50 Cent On Bankruptcy: “Times Are Hard Out Here”
50 Cent confirmed via Instagram on Monday night that times were definitely hard.
Just hours after news broke that the rapper filed for bankruptcy, Fiddy broke his silence and shed a little humor on the situation. The 40-year-old posted a photo on Instagram of himself standing by a smart car, with the caption:
“Times are hard our here LMAO.”
On Monday, it was reported that the New York Native filed for chapter 11 and that his liabilities are between $10 and $50 million.
Just last week, rapper was ordered to pay $5 million to Rick Ross’ baby’s mother, Lavonia Leviston for posting a sex tape of her and another man. Fiddy was also recently hit with a $17.2 million judgement after being found guilty of stealing the design for his headphones.
“The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests,” Fiddy’s lawyer tells THR. “Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case. 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.”