[Roosh]

A recent $5 million judgement put him over the edge.

Quote:

According to The Washington Post at the time, "50 Cent was thought to have walked away with a figure somewhere between $60 million and $100 million, putting his net worth at nearly a half billion dollars."

While the rapper no longer has an equity stake in the company, he continued to act as a spokesman for Vitamin Water.

Additionally, the rapper's studio albums alone have sold more than 21 million units, and he has starred in a long list of film and TV projects, including Starz's new hit "Power."

In May, Forbes estimated 50 Cent's net worth at $155 million, ranking him No. 4 on the list of the wealthiest hip-hop artists.

The bankruptcy claim comes just days after The New York Times published a glowing profile of the rapper, praising his "exceptional business instincts."

http://www.businessinsider.com/50-cent-f...tcy-2015-7

Maybe it's a curse from buying Mike Tyson's former home.

Quote:

Boxer Mike Tyson attempted to talk pal 50 Cent out of buying his sprawling Connecticut home, insisting the place was just too big to live in.
The rapper bought the former heavyweight boxing champion's Farmington mansion for just over US$4 million in 2003, despite Tyson's warnings about how much the upkeep on the place was.

The fighter-turned-actor says, "I was trying to explain to him, 'You really don't wanna buy this house...', but if I didn't sell to him there was no way I was gonna sell the house.

"No one was gonna buy it with 60,000 square feet; it's gonna cost them $25,000 just to mow the lawn... but I didn't realise how much money he had."

Tyson admits some of the parties he threw at his former 52-room palace went on for days - because people didn't leave and he had no idea they
were still there.

He adds, "There's just so much space... The party's over and four days later some girl comes out of one of the rooms and... I'd be like, 'Where's your clothes...? Who are you?'"

http://www.3news.co.nz/entertainment/mik...z3fpDVMYPT

[pheonix500000]

(07-13-2015 08:31 PM)Roosh Wrote:  

A recent $5 million judgement put him over the edge.

Quote:

According to The Washington Post at the time, "50 Cent was thought to have walked away with a figure somewhere between $60 million and $100 million, putting his net worth at nearly a half billion dollars."

While the rapper no longer has an equity stake in the company, he continued to act as a spokesman for Vitamin Water.

Additionally, the rapper's studio albums alone have sold more than 21 million units, and he has starred in a long list of film and TV projects, including Starz's new hit "Power."

In May, Forbes estimated 50 Cent's net worth at $155 million, ranking him No. 4 on the list of the wealthiest hip-hop artists.

The bankruptcy claim comes just days after The New York Times published a glowing profile of the rapper, praising his "exceptional business instincts."

http://www.businessinsider.com/50-cent-f...tcy-2015-7

Maybe it's a curse from buying Mike Tyson's former home.

Quote:

Boxer Mike Tyson attempted to talk pal 50 Cent out of buying his sprawling Connecticut home, insisting the place was just too big to live in.
The rapper bought the former heavyweight boxing champion's Farmington mansion for just over US$4 million in 2003, despite Tyson's warnings about how much the upkeep on the place was.

The fighter-turned-actor says, "I was trying to explain to him, 'You really don't wanna buy this house...', but if I didn't sell to him there was no way I was gonna sell the house.

"No one was gonna buy it with 60,000 square feet; it's gonna cost them $25,000 just to mow the lawn... but I didn't realise how much money he had."

Tyson admits some of the parties he threw at his former 52-room palace went on for days - because people didn't leave and he had no idea they
were still there.

He adds, "There's just so much space... The party's over and four days later some girl comes out of one of the rooms and... I'd be like, 'Where's your clothes...? Who are you?'"

http://www.3news.co.nz/entertainment/mik...z3fpDVMYPT

Come on now the dude is a lot of things but he isnt stupid, how can you come after his money when its hidden?

[Tengen]

So... is this book still worth reading?

[Sonoma]

He's rich enough to file for Chapter 11, so it must not be all bad

[Col. Tigh]

(07-13-2015 08:45 PM)Sonoma Wrote:  

He's rich enough to file for Chapter 11, so it must not be all bad

Sonoma is savvy and/or an attorney. This is a strategic business move to preserve his fortune against this modern-day pirate.

