50 Cent Explains Filing for Bankruptcy

Photo Credit: Instagram
Photo Credit: Instagram

By: Amanda Anderson-Niles

The other day it was confirmed 50 Cent recently filed for bankruptcy as a result of being sued for $5 million by Rick Ross’ baby mama, but now the businessman wants to make it clear to the media that the move was a strategic one and not a sign of financial difficulties.

He tells E! News:

“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. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.

“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.”


  1. I’m not sure why people keep trying to put Donald Trump on a pedestal when he’s a racist idiot who happened to be born into wealth. I wish people would stop feeding his ego.

    1. They are easily impressed. Most business people don’t respect Trump. And his real estate classes are a complete scam.

  2. Well duh he doesn’t want to pay Rick Ross baby mama 6 million and he just lost a 16 million lawsuit with SMS headphones. Filing bankruptcy protects your assets because when someone has a judgment against you and you don’t pay they can go after your assets so filing bankruptcy stops that. Donald Trump and other rich people do this all the time.

  3. Not a 50 cent fan but this situation has taught me that the masses know little about business, finances and bankruptcy. It was a smart move…

  4. Rich people do shady sh-t like this all the time when they get sued. Too bad us working Americans can’t do the same when it comes to student loan debt. Bullsh-t.

    1. You ain’t neva lied. You get punished for getting an education in this f-cked up country. Most people are living paycheck to paycheck because of student loans. I’m going to make sure my kids don’t even go that route. They will either get a scholarship or use the college fund I started for them when they were born. I got it all mapped out. I just need a husband first. LOL.

        1. You are so right. I need to go ahead and start investing too while I’m at it. I don’t want to be working when I’m in my 60s. It’s not like our generation will have social security to fall back on.

    2. YES!! I said this same yesterday that rich people have all kind of loopholes they can use to get out of paying people when they have the money to pay their debts. But us hardworking people don’t get any loopholes you can’t file student loans under bankruptcy at all even if you legitimately can’t pay and thats wrong but rich people get ALL the breaks.

    3. You’re right, it’s not fair at all. But that’s why we as a people have to start encouraging our people to invest and create wealth. You don’t even have to start a business to become wealthy anymore. There’s a man who worked at McDonald’s all his life who saved and invested for years and now he’s a millionaire. We need more wealthy blacks.

  5. It’s a smart move but he could have prevented all of this if he didn’t troll that woman in the first place.

  6. 2 quarters thinks he’s slick but he still has to fork over his financials to the jury so they can finish awarding punitive damages. Either way, he’s still gonna have to pay…he’s just forestalling the inevitable!

Leave a comment

Your email address will not be published. Required fields are marked *