50 Cent: "I take the jewelry and cars back to the stores"
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when people file bankruptcy its to protect assets.. so they keep the houses and cars anf dont owe debt... however they not totally broke. its that they owed more than they worth..
they can still receive income and clean up debt later -
Louis Devinear wrote: »Idk how he doing it but this ? is beating the system.
This dude is highly intelligent. I doubt he's losing his paper over this.
And a wealthy dude once said never buy expensive automobiles. Always lease.
I am still clowned about having my old ass cars -
I'm sure this all has something to do with the distinction between 50 Cent and Curtis Jackson, every rich person does this kind of thing when it comes to losing personal assets... Thats why corporations exist
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A master scoundrel
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Man. Anything can be spun into a win. He has assets and liabilities. His liabilities brought his real worth down to 4.4 million. So maybe he has 40-50 mil in assets, but he's got around that much in liabilities. Now he's probably using some kind of funny accounting, but overall, I don't think this is going to get him out of having to pay his debts. If he pays all of his bills today, he's down to 4.4 million dollars. With this judgement coming, he'd be in the negative, but he still has income from various projects and investments. Overall, he lost, bad. It's not over for him, but this could have been avoided. He makes ? decisions.
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I remember Mayweather saying he leases a few cars to keep his credit good...
Anyways 50 is brave for doing all of this if he really doesn't have to... I believe all this is bullschitt just to get off paying his debts, dude would rather cut off his nose to spite his face...
If he is like this in the boardroom, can you imagine what dude was like in the streets??? Dude must of been ruthless... -
can'tyoutell wrote: »Man. Anything can be spun into a win. He has assets and liabilities. His liabilities brought his real worth down to 4.4 million. So maybe he has 40-50 mil in assets, but he's got around that much in liabilities. Now he's probably using some kind of funny accounting, but overall, I don't think this is going to get him out of having to pay his debts. If he pays all of his bills today, he's down to 4.4 million dollars. With this judgement coming, he'd be in the negative, but he still has income from various projects and investments. Overall, he lost, bad. It's not over for him, but this could have been avoided. He makes ? decisions.
The irony -
can'tyoutell wrote: »Man. Anything can be spun into a win. He has assets and liabilities. His liabilities brought his real worth down to 4.4 million. So maybe he has 40-50 mil in assets, but he's got around that much in liabilities. Now he's probably using some kind of funny accounting, but overall, I don't think this is going to get him out of having to pay his debts. If he pays all of his bills today, he's down to 4.4 million dollars. With this judgement coming, he'd be in the negative, but he still has income from various projects and investments. Overall, he lost, bad. It's not over for him, but this could have been avoided. He makes ? decisions.
The irony
The dickridery.
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I swear doo doo should've dressed as pimpin cuuuurly wit the wig & ? maybe the judge would take his muuuunkee ass serious......
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For those ignorant to what's going. 50 filed chapter 11 which means he doesn't have to be broke to file, just means his income coming in is less than his debt from failed ventures.
Chapter 11 allows him to stall on paying for a couple years until his investments are out of the red. This tactic is used by big companies in hopes that the plaintiff will settle for a portion of the money other than waiting 4-5 years for the full sum. With chapter 7 he'd have to return the rented cars and things, but 11 allows him to keep the items he has leased. -
^ nobody is sayin doo doo is broke he just looks foolish doing all this on the stand & talkin bout he a window shopper now & ? ....especially wen he supposedly got the paper but I guess doo doo pride is gonna have him n a cell..doo doo shouldve went 2 court as cuuuurly wut the wig lookin like a ? the judge would take him serious then...regardless of wat happens donkey Kong lost!
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^ nobody is sayin doo doo is broke he just looks foolish doing all this on the stand & talkin bout he a window shopper now & ? ....especially wen he supposedly got the paper but I guess doo doo pride is gonna have him n a cell..doo doo shouldve went 2 court as cuuuurly wut the wig lookin like a ? the judge would take him serious then...regardless of wat happens donkey Kong lost!
Does that mean you can finally rest in peace? -
Does that mean you can finally rest in peace?
Nah...that won't happen till doo doo is n a cell or n the grave lollll -
Now 50 done wonder whats going to happen to g unit.
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Now 50 done wonder whats going to happen to g unit.
Well gayo is on Twitter actin like kats gonna get hit cuz the ggggay-unit is finished.....but wat Benson don't understand is if donkey Kong goes 2 jail 4 bein a muuuunkee he's a dead man walkin! Lol -
Guess this wouldnt be a good time for webbie to ask 50 bout that million dollar bet he lost a while back.
