50 Cent has just gotten himself into some trouble with a recent Instagram post, or rather, several Instagram posts. The “Candy Shop” rapper, whose real name is Curtis J. Jackson III, is going to have to go to court to explain why he posted pictures of himself surrounded by stacks of money, after he filed for bankruptcy, reports Fox Business. 50 Cent spells out the word “BROKE” with stacks of cash in one of the pictures, looking up at the camera holding more money in his hand. Clearly, the man is anything but broke if all of this money actually belongs to him.
“Man this lunch money,I gotta go to work I’m still up, no Sleep at all. NEW MUSIC this week, Off The KANAN tape,” 50 Cent writes in the caption for one of the photos.
50 Cent filed for bankruptcy in July of 2015, after losing a considerable amount of his money due to numerous lawsuits. But, since then, the rapper has had no problem showing off money all over his Instagram account, completely contradicting his “bankrupt” claim. The reason to post these pictures online is one that doesn’t make any kind of sense. Surely, he had to have known that people were going to see them and eventually, he would be called into question because of them. 50 Cent looks as if he doesn’t have a care in the world in one picture, with a popsicle in his mouth, sitting on his bed, watching TV surrounded by cash.
“There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process,” according to the judge at the Hartford, Connecticut hearing. The judge told 50 Cent’s attorneys, “I’m concerned about allegations of nondisclosure or a lack of transparency in the case.”
50 Cent has to keep up appearances, however, according to his lawyers. This is the reason why his Instagram page is filled with stacks of money, to reassure anyone who has any doubts about his personal finances. 50 is a businessman, after all, and maintaining a certain image is apparently necessary. Admittedly, every time he is showing off his money, he is also hashtagging his Effen Vodka in the captions.
“By including pictures from Mr. Jackson’s social media accounts and implying that he is hiding assets…the three creditors intentionally ignore that Mr. Jackson is in the entertainment and promotion business and must maintain his brand and image or those of the products he is promoting,” according to his lawyers.
50 Cent also had time and money to buy property in Africa, apparently.
My crib is almost finished in AFRICA. I'm gonna have the craziest House warming party ever. I'll… https://t.co/eZXiYL8jpn
— 50cent (@50cent) September 5, 2015
Sleek Audio, SunTrust Bank and 50 Cent’s ex-girlfriend Lastonia Leviston all claim that they are owed a combined $30 million from the rapper. 50 Cent has also made TV appearances and performed at concerts, for which he was paid, but has not reported how much he received. Leviston won $7 million in a sex-tape lawsuit in 2015, but because Jackson filed for bankruptcy last summer, she has yet to be paid.
50 Cent reportedly received $100,000 for his role in the boxing movie Southpaw and $50,000 for acting in the action-comedy Spy. 50 also regularly appears on the Starz television show Power where receives $20,000 per episode, as well as an added bonus of $15,000 for being the shows executive producer.
The rapper has definitely fallen from grace, not only with his music but financially as well. 50 Cent was once the second wealthiest hip-hop artist in the industry in 2007, right behind Jay-Z, who was number one. In 2015, the rapper was ranked as the fifth-richest artist in American hip-hop, with his net worth estimated at $155 million, which is nothing to sneeze at.
[Photo via 50 Cent/Instagram]