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50 Cent filed for bankruptcy on Monday, but the “I Get Money” rapper isn’t exactly crying broke — though he is joking about it.
On Tuesday morning (July 14), the G-Unit juggernaut poked fun at himself when he posted a picture standing in front of a compact car on Instagram. “Times are hard out here LMAO,” he wrote to caption the pic, before using the hashtags he uses to regularly promote his holdings in Effen Vodka, SMS Audio and Frigo.
There was speculation about what the filing meant for the rapper and music mogul. He filed for Chapter 11 bankruptcy in a Connecticut court and official court documents have 50 listing both his assets and debts in the $10-50 million range. The move came less than a week after he was ordered to pay $5 million to Rick Ross’ daughter’s mother for the release of a sex tape online.
In an Monday interview with E! News, Fif explained that he is just looking out for his best financial interests.
“I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target,” he said. “I don’t wanna be a bullseye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”
If the filing seems a bit odd for a rapper who openly flaunts his riches, 50 says that he isn’t alone when it comes to taking this type of precaution.
“Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy,” he said. “It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward. I got a decent legal team. You don’t have to worry.”