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Damn doo doo got 2 child support checks he gotta cut now...1 2 rozay bm then he gott cut a check 4 that Asian back page ? he knocked up......5-0 could b n court again soon 4 child support cuz I know that back page ? is gonna want her $ 2
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This ? proly got that money hidden in offshore accounts. So if they can't find the doe these lawsuits will be reduced drastically
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sapp08_2001 wrote: »This ? proly got that money hidden in offshore accounts. So if they can't find the doe these lawsuits will be reduced drastically
Smh@ this qoute .....doo doo u got ya stupid fan base fooled wit ya muuuunkee ? lol -
SheerExcellence wrote: »This dude straight up lying
I give he credit for really trying to limit his losses in these lawsuits, but this ? is a lie
So you really think he's going to get on the stand and lie before a judge?....perjury ? .....in value as an artist he might be worth 150 mill....but in actual cash on hand the ? prolly got 5 mill....who would go through all this trouble over a 5 mill verdict if you really holding 150 mill? -
5o cent carries himself as a brand , right? and rightly so
his brand is based on him being a successful entrepreneur and businessman. His fans have clung on to the probable illusion that he is making millions from his various business deals throughout the drought of any sort of hits or even just decent music, for years.
so how is declaring himself bankrupt in any way whatsoever beneficial for him and his brand, if he supposedly has all this cash, openly or hidden away? it completely negates the image he has portrayed.
so ok, he could be doing this just because he doesnt want to pay this woman and so vicariously pay his enemy rozay. But if he actually had this supposed wealth, why not just pay it, like its nothing? and i understand liquid assets versus potential business funds etc etc.
this man lives for his image. this destroys his image, you think hes going to try to pull the wool over the laws eyes, just so he doesnt have to pay a few mill, when hes been openly bragging about being a multi millionaire for years? You think he will walk away from this and just switch to being humble just to hide any assets that he successfully hid from the courts?
if he is actually had this scheme worked out for years just to save money, and it works and he then goes into relative hiding and we all sit back like, damn he probably got away with with absolute fuckery, then more power to him, no double entendre. But this is the same man who is getting sued for millions because he did a voiceover in a curly wig and released a sextape featuring a completely innocent woman..on his fkin website lol. How clever do you really think this guy is?
it seems to me hes been feeding misinformation for years, bragging about 78 million dollar deals on IG when it only tells 1 percent of the story, etc etc etc. and people bought into it, so they cant fathom the realities.
so imo hes broke, rich people broke likely, but broke. The only way this can be spun into a win for him is the scenario i mentioned earlier, where he rides off into the sunset like some sort of mad supervillain. How likely is this though, and how likely the law dont discover funds he may have been hiding, because if thats the case, jail awaits.
scuse the mildly long post anyway, but im curious about this whole situation, and im no expert so im gladly corrected
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50 probably the most Petty ? in the rap game by his own admission.
So any other time is so he was really broke since it's only 5 million. What's 5 million to a ? with 100 million?
But this is 50 we talking about here. He the type to go to war over the principle of the thing lol
So maybe he really is just bullshitting. -
Fif will lay low and in 5 years he'll be back on the Forbes list, in 10-15 years he'll be north of a billion dollars.
i respectfully but completely and utterly disagree
this man doesnt know the meaning of the phrase 'lay low'
how will he end up back on the forbes list...what money will he use to invest, the money he hid? or will he go back to selling records lol? not to mention his image is ruined
imo this mans been pulling a complete smoke and mirrors act for years, what we are hearing from court is likely pretty close to the truth
and thinking he will end up worth a billion is ludicrous lol, like complete fkin madness. you think he can pull a vitamin deal out of nowhere again?
im surprised his actual deals such as effen and that collaboration with disney etc hasnt folded either. he released a sextape completely cursing out an innocent woman. trust if the internet feminist/womans rights or whatever the ? movement gets their teeth into this, it will get beyond worse.
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Im worth 155 million aint nothing gone be rented. I would have a water bed filled with water imported from africa type ? . Rick ross baby mama got 50 telling all his personal business how is this not an L.
Perceptively you can view it like that but in terms of perspective - aka what you have at the end of the day it's a W because he won't have to pay the ? a dime and protects his money. Some of yall need to stop worrying about how people see you and keep your eyes on your own wallets. Sleek Audio now might get a little something but it won't be anything near $20 million they want.
We know Fif aint broke, same way we know Master P is loaded. They're just older and smarter now, they use the laws to make it work for them and moved their assets around. Fif will lay low and in 5 years he'll be back on the Forbes list, in 10-15 years he'll be north of a billion dollars.
That 20 something M's he owe to sleek and ross bm fif got no choice but to pay it. Dont understand how a judge can rule in his favor if southpaw come out and do numbers over the weekend judge gone toss that ? out. Either that or do that year in the joint for lying under oath. Its doing more damage to him by prolonging this out. Shouldve settled out of court for a few mill and keep it pushing. -
can'tyoutell wrote: »Man. Anything can be spun into a win. He has assets and liabilities. His liabilities brought his real worth down to 4.4 million. So maybe he has 40-50 mil in assets, but he's got around that much in liabilities. Now he's probably using some kind of funny accounting, but overall, I don't think this is going to get him out of having to pay his debts. If he pays all of his bills today, he's down to 4.4 million dollars. With this judgement coming, he'd be in the negative, but he still has income from various projects and investments. Overall, he lost, bad. It's not over for him, but this could have been avoided. He makes ? decisions.
But the point is that he was supposed to be worth $150 million and his NET WORTH is really $4.4 million.
That means he LOST over $100 million...or he spent it on ? .
Either way 50 lost.
or should I say ETHER way 50 lost.
