billy Simms has a very sucessful chain of BBQ resturaunts in OK, TX, MO, KS, AR and MI.
Wikipedia, LOL
Go, go, go, go Waylon, iss yer bert day
there isn't a chance this is on the level. no way.
Real black talent: Muddy Waters, Howlin' Wolf, BB King.
Neil DeGrasse Tyson ftw.
The Stones Got Much Of Their Mojo From Him...
Robert Johnson
Singer
WIKI: Robert Leroy Johnson was an American singer-songwriter and musician. His landmark recordings in 1936 and 1937 display a combination of singing, guitar skills, and songwriting talent that has influenced later generations of musicians. Wikipedia
Born: May 8, 1911, Hazlehurst, Mississippi, United States
Died: August 16, 1938, Greenwood, Mississippi, United States
Of Course He Died At 27 !!!!!!!
I found an R. Crumb designed Robert Johnson T-shirt on the web. It's pretty cool...Hellhound on my Trail...
Ah, the negro astronomer famous for being a negro astronomers. Like Hawkings is famous for being a cripple.
How could you leave out:
Louis Armstrong?
https://www.youtube.com/watch?v=E2VCwBzGdPM
Nat King Cole?
https://www.youtube.com/watch?v=Fy_JRGjc1To
Ray Charles?
https://www.youtube.com/watch?v=V6RY2OY84Bg
Stevie Wonder?
https://www.youtube.com/watch?v=8r92A7ndnZk
John Coltrane? Charlie Parker? Miles Davis? Jimi Hendrix?
Gucci Mane
Lots of great black talent, but most of them are dead now. Anything labelled rap, hiphop, house, etc. pure unadultered trash with an extremely negative social message. Well, I give the old Kurtis Blow a pass as he was an actual musician. Today it's just electronic keyboards with thousands of digital riffs in memory.
R.I.P. JAMES BROWN
RIP Rick James
Nice Kurtis Blow reference
Don't forget RICK JAMES, bitchez!
https://www.youtube.com/watch?v=1dNIQVYGXbM
Well, he did buy Mike Tyson's ol mansion in avon. Quite a nice view from there. Probably aint worth the 20 or so million he paid for it though.
He invested in Vitamin Water, they even made a flavor with his name, then Coke bought the brand, and he made out good on his investment. What's wrong with that?
Haha this is funny, I was having an argument the other day about how Floyd mayweather would die poor, and my friends I was with all said 'no way, he's worth like 500 mil' and I said it could be a billion dollars, it doesn't matter. Give people like this money and they will blow it, no matter what. It's the hood eat genes. I'll have to show them this.
MC Hammer also went bust. hard to believe after they were paid millions, eh.
Has to be caused by the Confederate Flag.
I mean, what other logical explanation can it be?
Mayweather MAY die rich, but he can't read, and he is really short. So...
If he can't read, he won't die rich.
"Here, just sign this."
I just wonder if he's ever heard of those magical creatures called accountants and I assume he's paid ALL his taxes.....
These low-brow morons are allowed to dump all this debt and skate away with all the assets they surely have hidden away. But a huge mass of good-intentioned, all-american kids, naively thinking they can work hard to get ahead, are saddled with undischargable debt in the form of student loans that will be a yoke around their neck until the day the die.
These low-brow morons are allowed to dump all this debt and skate away with all the assets they surely have hidden away. But a huge mass of good-intentioned, all-american kids, naively thinking they can work hard to get ahead, are saddled with undischargable debt in the form of student loans that will be a yoke around their neck until the day the die.
Not even a nickel-back.
It's fitty sent...
Not even a silver-clad 40% fifty cent... just a copper-nickel POS....
FIFY No Sense?
RIPS
now zero cent
and zero sense
that's the way the music industry Khazar pimps like their ho's.
It's Chapta Elevin now.
I'm glad ZH saw fit to run this important story.
Drink Bacardi like ish yer berfday...
50 Cent, sell your stuff to M & M fo 10 cent on the dollah .... he white boy .... know how to save !
It was probably cheaper to file for bankruptcy and force a cents on the dollar settlement on the 5 million dollar jury award than to file an appeal and lose. Bankruptcy can always be withdrawn prior to the final ruling.
Update: Per the Daily Mall, the jury will return next week after reviewing 50 cents assets to decide punitive damages....They also wanted to review his financial records to determine his true net worth before deciding on the amount of the punitive award. Some suggested 20 million. Wow, sounds like a financial rape in progress.