[chyamor]

Man is a hustler. Money under the X on his private beach

[WestIndianArchie]

(07-13-2015 08:45 PM)Sonoma Wrote:  

He's rich enough to file for Chapter 11, so it must not be all bad

It's a reorganization, so he'll probably just shake some haters off.

I'd be very surprised if he was assed out.

But lots of people have squandered more than the little 155 mill Forbes said that he had.

WIA

[Quintus Curtius]

This is not necessarily a bad thing.

Kind of ironic that I wrote about this general issue last week:

http://qcurtius.com/2015/07/09/delusion-...precision/

He's filing a Chapter 11 reorganization, which an be done even by someone who is solvent.

Said another way, just because you filed a Chapter 11 case doesn't mean you're broke.

Smart businessmen know what laws are out there and to take advantage of them. Chapter 11 cases are very powerful, and give the Debtor-in-Possession the ability to do, among other things:

1. Break out of leases and contracts,
2. Prevents evictions
3. Sell assets free and clear of certain liens
4. Rewrite mortgages

And many, many other things.

This guy is just being smart.

He must be getting good advice from his counselors, and I expect that he'll come out in a very good situation.

I have handled these cases for professionals where I've been able to:

* "Cram down" a whole portfolio of real estate mortgages to the (drastically lower) values of the residences, saving the debtor hundreds of thousands.
* Wipe out huge amounts of interest and penalties in IRS debts
* Sell assets free and clear

We'll have to see what the future holds for Mr. Jackson.

[manly5000]

So what do you think guys, should we throw him a couple of quarters to help him out??

[h3ltrsk3ltr]

I'd say the 50th law is still worth a read

[Lizard King]

He's doing it to avoid paying the woman's payday, I mean lawsuit.

[Vaun]

(07-13-2015 09:04 PM)Lizard King Wrote:  

He's doing it to avoid paying the woman's payday, I mean lawsuit.

smart move, he is essentially standing up to this shakedown

[lavidaloca]

He probably isn't what a laymen would consider bankrupt.

[Kabal]

Quote:

The filing comes just three days after the "Get Rich or Die Tryin'" rapper was ordered to pay $5 million to his rival Rick Ross' ex-girlfriend, Lastonia Leviston, who sued him for posting a sex tape online to millions of viewers in an attempt to embarrass Ross.

Once again, two famous guys scrapping it out over some nasty hoodrat, and it's now going to cost one of them $5 million and land him into bankruptcy--although it does not appear 50 Cent himself was involved with Leviston (from my reading).

Alleged screenshot of Leviston from the sex-tape:



She looks familiar...



As for the sex tape trial:

Quote:

A Manhattan jury sat stone faced but clearly uncomfortable Friday when forced to watch a graphic 13-minute sex tape that 50 Cent is accused of posting on the Internet.

“That’s your b---h, n----,” Curtis (50 Cent) Jackson says in a voice overlay as he narrated the private film that features rival Rick Ross' former girlfriend, Lastonia Leviston, and her then-boyfriend Maurice Murray.

Leviston has sued Jackson in Manhattan Supreme Court claiming she did not give him permission to publish the tape and he violated her right to privacy and inflicted emotional harm as a result.

Leviston, 36, left the large paneled courtroom with her aunt as the tape was about to be shown.

In the film, Leviston starts wearing lace panties, a silk short wrap and very high heels. Murray is in a T-shirt and short white socks.

While the rest of their clothes come off, the couple never loses their footware.

The Queens-born rapper appears on the tape in his role as “Pimpin’ Curly” in a curly wig and a high-pitched voice. However, Jackson narrates the film in such detail like a baseball broadcaster and so fast that Leviston's lawyers added a text subtitles so viewers could clearly catch all the times he taunted Ross.

Leviston and Ross broke up in 2004. The tape was made in 2008. But Jackson’s narrative suggests they’re still a couple when the tape was made and Leviston is cheating on Ross.

