50 Cent files for bankruptcy
The rapper’s court papers indicate assets and debts in the $10 million to $50 million range.
50 cent files bankruptcy… Now only worth 49 cent
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50 Cent files for bankruptcy
The rapper’s court papers indicate assets and debts in the $10 million to $50 million range.
50 cent files bankruptcy… Now only worth 49 cent
More like a nickel to me. LOL
Bahahahahahhahhaahhahahaha
Toni Braxton has filed more than once. Pity, just have be so self indulgent and stupid.
Didnt he sell his stake in vitamin water around $100 – $200 million. Plus whatever he earned in music. Well, unless he signed a bad record $ made nothing from his music like TLC first contract. He might have beat Nicholas cage whom burned threw like $150 million crazy.
Finance is not that simple. Donald Trump had to claim bankruptcy because when the stock market crashed the properties that his companies owned were devalued to a point where his overhead was more than sales and revenue. Now that the market is back yup, he is worth over $4 Billion.
Toni Braxton had to file for bankruptcy twice because the first time was due to a really fucked up record contact, the same type from the same label as TLC. The second time was because she had a heart attack on stage, due to her Lupus. She could not fulfill the contract of her Las Vegas residency, so she had to pay $50 Million.
50 Cents is in the same situation. He has great businesses going but right now where the market is, his business assets have devalued to a point where his overhead is more than sales + revenue.
Bankruptcy is a financial tool that has a stigma. It is not a bad thing. 50 Cent will recover when the market is back up, Toni Braxton is, and TLC is doing just fine!
Yes 50 Cent got sued because of the sex tape scandal for $5M. That type of money is not the reason a person worth hundreds of millions would have to file bankruptcy. His properties are devalued and so are some of his market based business ventures here and over seas. When a person has that type of mont the diversity of his portfolio has to be international.
+Le Mont Bennett I'm not sure but since its due overhead getting higher than his sales + revenue. Would it not be better for chapter 7 versus chapter 11 bankruptcy.
Chapter 7, 11, 13 and 14 have different payment stipulations, and affect school fees, lawyer fees, and tax structure. Here is a good reference guide that explains bankruptcy in plain terms. http://www.ms-bankruptcy.com/bankruptcy-info/differences
Based on what he is filing, he will still retain his primary domicile, those where his kids are living, it will affect his taxes in positive ways for him, he will save money in court costs, and his payment structure and stipulations will allow him to keep most of his business and recover in the long run.+Bo Lawson
I will read up on it learning and gaining financial knowledge. Thanks for making it possible +Le Mont Bennett 😸.
+Bo Lawson no worries. Everyone in my family is a lawyer, except me, a combat medic in the army. Plus, I had to file for chapter 7 because of medical bills the VA Medical system did not absorb, even though I am a service connected, wheelchair bound disabled veteran.
Media is focusing their attention on 50 Cents' sex tape scandal because it is sensational, it sells more articles, papers, and it gets more advertising dollars. . Like I said before, $5 million is a suit is not the reason why a person worth hundreds of millions of dollars would file for a Chapter 11.
+Paul Spoerry
I'm still laughing! Too funny
So sad when you fly high you have to know your wings will be clipped.
Hi Paul I left u a message on Chat. And just wanted to tell you have a good night. *
Awwwww nighttime good vibes!
huh… the stock market crashed and devalued my property but I didn't get out of it until the property value went back up. WTF!? (actually, I know WTF… because of a court order refi to get my ex off the house I can't qualify for the government programs to adjust my loan) but still…
+Paul Spoerry Hug
Money issues stress me out, too.
Back atcha +Le Mont Bennett!