He had no choice but to file for bankruptcy to get rid of these jackals and make his true financial status off limits.
Absolute Priority Rule
(let alone a section 523 objection to discharge)
Perhaps anyone on welfare will squander? All races have the squander gene, sidewinder, you buffoon.
I'm as white as they come, but I can't manage money either.
Ain't just a race thing, I know loads of white people who are as bad or worse than me.
It's disheartening, let me tell you...
It's not rocket science. Only get into debt if that debt enables you to boost your income (or save money) to the point that you can pay it off in a sensible amount of time.
Student debt for a degree that will make you more employable at a much higher rate? OK.
Student debt to learn, oh, I don't know, Women's Studies? Not so much.
Getting a mortgage to buy a modest home when doing so is cheaper than paying rent, and house prices are not absurdly high? Good.
Getting a mortgage to buy a McMansion and house prices are at all time highs? Not so much.
Getting into debt to pay for car repairs so you can get to work? OK.
Getting into debt to pay for a dream vacation to Vegas? Not so much.
See? Is it that hard?
You make alot of Cents, Big Jim.
its called,
1-Open your mail
2-pay the bills
3-enjoy not having shit hanging over your head
If you're halfway to #2 and you realize that you spent too much money already on partying or things of no value, Check Your Head, and priorities
Nothing new under the sun. Check pro sports
Welfare for white people works better? Donald trump filed how many tiimes. Lost count.
Hmmm...not enough 50 cents? I got a few.
Anyone else for a crowd fund?
You might even get a nickleback.
I'm sure Tsipras can help ...
And he throws like a girl.
Throws like a girl who has been given 5 Quaaludes and spun in a circle 20 times.
https://www.youtube.com/watch?v=83FHj53QBHY
"and his first pitch was..........not great."
Another person I do not give a fuck about.
exactly.
now can we have a Kardashian story please....
really?
Castrate Jenner too!
but we should....bc even guys who hit it HUGE are now our responsibility (financially)...the tidal wave of dependents now includes guys who grossed $500MM+
Aptly named, now.
life immitates art.....he's worth his name....50 cents.
Surely it's just a liquidity issue. He gonna need more vitamin water.
http://www.celebritynetworth.com/articles/entertainment-articles/how-muc...
This is his way of not paying that $5 million judgement against him. He better make sure the bankruptcy courts don't find those corporations and LLC's that he's linked to. If they do, he'll be looking at federal time for bankruptcy fraud. If he doesn't have any assets other than what he's declared, he's not as smart as I thought he was.
You thought he was smart????
That right there says a lot about your level of intelligence.
"4 million viewers made her deeply depressed and suicidal."
What if it had gotten 4 viewers?
"What's the term? It's not African-American rich.. "
-Martha Stewart
https://vine.co/v/OlIMKapE2K1
my understanding is its a small 1 of his companies he owns & not a personal bankruptcy filing. i could be wrong, but i have a hard time believing he's broke. guy is a smart businessman - he and david wright didn't take the 1-time payout bait on the vitamin water deal (got shares, made a boatload), had several giagantic albums, world tours, businesses, etc.
in order for him to file personal bankruptcy, he'd have to go mc hammer on steriods. JMO but i don't see it. would be ironic if it were true that the guy who bought mike tyson's estate files bankruptcy.
Above: "Type of debtor"
Personal/Individual
In the rapper world, nightclubs and stripper joints are the banks.
Dovie'andi se tovya sagain (It's time to toss the dice)
Got Karatbars?
Hey 50cent, don't worry . Ill offer you $20 for each gold toof, and since your a little short I will provide the pliers and whiskey. I also have some mini confederate flags to use as gauze to stop the bleeding Hope this will help.
Your friend in need-- Cow
TOOF made me LOL! Thanks, Man!
Instead of trying to do something risky with his money like invest in a profitable businesses venture he should have just bought the Russell 2000 Index and kicked back.
Good.
I dis-liked him a little bit more than those waste of time kardashians who i F*KN hate.
Whew! I'm glad you didn't dis Jason Beeper.
You don't know what you had or have, till you lose it.
he ought to come out with some shitty headphones like Dr. Dre.
Some made in China bullshit, he can clean up.
Typical for this lot.
If you're a rich black rapper (or sportsman) don't worry about the tarts, shyster jewellers and car salesmen ripping you off, they're all small fry.
The real damage will be done by the good ol' white guys, lawyers, accountants and the ever stream of brokers with 'hot, can't lose' investment ideas.
