50 cent files for bankruptcy
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PMoneyQueenz wrote: »A few years from now Effen Vodka will be worth a few hundred mill. Power will be even more successful and SMS audio will continue to sell well. Not to mention SK energy shots and Frigo...
50 could make a $100 mill by then. He will be back
50 doesnt own effen vodka, nor does he own sms audio because its prob not his money and as for the power show he has to pay the actors, production and who knows what if he actually owns it which he prob doesnt.
He is just the face.
When are you gonna wake up show business is not real. He is a celebrity and a fading one.
He tried to go independent with the music and failed because obviously he needs to do his own thing.
He tried to do the boxing thing and use floyd and floyd smartened up. That failed too.
All these forbes lists are ? .
He filed for bankruptcy because he cant pay his debts its as simple as that....
He is in trouble and his ? is crumbling.
It happens to all musicians and actors at some point.
Look to history.
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You're naive or denseSweat jones wrote: »PMoneyQueenz wrote: »A few years from now Effen Vodka will be worth a few hundred mill. Power will be even more successful and SMS audio will continue to sell well. Not to mention SK energy shots and Frigo...
50 could make a $100 mill by then. He will be back
50 doesnt own effen vodka, nor does he own sms audio because its prob not his money and as for the power show he has to pay the actors, production and who knows what if he actually owns it which he prob doesnt.
He is just the face.
When are you gonna wake up show business is not real. He is a celebrity and a fading one.
He tried to go independent with the music and failed because obviously he needs to do his own thing.
He tried to do the boxing thing and use floyd and floyd smartened up. That failed too.
All these forbes lists are ? .
He filed for bankruptcy because he cant pay his debts its as simple as that....
He is in trouble and his ? is crumbling.
It happens to all musicians and actors at some point.
Look to history.
Everybody pretty much gets he doing this for strategy and you Jst typed this big dumb essay for no reason ?
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dunno if i should put gee on ignore or use him to practice this buddhist type of acceptance
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Probably still has more money than a lot of us.
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There is a video on the internet of him making remarks about bankruptcy in the event of something like this. However, let's not forget that a judge has to approve his bankruptcy, which I don't think a judge will actually approve. All 50 is doing is prolonging the process of the judgement, which will be accounting for more than 5 million when the judge adds punitive damages to the 5 million dollar amount during the next court date. 50 isn't as smart as you all think he is, nor is he as rich as you all think he is. However, for someone who has not had a hit record since '04 he's doing ok.
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Sweat jones wrote: »PMoneyQueenz wrote: »A few years from now Effen Vodka will be worth a few hundred mill. Power will be even more successful and SMS audio will continue to sell well. Not to mention SK energy shots and Frigo...
50 could make a $100 mill by then. He will be back
50 doesnt own effen vodka, nor does he own sms audio because its prob not his money and as for the power show he has to pay the actors, production and who knows what if he actually owns it which he prob doesnt.
He is just the face.
When are you gonna wake up show business is not real. He is a celebrity and a fading one.
He tried to go independent with the music and failed because obviously he needs to do his own thing.
He tried to do the boxing thing and use floyd and floyd smartened up. That failed too.
All these forbes lists are ? .
He filed for bankruptcy because he cant pay his debts its as simple as that....
He is in trouble and his ? is crumbling.
It happens to all musicians and actors at some point.
Look to history.
He owns 75% of SMS audio and 25% off Effen vodka... Also he is 50% owner in SK. -
This should prove once and for all that karma is a ? !!! 50 spent all that time on some comedy/expose ? on Ross, and didn't spit no bars. PLloyd Banks was the only ? is G-unit spitting during this beef, all that beefin and tryin to expose and stop ? shine done finally caught up to old Fif.
Amen? really think 50 is broke...
I wouldn't be surprised if he keep at least 10 - 30 mil in cash in a vault in one of his cribs.
Money that will not be included in the bankruptcy.