“Tia (the mother of another Ross baby) told me Ricky got a little d--k,” Pimpin’ Curly cackles.

Throughout the 13-minute film, the young jury forewoman mostly kept her head buried in her notes as she scribbled furiously. A middle aged juror mostly looked distressed and wiped her eye at one point. The sixth juror sat with her arms crossed and her body pivoted away from the big screen.

See the link for a hilarious shot of 50 Cent.

$5 million for an ugly ass hoodrat who took some dick on video. Swedish girl got $26 million for just being (accurately) labeled as a slut, but then again, the Swedish girl was actually attractive.

Either way, a Dubai girl somewhere is crying into her multi-thousand dollar purse.

[Driesinator]

He'll sure need his 50 cents now.

[porscheguy]

So he's doing a bankruptcy to get out of paying this civil judgement against him is what it sounds like to me. Idiot should have never made that tape in the first place. Once your net worth goes into 9 figures, you have to conduct yourself a little differently from everyone else. You don't get into silly pissing contests with other rappers, that involve ratchet-ass hood rat bitches when you're at his level.

http://www.businessinsider.com/50-cent-m...tcy-2015-7

And Forbes should have looked into his other business dealings before claiming him to be a great businessman. Last year he was hit with a $17 million judgement for a headphones deal that went tits up.

[Kabal]

(07-13-2015 09:41 PM)porscheguy Wrote:  

And Forbes should have looked into his other business dealings before claiming him to be a great businessman. Last year he was hit with a $17 million judgement for a headphones deal that went tits up.

It was the NYTimes who called him a "Renaissance Man" who has "exceptional business instincts."

Did you expect the NYTimes to be anything less than gushing about a black rapper turned businessman? It's not like they're going to write:

"50 Cent is more or less the same as any other famous celebrity or athlete trying their hand in business--no evidence of being particularly intelligent (albeit certainly not particularly dumb), with but a shallow knowledge-base of the industries in which he is participating, and no familiarity with finance or economics beyond the notion that making more money is good--hoping that at least a few large bets in various ventures pan out. Those who get lucky and make a profit on these bets (by essentially winning some coin flips) continue to get ball-licking articles written about them in the NYTimes... those less lucky become cautionary tales on late-night VH1 specials about once-wealthy celebrities going broke on bad investments."

Some interesting moments from the article:

Quote:

Curtis Jackson, better known as 50 Cent, leaned close to me and stuck out his flattened tongue.

He laid a little cloth napkin on top of it, grabbed my right index finger and steered it past his teeth.

“Can you feel it?” he asked, semi-unintelligibly, as my finger poked around.

This is not the guy I had envisioned. (For the record, I could not feel it, but more on that later.) The imposing physicality, the menacing lyrics, the rapper gear, the don’t-mess-with-me eyes: I had expected Mr. Jackson to land somewhere between intimidating diva and serial killer. Instead, he was soft-spoken, open, unfussy and arrived on time wearing a Versace shirt and a perfectly tailored Diesel Black Gold jacket.

...

There was an awkward silence, so I decided to do an abrupt turn.

“Is it true,” I asked timidly, “that you still have a piece of shrapnel stuck inside your tongue from getting shot?”

He took a sip of ginger ale. “Uh-huh, a fragment,” he said.

“Want to feel it?”

Something about the way the above was written struck me as a bit... peculiar... so I thought the author would be a middle-aged white woman, especially given the author's name. However, I searched the author's name and this is the profile photo from the author's Twitter page:



No comment.

[Enigma]

Interesting thread.

50 Cent is easily one of the more masculine and least politically correct men in show business.

He's being sued by a real slut of a woman.

Yet you have several posts here mocking him, when in any other thread of this kind you'd see nothing of the sort. The woman would be vilified and the man given the benefit of the doubt (and then some).

I wonder what the difference is here... hmmm...