Many of them will come from VERY prestigious firms with the poor naive black man, sorry coloured (or should we call them something else now, I lose track) thinking 'they don't rip people off like my bruthas in the hood'. Think again my friend, think again because they'll play you like a fiddle until what's yours is theirs
I bet there were some KIKE roach agents that got rich off of this Negroes C(rap).
Ask Little Richard
They get ripped worse .... by their black brothers and sisters .... and their own stupid selves .... don't play the Greek victim card !
Yep, it's all evil whitey at fault for why so many black people lack the ability of self restraint and control and basic intelligence. It's always whitey and never any responsibility of black people.
The bankers are just trying to grab some of that bling before the said rich rapper (or sportsman) loses every cent on crack, ho's (or crackho's even), gambling, cars, parties, etc.
Get Rich or Die Tryin'? Well, Curtis...Your number is up.
I bet there were some KIKE roach agents that got rich off of this Negroes C(rap).
This is just legal trickery. Or should I say, "drama" which has spilled over into the legal system. The judge should throw them both the fuck out of his courtroom, and give them a couple of Glocks and let them work out the differences like the jungle bunnies they are.
Jungle bunnies?? thats quite derogatory. Its SPEARCHUCKERS!!
Curtis James Jackson III
Not quite the same as say Cornelius Vanderbilt III is it?
A worse curse could have not befallen the American Black than 'rap music', because it takes the already ingrained stereotypes of Blacks and amplifies them 10-fold.
Well, it helps them celebrate their own self-destruction...
Anyone here old enough to remember the Sugar Hill Gang and their groundbreaking song "Rappers Delight"?
Could anyone who first heard (and maybe liked) that song have imagined what rap music would become lyrically, financialy, or how the themes and lyrics would morph from "I'm the best DJ" to "when you niggas gonna unite and kill the police motherfuckers"?
The macaroni's soggy, the peas are mushed, and the chicken tastes like wood!
I think rap and music in general today sounds very disharmonious. It's a cacophony of jumbled sounds. I believe it's done on purpose to disrupt the cognitive ablities of people especially children. I know how that sounds but there are studies on the effects of sound frequencies and vibration on matter and I can't imagine today's shit music having a positive effect.
https://www.youtube.com/watch?v=tAvzsjcBtx8
Blacks and Greeks .... don't like to pay taxes .... that's one thing .... I actually like about them !
And people wonder why CNBS only has 50-100 airport lounge viewers.
Are you trying to be my friend ? LOL
"Get rich or die trying". Well, so why is he still alive then?
Reminds me of reading those stories about trailer house people who win the lottery for millions...ten years later completely broke, back in a trailer or dead from an overdose.
Human nature, I guess.
wait what? poor white people can't handle money either? hmm. Come to think of it Elvis didn't end up so well either...
It really has to do with being frugal and knowin gsome personal finance, which i actaully did not learn until later in life. I think they should bring back those "Home Economics" courses and maybe offer "Personal Finance" in HS. I htink it would be well worth it not only for that studen tbut society as a whole since the morons behind th ecash registers migth once again be able to subtract 8 cents from $1.05 and similar basic math.
He probably still has his money ...especially if he followed Biggies' 10 crack commandments:
http://youtu.be/ZYb_8MM1tGQ
" if not , 24 years on the wake up..."
Sure would be fun blowing through $50,000,000 before reaching 40 years old.
If you having bankruptcy problems I feel bad for you son...
He got 99 problems, and bankruptcy is number one..
Sex tapes is how Greece got funded, look at Denny Hastert and the Republican budgets he passed
Gonna have to hire a lawyer to rap for him.
The commenters attempting to make this a race thing are morons.
Take a look at where the vast majority of poor white people who have hit the lottery ended up.
The issue is socioeconomic, not racial.
A fool and his money are soon parted
Oprah says ''I don't want nothing to do with niggas''
Didn't FITTYSENT make that hugely popular love song ''Going to bash your head in , HO, and fuck you in the ass''?
Yes, that's the one which made him a star and made him rich !
Gorillaz rule!
It is amazing how bad so many black celebrities are with money. Pretty sad that black celebrities need to basically have an allowance so they don't go broke.
50 Cent used to amke a shitload of cash a year. I think at one point he was pulling down 20+ il a year. Pathetic to see this and all these blackies like him are an insult to the majority of humans who are just trying to scrape by paycheck to paycheck.
Their Jew agents laugh all the way to the bank.
Ask Little Richard.
