MOGUL MOVES
On July 13, 2015 the news hit social media, newspapers and news. 50 Cent 40-year-old rapper, Curtis James Jackson III, filed for Chapter 11 protection in the U.S. Bankruptcy Court in Hartford, Conn., on Monday, the same day he was supposed to appear in a New York State Court to determine whether he owes punitive damages in a 2010 lawsuit filed by Lastonia Leviston, rapper Rick Ross’s ex-girlfriend, court records show.
Recalling years back when the feud between 50 and Ross emerged things got messy.50 allegedly, posted a 13-minute sex tape on his website in 2009 as part of a “rap war” between himself and Mr. Ross, according to court papers.
In the hip hop world beef is a common things between rappers because it keeps the rappers in the spotlight, and keeps their supporters and fans engaged in whats going on in their life. Social media has been an easy way to expose artist and families with positive situations and negative ones.
So the question I am sure everyone wants to know, Is 50 Cent broke due to this situation? Absolutely not, Chapter 11 allows companies time to re-organize their finances while protecting them from creditors’ demands. 50 has always been a savvy wise business man and very intelligent at making his money and keeping it secured. Filing for personal bankruptcy protection permits Mr Jackson to continue his involvement with various business interests and continue his work as an entertainer.
So there we have it. 50 still got money and investments and I doubt if the Mogul will be window shopping anytime soon.
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