Can u post quotes of Katz sayin that cuz I don't c nobody sayin that......if anything Kat's is sayin doo doo looks like a fool filin bankrupt over a expensive JOKE!dunno if i should put gee on ignore or use him to practice this buddhist type of acceptance
Smh y do u ggggay-unit lovin squares feel the need 2 announce y'all got me blocked? I don't give a ? u lame I don't come on here for likes I come here 2 post bout my blk culture craccer! -
The problem with this piece is that it isn't just white people and commentators criticizing 50, it's hip-hop fans. Hip-hop fans aren't ignorant of his background, nor to the general background most old school hip-hop artists come from (and honestly, is anyone?) People are making fun of 50 for this because he made a career out of bullying and mocking people, and celebrating his success over others. That's it. Plain and simple. So jokes at his expense.
But 50 is aware of this and that's why he takes it in stride. He knows how to deflect the jokes well. He knows those are the rules he setup. He invented this game. He's the ultimate troll. You can only dish it out if you can take it. 50 can take it. He didn't need any white knights and capers from the UK penning op-eds defending him. He'll be fine. We laugh, he laughs, we move on. -
This should prove once and for all that karma is a ? !!! 50 spent all that time on some comedy/expose ? on Ross, and didn't spit no bars. PLloyd Banks was the only ? is G-unit spitting during this beef, all that beefin and tryin to expose and stop ? shine done finally caught up to old Fif.
Amen? really think 50 is broke...
I wouldn't be surprised if he keep at least 10 - 30 mil in cash in a vault in one of his cribs.
Money that will not be included in the bankruptcy.
Can u post quotes of Katz sayin that cuz I don't c nobody sayin that......if anything Kat's is sayin doo doo looks like a fool filin bankrupt over a expensive JOKE!dunno if i should put gee on ignore or use him to practice this buddhist type of acceptance
Smh y do u ggggay-unit lovin squares feel the need 2 announce y'all got me blocked? I don't give a ? u lame I don't come on here for likes I come here 2 post bout my blk culture craccer!
By no means am I caping for 50...
Just that some feel this is a massive L for 50 when in reality he is gonna wipe off half the debt without losing any of his personal wealth...
I think it's hilarious given how 50 trolls...just a lil karma come back his way... -
By no means am I caping for 50...
Just that some feel this is a massive L for 50 when in reality he is gonna wipe off half the debt without losing any of his personal wealth...
I think it's hilarious given how 50 trolls...just a lil karma come back his way...
I was just questionin u I ain't think u was capin.......nobody is sayin doo doo is broke its just real ? is just laufin @ the fact that 5-0 is filing bankrupt over a joke tryna destroy another blk mans career & failed miserably -
"$100m in my stash ? , nah Talkin bout, mo ? that bank I got it in cash ? .....I been grinding my whole life, ? you talking about?"
I'd assume he's trying to reduce the $22m in lawsuits. BUT I don't know the specifics. -
I have to clarify a lot of misunderstandings about this thread and ignorant comments. I have to excuse some of you because rap fans are not the brightest fans in entertainment. It has been stated that 50 Cent has filed for Chapter 11 bankruptcy , now there is a difference between the varying forms of bankruptcy. The chapters start from 7 and go to 15. Chapter 7 means the liquidation of ALL assets, that is what a person files for when they are broke and ALL their assets have to be sold to satisfy their creditors the best they can. Chapter 13 is a common one also where organizations do this to rearrange the company for it's private owners. Chapter 11 is different from those chapters because it is about the reorganization of assets. In corporate America, a person may do this if they get hit with multiple lawsuits, don't hold much cash and want to protect the liquidation of the stakes they have in multiple businesses from being sold to appease creditors or the long arm of the law.