It might have something to do with the Bell Curve, time preferences, and intelligence vs elevated testosterone and poor impulse control?
No that would be racist. Facts are VERBOTEN when discussing anything black.
Clearly this a heinous case of white racism that caused this, just as it causes every other act of black foolishness, and old 50cent here is just a victim of the racist patriarchy.
Get with the program man!
Need to treat them like spoiled children and control their allowance.
Are you serious? No one said it yet?
fitty-cent now worth $0.50 ... yuk yuk yuk
Thats 4 bits for a no talent , shit for brains NIGGA. Real Black musicians (jazz musicians) shun these niggas.
Somewhere, somebody looked at Fiddy's picture and/or heard some of his work, and thought "NO TALENT ASS-CLOWN".
needs to change his name to no Cents.. pun intended
So his name is a reflection of his net worth after all?
He will change name to half dollar so he would sound richer.
Now here is a real black musician
What is Hip??
https://www.youtube.com/watch?v=k0XbH_qMXso
Great bass player, but the original was far better:
https://www.youtube.com/watch?v=oAatPPEaZDA
I like the original also
Tower of Power, baby... https://www.youtube.com/watch?v=iuKPR3ow9QE
now I'm gonna have to unlike him on my fakebook page!
50 cent has been pimped of his assets. Perhaps he may seek a financial bailout package with the IMF. Or consult with Greece to sell all of his song royalty privileges to retain physical possession of ass crack baggy jeans and Hanes wife beater t-shirt.
/lol
Not a surprise. He hasn't had a record in the top 100 in years and his lifestyle is such that he's still a #1 selling artist. His burn rate is like a Sillycon Valley start up.
I'm gonna ask him to join me in Karatbars International... he'll be back on his feet before i get 5 down arrows.....
www.teamramgold.com for those looking for a better way
You'll need to buy his repackaged debt obligations before team ram rod can use his trademark name.
If that photo doesn't tell you we're at the end of empire, nothing will.
Typical, most times when you "sign here" for a record deal the producers and every other person in the chain of command gets a cut. The Studio's let you live in their mansions... for as long as you're makin' hits. When you fall from grace typically your "friends" vanish and you're stuck with the tax bill.
It's another one of Obama's son's caught up in wealth redistribution.
Idiots like this haven't read a story that didn't need an "Obama...." mentioned somewhere in the comments. Methinks a new psychological disorder should be named for this type of comment. How about OOCD (Obama Obsessive Compulsive Disorder)?
2 more REAL black musicians
https://www.youtube.com/watch?v=IJJAb1Tr8-o
Would never had four bits to rub together if it wasn't for all those priveledged, suburban, white kids buying his stupid, profanity and fornication filled open sewer CD's.
War on Women? Curtis Jackson.
So what? If it wasnt for the sun we would all have never existed. See, you are not the only one who can point at facts that, while being true, are absolutely irrelevant.
Ok there, waste of plasma.
3 black muscians who actually play MUSIC and are NOT broke
https://www.youtube.com/watch?v=a83PxvWy-ec
Supposedly he made $400m when Vitamin Water was sold to Coca Cola
Now he can start from the bottom again write a new rap song about being a loser.
TURN IT UP BITCHEZ!!
https://www.youtube.com/watch?v=GllEDACUbNo&list=PLOtHap_qwlUjhnk-aR-X-I...
That pesky Confederate Battle Flag always keepin a brotha down.
Dig on Tal Wilkenfeld. hot new bass player
https://www.youtube.com/watch?v=slBB10vhVaU
https://www.youtube.com/watch?v=HC2hrHg9yXk&list=RDHC2hrHg9yXk#t=20
Allowances have been reduced to zero so now their musical bafoons such as T.Swift, eM&M and $0.5 selling out to corporations to be used, abuse and discard or go bankrupt.THERE IS NO RECOVERY STUPID AMONG POPULATION. JayZ is next and avalanche to follow what symphony orchestras already went through, total collapse. First you mess up young peoples minds for profit and propaganda of gluttony so much they they turned into broke mindless zombies, who do not give a shit about you "artists" as much as about their own lives and future.
I see teenagers running walking, talking no mall cruising or hanging out. no more artistic BS and greed. return to where you are belong namely cheap Clown Theater to amuse the stupid. And that's a good thing.
Word on the street is he changing his name from "50¢" to "Ain't Worth Shit".
You silly Americans...everything is all about race. This could happen to anybody and already has. Rappers suck managing their cash...i'm shocked!