He was once one of the music industry’s wealthiest rappers, but last week news broke that 50 Cent declared bankruptcy.
Forbes magazine claimed the rapper is worth a staggering $155 million. But Fiddy’s stage name may have become a self-fulfilling prophecy.
He claimed in court on Tuesday that he is down to just $4.375 million. Could he be saying this to get out of paying punitive damages to Rick Ross’ ex-wife?
In mid-June, 50 Cent was sued for releasing a sex tape of Rick Ross’ ex. And now, he is claiming to be broke.
Many believe he is downplaying is fortune by claiming he is broke and even clueless about his own fortune.
In his testimony, he said he made only $100,000 for his appearance in the new film “Southpaw.” He also suggested that he doesn’t know about his deals with Disney and Reebok.
Not only did he not know how much money he is making from his Reebok gig, the rap mogul said he has never even been in a Reebok store.
He was prodded with questions about his display of wealth and luxury in the media. 50 said that he exaggerates his lifestyle because that is what hip-hop is about.
In fact, he said that it is so exaggerated that fans would be surprised to know that he owns only a few chains and three cars.
When questioned about a recent excursion to a strip club where he was tossing cash around he stated the event was “on his itinerary.”
Rick Ross’ wife must have been on his to-do list too.