Yesterday (July 13) the unexpected happened, rapper and actor 50 Cent filed for Chapter 11 bankruptcy protection.
50 Cent explains the reasons for the filing at the Southpaw press junket in Los Angeles.
“It’s for protection, so I’m not taken advantage of,” he says. The G-Unit boss says that he will make some adjustments to his personal account. “You know when you’re successful and stuff, you become a target. I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”
50 says, “Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward.”
Last year, he lost a lawsuit against Sleek, a headphone company he once worked with. That will cost him $16 million.
“I’ll be aight,” Fiddy says.
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