YO SHORTY … IT’S YA COURT DATE …
|| By FITSNEWS || Curtis James Jackson III (a.k.a. “50 Cent,” a.k.a. “Fiddy”) has filed for chapter eleven bankruptcy protection, according to The Wall Street Journal.
The paper obtained court papers filed in the U.S. Bankruptcy Court in Hartford, Connecticut showing Jackson with “assets and debts each in the range of $10 million to $50 million.”
It’s not clear whether Fiddy’s filing is related to a judge’s ruling that he pay $5 million to a woman whose sex tape he posted online without permission.
According to a book excerpt published in The Washington Post back in 2010, Jackson was worth half a billion dollars as recently as 2007.
How’s Fiddy taking all this?
Well, according to his Instagram page “you can find him in da club … bottle full o’ bub.”
26 comments
No one saw that coming…said no one ever.
Get rich or die trying… or maybe he can try dying.
From Forbes.
First things first: Donald Trump has filed for corporate bankruptcy four times, in 1991, 1992, 2004 and 2009. All of these bankruptcies were connected to over-leveraged casino and hotel properties in Atlantic City, all of which are now operated under the banner of Trump Entertainment Resorts. He has never filed for personal bankruptcy — an important distinction when considering his ability to emerge relatively unscathed, at least financially.
“Corporations, limited partnerships, and LLCs in which he had an ownership interest or companies that had his name attached have filed for bankruptcy,” said Michael Viscount of Atlantic City law firm Fox Rothschild LLP, who represented unsecured creditors when Trump Hotels & Casino Resorts, as it was then called, filed for Chapter 11 protection in 2004. “Therein lies the big distinction.”
Trump has never apologized for using Chapter 11 as a business tool — indeed, when he spoke to my FORBES colleague Keren Blankfeld recently, he noted that many “great entrepreneurs” have used bankruptcy to restructure debt, free up capital and improve their businesses.
“I’ve cut debt — by the way, this isn’t me personally, it’s a company,” Trump said. “Basically I’ve used the laws of the country to my advantage and to other people’s advantage just as Leon Black has, Carl Icahn, Henry Kravis has, just as many, many others on top of the business world have.”
But to those uninitiated in bankruptcy laws, four instances of corporate bankruptcy in a row can seem staggering. “To the ordinary person in the street, it may seem surprising, but certainly not to me,” said Reed Smith partner Michael Venditto, who has represented clients in high profile Chapter 11 cases, including bankrupt airline TWA. “Chapter 11 is how you reshape and restructure a company that has problems. It doesn’t indicate anything nefarious or even bad management.”
Campaign exaggerations are as much a part of politics as kissing babies. Inannouncing his bid for the Republican presidential nomination this morning,Donald Trump started with what Forbes believes is a whopper. He claimed his net worth was nearly $9 billion. We figure it’s closer to $4 billion — $4.1 billion to be exact.
This discrepancy is noteworthy, since Trump’s financial success – he put his fortune at exactly $8,737,540,000 — is core to his candidacy. “I’m proud of my net worth. I’ve done an amazing job,” said Trump at his circus-like announcement, before referencing his autobiography. “We need a leader that wrote ‘The Art of the Deal.”
That was the essence of a post I made when the Trump articles started…it’s easy to show a high net worth when you use legal structure to screw your creditors….it drastically swings the balance sheet…making you look “successful”.
Either it never made it because of Disqus….or it was struck down by someone else….
I haven’t seen any deletions here. I saw some moderation for a while out of a moderator annoyance with a serial Will-bashing photoshop-only poster – I can’t confirm this, but 9″ got whacked once, but he never told me if it was a deletion or he deleted it after being in a moderation queue.
Disqus has definitely been hinky, but I haven’t seen anything serious in several months.
Z-TAC!!!
Yes.. Z-TAC – he no longer tries to post here, and I noticed lately that messages containing a single reference to a static image no longer causes moderation.
It’s Disqus.
Donald Trump has filed Chapter 11 Bankruptcy four times. Stuck it to his creditors every time. I guess only little people pay taxes and creditors.
I’m thinking his idea of broke and yours are two entirely different things.
You know what they say about fools and their money.
” A fool and his money are soon…partying.”?
Tyrese – Broke Ass N*gga’s (Official)
http://www.youtube.com/watch?v=ZLFiY5jOvVk
Po Fiddy.
*We* didn’t remove the flag fast enough. If only *we* had done the right thing sooner.
Working part time@oids11
7.
http://www.WorldCareersProvidersBest/weII/pay...
Black lives mater.
or maybe.. Black livers matter.
Who is this clown?
His name isn’t even worth $0.50 cents. Excuse me “fiddy seant”
he’s eating his money. that splains it
Those are the breaks
https://www.youtube.com/watch?v=FcLITA7Ugw0
Brings a whole new meaning to “nigger rich”. A couple years ago listed in Forbes as one of the countries richest men, today just another broke ass N.
yeah, like Curt Shilling…broke ass cracker.
You unrepentant racist.
Were they one of Forbe’s richest people too?
MC Hammer, Mr. T., any NBA player…
Will is no doubt happy he did not post that certain sex tape on this blog.
^^^^ JK
/// ^^^^ JK ///
Um. Unless it’s true.