50 Cent is trying to convince the court that he is in a serious struggle with bankruptcy right now, but then he contradicts himself by posting Instagram pictures with piles of cash. According to The New York Times, the rapper filed for bankruptcy in 2015, but attorneys don’t seem to believe him anymore.
In one of his tweets after a hearing on Wednesday, 50 Cent posted an Instagram photo of his old pair of Jordans, letting everybody know that he cannot even afford to buy a new pair of shoes, and capturing the photo, “My guess is this image is court approved.”
“check these beat jordans and while you’re at it BUY MY VODKA” – 50 cent, still working through effen vodka branding pic.twitter.com/bzCH6bYa9n
— Tony Abraham (@TonyAbraham) March 10, 2016
Shortly after 50 Cent filed for bankruptcy last year, he posted another Instagram photo, in which bills are arranged into letters spelling out the word “Broke.”
That picture became one of the subjects during this Wednesday’s hearing, where Curtis Jackson III (50 Cent’s legal name) was questioned about that money. And while the “Get Rich or Die Tryin'” rapper remained silent during the hearing, he later claimed in a court filing that his Instagram photos featured fake cash and were posted just to maintain his image.
However, Holley Claiborn, an attorney for the U.S. Trustee’s Office, still asked the court to find someone who’d look into 50 Cent’s bankruptcy claims and determine whether or not he had lied to the court about his assents and income.
But what’s definitely not helping 50 Cent win the case is that he keeps posting photos of himself with cash! After the hearing on Wednesday, the “Candy Shop” rapper posted a picture of himself with cash sticking out of his pants, while the rapper is eating M&M’s. The caption of the photo claims that 50 Cent has no money, but plenty of M&M’s.
“I went to court today and all I felt was love. They asked me about money I said I ain’t got none, but if you want some m&m’s here ya go.”
According to Hip Hollywood, 50 Cent has nearly $20 million in assets and over $10 million tucked away. However, the rapper claims in his court filing that all he has is $36 million in liabilities.
50 Cent filed for bankruptcy in July, a few days after the court ordered the rapper to pay $5 million to a woman who had accused him of leaking on the internet a sex tape with her. The rapper was later ordered to pay a total of $7 million.
But 50 Cent explained in a court filing that he is truly broke, and just because he is photographed next to money, doesn’t mean he actually owns it.
“Just because I am photographed in or next to a certain vehicle, wearing an article of clothing, holding a product, sitting next to what appears to be large sums of money or modeling expensive pieces of jewelry does not meant that I own everything in those photos.”
But now the question is whether 50 Cent simply posed with someone else’s money, as he seems to be implying, or whether that’s counterfeit money in the photos.
— New York Daily News (@NYDailyNews) March 12, 2016
So as it turns out, while famous artists promote their luxurious and sometimes wasteful lifestyle via their music videos and songs as well as on social media, in reality many of them may well be broke. And just like 50 Cent, social media has become an essential part of many hip-hop artists’ communication outlets, through which they boast their wealth.
Over the years since 50 Cent rose to prominence, the rapper managed to strike a number of profitable product and merchandising deals. One of those deals was his endorsement for Glacéau’s grape-flavored line of vitamin water, after which the rapper became a shareholder of the Queens manufacturer.
Glacéau was then bought by Coca-Cola for $4.1 billion, which further boosted 50 Cent’s investments.
[Photo by Matthew Eisman / Getty Images]