In case you need it spelled out:

(07-13-2015 10:37 PM)Kabal Wrote:  

Did you expect the NYTimes to be anything less than gushing about a black rapper turned businessman? It's not like they're going to write:

Because bringing up race in a thread that has nothing to do with race never gets old

[Kabal]

(07-13-2015 11:01 PM)Enigma Wrote:  

(07-13-2015 10:37 PM)Kabal Wrote:  

Did you expect the NYTimes to be anything less than gushing about a black rapper turned businessman? It's not like they're going to write:

Because bringing up race in a thread that has nothing to do with race never gets old

Race and sex are relevant when it comes to media treatment of individuals, especially when it comes to the NYTimes, and especially when the NYTimes throws around terms like "Renaissance Man" and "exceptional business instincts" with little support, so one naturally wonders why.

There was a thread today involving a black man and a Lebanese-American woman. You can see that the race of the man is not brought up, and the comments are much more unfavorable toward the woman (some made by yours truly).

So the implied racism accusation falls flat.

Cute attempt, though.

[GoldHawkStar]

(07-13-2015 11:01 PM)Enigma Wrote:  

50 Cent is easily one of the more masculine and least politically correct men in show business.

You're right. 50 is actually really hilarious. He knows how to troll good.

[Atlanta Man]

I can assure you 50 cent is not broke. His money is in a trust in a foreign bank far from the multiple civil suits he is constantly facing, Probably the Cook islands where the Kennedys, the Bushs and the Rothchilds keep their money. His bankruptcy is little more than a rearrangement of his US assets to protect them from civil liability, he will appeal this judgement and go into settlement talks and give this plaintiff pennies on the dollar. 50 cent may not be brilliant, but his money managers are.

[Honorable Man]

(07-13-2015 11:15 PM)Goldhawkstar Wrote:  

You're right. 50 is actually really hilarious. He knows how to troll good.

I was going to post this. The first time I watched it I actually laughed so hard that I cried.

He's also absurdly talented and is responsible for one of my top 10 verses ever:

His beef with Kanye back in 2007 was so amazing. Unfortunately for him it kind of ruined his musical career and turned Kanye into the most popular artist in the world, but that's an entirely different story.

[Enigma]

(07-13-2015 11:09 PM)Kabal Wrote:  

Race and sex are relevant when it comes to media treatment of individuals, especially when it comes to the NYTimes, and especially when the NYTimes throws around terms like "Renaissance Man" and "exceptional business instincts" with little support, so one naturally wonders why.

But the thread isn't about the NYTimes article, is it? You're the one who posted that article, and it doesn't even say anything about his bankruptcy or civil suit.

Your other points aren't even accurate. He made $100 million on Vitamin Water alone, he's got deals for headphones, energy drinks, and every else, along with a major hand in a very successful TV show ("Power").

Is he the only businessman who has taken a loss? It's incredible that people are going to sit here and discredit his name because every one of his ventures isn't wildly successful.

As for the Renaissance Man comment, he's rapped, sung, acted, produced TV shows, ran successful record labels, and has business ventures across multiple different industries.

I think that fits the "a person whose expertise spans a significant number of different subject areas" definition of a polymath, and I'm not even a fan of most of his work.

Quote:

There was a thread today involving a black man and a Lebanese-American woman. You can see that the race of the man is not brought up, and the comments are much more unfavorable toward the woman (some made by yours truly).

So the implied racism accusation falls flat.

Cute attempt, though.

Wow, you didn't bring up race in one thread about a black guy? What an accomplishment!

Who said you were racist? I simply implied you're obsessed with race like a lot of other people on this forum.

[Honorable Man]

The example of his failed headphones brand is silly too. He was trying to do what Dre ended up doing. Fiddy's hustle isn't about never taking a loss, it is about becoming worth a Billion.

[Kabal]

(07-13-2015 11:30 PM)Honorable Man Wrote:  

I was going to post this. The first time I watched it I actually laughed so hard that I cried.

He's also absurdly talented and is responsible for one of my top 10 verses ever:

His beef with Kanye back in 2007 was so amazing. Unfortunately for him it kind of ruined his musical career and turned Kanye into the most popular artist in the world, but that's an entirely different story.

The nostalgia!

One of my favorites to play in my car driving on the highway as a teenager: