50 Cent Speaks Out On His Recent Bankruptcy

50 Cent Speaks Out On His Bankruptcy Status: "You Don't Have To Worry"

50 Cent Large

50 Cent has spoken out on his personal finances and legal standing after declaring Chapter 11 bankruptcy Monday morning. Framing his money woes in an optimistic light, the rapper told E! “You know when you’re successful and stuff, you become a target.”

50 Cent’s bankruptcy came in the wake of a $5 million settlement against him. E! reports that a jury awarded Lavonia Leviston the large sum after ruling that 50 Cent did indeed leak a sex tape of her with another man to the public. Still, the MC remained confident in his comments on the matter. “”I gotta descent legal team,” he told the entertainment channel. “You don’t have to worry.”

Documents in connection to the court case detail that 50 still holds between $10-50 million in assets, with liabilities in the same range. “This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests,” the rapper and business mogul’s attorney said in a statement yesterday.

“Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy,” 50 Cent stressed in the interview. “It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward.”

Our Newsletter

Follow us on Social Media