50 Cent ProfileIn the limelight in recent days for his involvement in a sex tape lawsuit, 50 Cent (also known as Curtis Jackson) has told the Manhattan Supreme Court that he filed for bankruptcy last week because he is not as wealthy as he appears.
As NY Daily News reports, Jackson's lawyer stated that the rapper is only worth about US$3.7 million, despite the fact that he owes the woman who filed the lawsuit US$5 million.
When asked about the diamonds, expensive suits, gold chains and luxury supercars littered all across his social media, Jackson said, "It's entertainment."
When the court asked about the Rolls Royce he bought on 4 July "on a whim", Jackson explained he traded in two other cars to buy it, but says the Bentley and Ferrari he posts about "were rented."
He also said "he borrowed" the 65-carat pinky ring he bragged about on Instagram — "65 carats? I don't think that's even possible."
50 Cent has had a fairly illustrious music career spanning 16 Billboard Music Awards and Grammys as well as 38 million record sales, but Jackson noted, "I make ten cents a record."
The woman's lawyer pressed the rapper on his multiple endorsement deals, acting career, record company and 21 bedroom mansion, implying he wasn't struggling with money as much as he was making out — Jackson admitted to throwing wads of bills at a Florida strip club after filing for bankruptcy last week, but said films like Spy and Southpaw he acted in only banked him around $100,000 each.
With these court appearances and media coverage on his bankruptcy, Jackson is worried about his personal brand, allegedly saying, "Now that I filed for bankruptcy, I'm not as cool as I was last week."
We looked at some of the other artists in the filed-for-bankruptcy camp last week — check it out here.
Images from Instagram: @50cent
