Rapper 50 Cent, who filed for bankruptcy in 2014, has been ordered to appear in court because he posted pictures of himself surrounded by cash on his Instagram page. After 50 Cent’s mother, Sabrina, who gave birth to him when she was fifteen, was killed by assailant, 50 Cent, whose real name is Curtis Jackson moved into his grandparents’ house. According to 50 Cent who was then 8-yr-old when he lost his mom:
“My grandmother told me, ‘Your mother’s not coming home. She’s not gonna come back to pick you up. You’re gonna stay with us now.’ That’s when I started adjusting to the streets a little bit.”
Here is a brief but sad description of how his mother died: Sabrina, 50 Cent’s mother was allegedly drugged by unknown assailant who added some substance in her drink and thereby made her unconscious. He then turned on the gas and closed the windows of her apartment, leaving Sabrina to die in the process.
Jackson did not allow his mother’s tragic death weigh him down in life. He grew up to become a successful rapper and during his career 50 Cent has sold over 30 million albums worldwide and won several awards, including a Grammy Award.
50 Cent admitted that he spends $20,000 a week on security at his Farmington, Connecticut, mansion. In his own words:
“My home is surrounded by cameras. I need surveillance not only to look out for me but also to protect me. You get all these crazy lawsuits, and I need cameras to check on things.”
No doubt 50 Cent has been very careful and frugal in life but this time, he made a big mistake that has even forced him to file for bankruptcy. Let’s have a look at why 50 Cent filed for bankruptcy.
50 Cent also lost a court case in which a jury hit him with a $17.2 million judgment over ripping off a headphones design.
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Now again, a jury awarded Lavonia Leviston (Rick Ross’ baby mama) a $5 million lawsuit against him for intentionally leaking a sex tape in which she was featured. It is believed that 50 cent did it in order to embarrass Ross.
All these seem too much for the rapper to bear and he filed for bankruptcy.
This reminds us of Kim Kardashian’s sex tape which was leaked by Ray J. and the court also awarded Kim $5 million as damages. Kim became famous through that scandal before starting a reality show (Keeping Up With The Kardashians) which gave her more fame.
50 Cent normally poses behind lots of money and expensive cars, but after filing for bankruptcy, he posted a photo to Instagram in which he posed in front of a cheap, blue colored SMART CAR which every low-income-earner can easily afford. See photo at the right-hand side of article.
Now he has done the contrary by posting pictures of himself surrounded by lots of cash to his Instagram page.
The court has therefore ordered him to appear in court to explain how he came about such huge sum of money while he filed for bankruptcy just about a year ago.
According to American billionaire Donald Trump, who’s gone bankrupt several times himself, “I never went bankrupt but like many great business people, have used the laws to corporate advantage. Smart”.
We all know that 50 Cent is neither broke nor bankrupt. He is only applying the so-called “Donald Trump bankruptcy Trick”.
50 Cent owns a mansion which has 19 bedrooms, 26 bathrooms. He gets cash regularly from records, films, bottled water, boxing, mining, underwear, headphones, vodka, etc.
There is a loophole in America system which allows a debtor to file for bankruptcy so he or she would be allowed to pay his or her debt after so many years. The aim is to allow the debtor to re-organize and be financially stable before the debt would be paid.