50 Cent Still Has $64M in Assets, According to Bankruptcy Filing
According to new bankruptcy documents, obtained by the Daily Mail, the hip-hop mogul has more than $64 million in assets and property.
50 filed bankruptcy in July 2015, after losing a pair of high profile lawsuits. He was ordered to pay more than $7 million to the baby's mother of rap rival Rick Ross, over the leak of a sex tape; and another $17 million to a former partner over a failed headphone deal.
In his filing, he claimed he had between just $10 to $50 million in assets, but more in liabilities. Then, just last month, he filed new documents in the bankruptcy that stated he only had $16 million in assets.
Despite the claims, appraisers investigated and found that he has over $64 million in assets, with liabilities totaling more than $36 million. Additionally, they found he has over $10 million in checking and stocks, as well as business equity worth over $44 million. And finally, the report says he earns upwards of $184,000 in monthly income.
In the midst of the bankruptcy news, 50 took to social media to poke fun at the ordeal. In one photo on Instagram, he is seated on the floor with stacks of hundreds spelling out the word "Broke".
Bankruptcy judge, Judge Ann Nevins, expressed her concern over the rapper's need for bankruptcy and has asked that he explain those photos on social media. "I'm concerned about allegations of nondisclosure and a lack of transparency in the case," Judge Nevins said at a hearing. "There's a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process."