Such a case was seen when Donald Trump did this in the early 90s. Atlantic City was in debt for $500 million and as a result, one of Trumps companies filed for Chapter 11. In the process, Trump was able to move the valuable assets around to other entities, himself, and set a minimal balance in the account so he could protect them from the creditors and renegotiate better interest rates and pay only a fraction of the money owed. I believe he refinanced with Citigroup and was able to get out of that jam and retain his fortune and start back as if nothing happened. Master P had a similar circumstance in 2002, when he also filed for chapter 11 bankruptcy to protect himself from a large judgement by Universal. He was able to protect his masters and his business interest, then reorganize to create what was at the time dubbed "The New No Limit".
50 Cent's "woe" is very similar, he was hit with a lawsuit over SMS and also from Rick Ross' baby mother - who was not able to prosecute him in a criminal court but was able to get something out of it in a civil court. Like most wealthy people on Earth, 50 Cent's net worth is likely derived from his interests in his businesses - Frigo, Effen Vodka, SMS Audio, Thisis50.com, Cheetah Vision, G-Unit records, his memorabilia company, Uber, Street King, G-Unit books along with his music career etc. If he did not file for chapter 11, those stakes may have been liquidated to pay his creditors. In chapter 11, 50 Cent can renegotiate what he has to pay creditors who according to reports range from 1-49 (this doesn't mean there are 49 creditors). The estimated $22 million 50 Cent has to pay can easily be reduced to much lower than that under chapter 11 guidelines. Some lawsuits can be thrown out depending on what it is. I would suspect 50 Cent's advisors have likely told him this which is his choice for chapter 11.
Overall, chapter 11 is very common in the corporate world and is often done to preserve the liquidation of one's assets/interests to pay creditors. It is done as a way to renegotiate using the laws to protect you. These are gems we can all use to our advantage. Rather than being on the end of it, black people can co-operate with it and use it to benefit them in certain circumstances. 50 Cent, Master P, Donald Trump were all prime examples of this. The media has a way of eschewing the details and retaining the real information. Now you understand 50 Cent's bankruptcy. Below is an article to TIME magazine's blog where they also clarify.
http://time.com/3958254/50-cent-bankruptcy-chapter-11-insolvent-not-broke/
I'm gonna call you BloombergSion from now on.
GOAT -
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50's mouth is going to get him in trouble in this BK. He was smart to do it but better keep quiet or he could end up going to jail. These crackas are going to watch his every move
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You're naive or denseSweat jones wrote: »PMoneyQueenz wrote: »A few years from now Effen Vodka will be worth a few hundred mill. Power will be even more successful and SMS audio will continue to sell well. Not to mention SK energy shots and Frigo...
50 could make a $100 mill by then. He will be back
50 doesnt own effen vodka, nor does he own sms audio because its prob not his money and as for the power show he has to pay the actors, production and who knows what if he actually owns it which he prob doesnt.
He is just the face.
When are you gonna wake up show business is not real. He is a celebrity and a fading one.
He tried to go independent with the music and failed because obviously he needs to do his own thing.
He tried to do the boxing thing and use floyd and floyd smartened up. That failed too.
All these forbes lists are ? .
He filed for bankruptcy because he cant pay his debts its as simple as that....
He is in trouble and his ? is crumbling.
It happens to all musicians and actors at some point.
Look to history.
Everybody pretty much gets he doing this for strategy and you Jst typed this big dumb essay for no reason ?
And ur sensitive cos your hero is bankrupt.
Dense.... Do u even know what that means
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FREE K.B.
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I don't think anyone is stupid enough to think that 50 is broke, and most understand the process of bankruptcy. The only point most of us are making is that the ? funny because 50 has spent the last decade plus clowning folks and throwin his money up in folks faces. So for this to happen to him after all that is really ironic and karmic.
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I don't think anyone is stupid enough to think that 50 is broke, and most understand the process of bankruptcy. The only point most of us are making is that the ? funny because 50 has spent the last decade plus clowning folks and throwin his money up in folks faces. So for this to happen to him after all that is really ironic and karmic.
exactly. He likely wont go broke, but considering he made a career out of (what I consider mostly garbage) music with shallow lyrics bragging about his wealth..
well the fact he is now claiming bankruptcy (in whatever sense) is completely ? hilarious to me.
and hes getting off lightly tbh, he should have been shot for polluting the airwaves with tracks such as candy shop and just a lil bit and ? knows how many other abortions he released
bankruptcy >>>>> being shot because your music was awful
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this ?
