ABC/Fred Lee50 Cent is making light of his financial hardship. The rapper took to Instagram to joke about filing for bankruptcy and reassured fans that he will bounce back.
“Times are hard out here LMAO,” 50 wrote in the caption, along with a photo of him standing in front of a blue compact car.
The rapper’s bankruptcy filing cites estimated his assets and liabilities in the same range — between $10 million to $50 million. But the mogul released a statement explaining that the filing is a business move following a jury verdict last week ordering him to pay at least $5 million in damages to Lastonia Leviston, for posting a sex tape of her online in 2009.
“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. I don’t wanna be a bulls eye,” he tells E! News.
50 is remaining positive and points out that he’s not the first business or business person to file for bankruptcy. “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,” he says. “I gotta decent legal team. You don’t have to worry.”
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