50 Cent Is Going Through Bankruptcy, But You Wouldn’t Know It By His Instagram Feed
50 Cent (Photo: Getty Images)
50 Cent didn’t have to die tryin’, he got rich. But as he goes through bankruptcy proceedings, which he initiated last July after being $30 million in the hole to creditors, you’d have no idea he was dealing with financial woes based on what he shares in his Instagram feed.
Although just last week the judge in his case ordered that the “I Get Money” rapper appear in court amid “allegations of nondisclosure and a lack of transparency in the case” (basically, it’s being suggested that he’s hiding assets after he posted a series of Instagram photos showing him holding stacks of money), he continues to share similar snapshots in his stream. In addition to Benjamins, he’s uploaded pics of expensive cars, planes, and bling.
Since that hearing last Thursday, 50 (real name: Curtis James Jackson III) has posted a photo of him sitting in a room stacked with money as well as two shots posing next to a Rolls-Royce.
Take that, judge? Days after a the judge in his bankruptcy case ordered him to come to court to explain the series of flashy money photos he’s put on Instagram in recent months, he added another. (Photos: Instagram)
Those photos were preceded by snaps, which have all been posted since his bankruptcy filing on July 13:
The time he spelled out “broke” with some bills:
(Photo: Instagram)
The time he watched TV and ate a popsicle with some cash:
(Photo: Instagram)
The time he woke up covered in money:
The time he opened his fridge and there was a special kind of dough inside:
(Photo: Instagram)
The time there were buckets of bills:
(Photo: Instagram)
Let’s not forget the pix of fancy cars, helicopters, and private plane rides:
50 with a Rolls-Royce, ready to board a helicopter, and on a private plane (Photos: Instagram)
In court documents, 50 Cent’s legal team tried to argue that the fact that he posts buckets of money online, when he claims he has little, is just part of the image he needs to maintain as a celebrity.
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“By including pictures from [Mr. Jackson’s] social media accounts and implying that [he] is hiding assets…the [creditors] intentionally ignore that [Mr. Jackson] is in the entertainment and promotion business and must maintain his brand and image (or those of the products he is promoting),” his lawyers said in documents filed in U.S. Bankruptcy Court in Hartford, Connecticut.
Besides, he’s still a businessman despite his financial woes.
“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs,” his attorneys previously said in a statement.
In July, the singer, actor, and entrepreneur — who Forbes had previously estimated had a net worth of $155 million — filed for chapter 11 bankruptcy claiming that his assets were in the range of $10 million to $50 million and that was the same amount as his liabilities. His filing came days after a jury ruled that he had to pay $5 million to Lastonia Leviston, rapper Rick Ross’s ex-girlfriend, who sued him for posting a sex tape of her on his website without her permission. (It was done during a feud with Ross.)
50 Cent — who has many business ventures beyond his singing and acting gigs, including headphones and vodka lines (he also earned $78 million for promoting men’s underwear) — owns a 21-bedroom, 25-bathroom mansion in Farmington, Connecticut, which was previously owned by Mike Tyson.
A court date has not yet been set for 50′s face-to-face with the judge.