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Bankruptcy Judge Rules That 50 Cent Is Still Responsible For Paying Rick Ross’ Baby Mama Punitive Damages
“Broke” rapper 50 Cent will still have to pay Rick Ross’ baby mama punitive damages on top of the $5 million she’s already entitled to for leaking her sex tape.
Despite filing for bankruptcy earlier this week, a judge Friday ruled that the “In Da Club” rapper is still liable for whatever amount a jury decides is enough to punish him for leaking a sex video featuring Rick Ross’ daughter’s mother, BOSSIP can reveal.
The judge made the ruling July 17 in U.S. Bankruptcy Court in Hartford, Ct., after Lastonia Leviston asked a judge to halt 50’s bankruptcy and not let him off the hook for punitive damages – money designed to punish 50 for humiliating Leviston. A jury will deliberate on the exact amount beginning July 20—and Leviston could be in the line for more millions.
A jury awarded Leviston $5 million this month in the sex tape case, and was expected to award millions more in punitive damages, until 50 Cent filed for bankruptcy.
50 – real name Curtis Jackson—argued in court papers that if he’s forced to pay Leviston, it would mess up his bankruptcy, jeopardize his ability to pay his other creditors and force him to sue Leviston to appeal it.
Uh oh... -
maybe if he apologises they will let him pay back just a lil bit
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Bankruptcy Judge Rules That 50 Cent Is Still Responsible For Paying Rick Ross’ Baby Mama Punitive Damages
“Broke” rapper 50 Cent will still have to pay Rick Ross’ baby mama punitive damages on top of the $5 million she’s already entitled to for leaking her sex tape.
Despite filing for bankruptcy earlier this week, a judge Friday ruled that the “In Da Club” rapper is still liable for whatever amount a jury decides is enough to punish him for leaking a sex video featuring Rick Ross’ daughter’s mother, BOSSIP can reveal.
The judge made the ruling July 17 in U.S. Bankruptcy Court in Hartford, Ct., after Lastonia Leviston asked a judge to halt 50’s bankruptcy and not let him off the hook for punitive damages – money designed to punish 50 for humiliating Leviston. A jury will deliberate on the exact amount beginning July 20—and Leviston could be in the line for more millions.
A jury awarded Leviston $5 million this month in the sex tape case, and was expected to award millions more in punitive damages, until 50 Cent filed for bankruptcy.
50 – real name Curtis Jackson—argued in court papers that if he’s forced to pay Leviston, it would mess up his bankruptcy, jeopardize his ability to pay his other creditors and force him to sue Leviston to appeal it.
Uh oh...
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Judge Allows Sex-Tape Case Against 50 Cent to Proceed
A federal judge in Connecticut has ruled that a lawsuit over a sex tape can proceed against rapper 50 Cent, despite his bankruptcy filing.
A New York jury awarded Lastonia Leviston $5 million last week after determining the rapper, whose real name is Curtis Jackson III, didn't have her permission when he posted online a sexually explicit video she made with her boyfriend.
The jury was to consider punitive damages Monday, but Jackson filed for bankruptcy that day in Connecticut, temporarily stalling Leviston's lawsuit.
Her lawyer alleged Jackson filed for bankruptcy to evade testifying in the New York case.
A lawyer for Jackson didn't immediately return a message seeking comment on the judge's ruling Friday.
Leviston's attorney, Philip Freidin, tells The Hartford Courant ( http://cour.at/1gFrVSH ) he's pleased the New York case will be resuming Monday.
http://abcnews.go.com/Entertainment/wireStory/judge-sex-tape-case-50-cent-proceed-32524361
