Wow, 50 Cent Is Bankrupt?
According to himself, 50 Cent is bankrupt. But how can one bet more than a
million USD on a box match if they’re broke? See my problem?
Even though he filed for bankruptcy, life for the rapper can’t be that hard, right?
According to CNN, he’s living on an estate he bought for USD 4.1 million
(although that was more than ten years ago…) One thing I don’t understand
though, is the fact that in March, INQUISITR posted an article saying that 50 Cent
was planning on betting a huge amount of cash on his ex-buddy, Mayweather. He
said he would bet USD 1.6 million and that he “has no doubt that Mayweather
will easily defeat power-punching Filipino champion Manny Pacquiao.” If 50
Cent is bankrupt, how could he come up with the money?
I mean, it’s true, we’ve heard of many celebrity gamblers dropping colossal
amounts of money on sports events, but not many declared bankruptcy a couple
of months afterwards! Maybe the court ruling saying that 50 Cent is supposed to
pay USD 5 million to a woman in Florida brought on this sudden decrease in his
money? Allegedly, the rapper posted a sex tape of the woman on the Internet and
that’s why she sued him. It does sound like an ugly case of gold-diggerism,
though… But who knows? In a world where people like Dan Bilzerian make a
hobby of throwing porn stars off their roof… enough said.
50 Cent is bankrupt and approximately USD 800,000 richer…
…IF he actually bet USD 1.6 million on Mayweather, he walked away with USD
800,000 in profits. Sounds real good, doesn’t it? Yes, yes, we know, that
additional USD 800,000 can quickly be spent. So what is the truth? 50 Cent’s law
firm gave the following statement according to CNN, that the rapper filed thw
papers “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.”
What are his involvements? Let’s see… CNN reports that he managed to sell 22
million albums (you’re welcome, 50); has a music label that we all know: G-Unit
and his name can be tied to many products like EFFEN vodka and luxury
sneakers. The law firm representing the rapper also said that he will continue
with his business deals, because they will remain “unaffected.” Huh. Plus we
shouldn’t forget the Mayweather bet, which, if he really did wager USD 1.6
million, is a very bad move. It could easily be listed as the most stupid bet ever,
because it proves wonderfully that he most definitely DIDN’T go bankrupt.