50 Cent files for bankruptcy

Home ▸ Archive ▸ Serious Business ▸ 50 Cent files for bankruptcy
Spock's avatar

Spock

Senior Member

2,853 posts
Jul 13, 2015 3:52 PM
http://www.bbc.com/news/business-33514174

At one point he was worth half billion, made $100 million when Coke bought vitamin water.

What a dumbass
Jul 13, 2015 3:52pm
Azubuike24's avatar

Azubuike24

Senior Member

15,933 posts
Jul 13, 2015 4:05 PM
It's amazing that these guys can lose it all, and usually manage to do so past their "entertainment" prime. It's gotta be a lonely and depressing feeling.
Jul 13, 2015 4:05pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Jul 13, 2015 4:07 PM
To the OP: he's not broke, and the article makes that obvious. He filed Chapter 11 to stay any proceedings against his assets stemming from the lawsuit he just lost. This happens with businesses all the time.

Donald Trump has filed Chapter 11 in multiple of his holdings. You think he's broke?
Jul 13, 2015 4:07pm
rmolin73's avatar

rmolin73

Senior Member

4,278 posts
Jul 13, 2015 4:09 PM
I don't think cc runner/Spock read the article. What a dumbass yet you'll vote for Trump who's done the exact same thing multiple times.
Jul 13, 2015 4:09pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Jul 13, 2015 4:10 PM
rmolin73;1740613 wrote:I don't think cc runner/Spock read the article.
Agreed
Jul 13, 2015 4:10pm
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Jul 13, 2015 4:20 PM
rmolin73;1740613 wrote:I don't think cc runner/Spock read the article. What a dumbass yet you'll vote for Trump who's done the exact same thing multiple times.
Donald Trump is white though.
Jul 13, 2015 4:20pm
like_that's avatar

like_that

1st Team All-PWN

26,625 posts
Jul 13, 2015 4:21 PM
ZWICK 4 PREZ;1740615 wrote:Donald Trump is white though.
Only took 6 posts in LOL.
Jul 13, 2015 4:21pm
sleeper's avatar

sleeper

Legend

27,879 posts
Jul 13, 2015 4:29 PM
$10 says he never got off welfare anyway.
Jul 13, 2015 4:29pm
MontyBrunswick's avatar

MontyBrunswick

Senior Member

846 posts
Jul 13, 2015 4:35 PM
Spock;1740610 wrote:
What a dumbass
Says the guy who doesn't know how bankruptcy works.

He filed for bankruptcy protection, which will buy him time to liquidate assets to pay creditors.

50 ain't broke.
Jul 13, 2015 4:35pm
Heretic's avatar

Heretic

Son of the Sun

18,820 posts
Jul 13, 2015 4:45 PM
rmolin73;1740613 wrote:I don't think cc runner/Spock read the article. What a dumbass yet you'll vote for Trump who's done the exact same thing multiple times.
Well, he is his own particular blend of stupidity.
Jul 13, 2015 4:45pm
Q

QuakerOats

Senior Member

8,740 posts
Jul 13, 2015 5:04 PM
rmolin73;1740613 wrote:I don't think cc runner/Spock read the article. What a dumbass yet you'll vote for Trump who's done the exact same thing multiple times.

Actually it is why you should vote for him; it is what the US needs to eliminate the $18 trillion in debt it holds, only then to be released after it it has a positive cash flow annual budget in order to prevent the debt from recurring. A guy like him understands the situation. The sooner we face reality, the better.


By the way, will creditors even get fiddy cents on the dollar from the rapper.
Jul 13, 2015 5:04pm
G

Gardens35

Senior Member

4,929 posts
Jul 13, 2015 5:08 PM
Check out the hook while my D J revolves it.
Jul 13, 2015 5:08pm
MontyBrunswick's avatar

MontyBrunswick

Senior Member

846 posts
Jul 13, 2015 5:24 PM
Spock;1740620 wrote:http://www.foxnews.com/entertainment/2015/07/13/50-cent-is-centsless-rapper-declares-bankruptcy/
Read some more. He owes what he is worth in debt. That means you have zero money.
It doesn't say that...it says:
But the initial Chapter 11, Connecticut bankruptcy filing says Jackson has $10 to $50 million in assets and $10 to $50 million in liabilities.
So if he has $10m in debt and $40m in assets, he doesn't have zero money.

Perhaps you should brush up on your reading comprehension.
Jul 13, 2015 5:24pm
iclfan2's avatar

iclfan2

Reppin' the 330/216/843

6,360 posts
Jul 13, 2015 6:43 PM
If he only had $50m in assets he is still a dunbass. Also, did trump ever file personal bankruptcy? Much different than a corp you run filing bankruptcy.


Sent from my iPhone using Tapatalk
Jul 13, 2015 6:43pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Jul 13, 2015 7:21 PM
iclfan2;1740629 wrote:Also, did trump ever file personal bankruptcy? Much different than a corp you run filing bankruptcy.
Irrelevant.

50 Cent filed Chapter 11, which is what you're referring to in the latter part of your post.
Jul 13, 2015 7:21pm
Dr Winston O'Boogie's avatar

Dr Winston O'Boogie

Senior Member

1,799 posts
Jul 13, 2015 7:48 PM
Two minutes ago: Knew 50-Cent from some music video from 8 years ago. Also had no particular knowledge about bankruptcy

Presently: Have passionate feelings about 50-Cent and belittle others who don't understand bankruptcy the way I do.

Only on the interwebs.
Jul 13, 2015 7:48pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Jul 13, 2015 8:03 PM
Dr Winston O'Boogie;1740639 wrote:Two minutes ago: Knew 50-Cent from some music video from 8 years ago. Also had no particular knowledge about bankruptcy

Presently: Have passionate feelings about 50-Cent and belittle others who don't understand bankruptcy the way I do.

Only on the interwebs.
Who are you referring to?
Jul 13, 2015 8:03pm
W

Wolves of Babylon

Senior Member

408 posts
Jul 13, 2015 8:22 PM
lhslep134;1740640 wrote:Who are you referring to?
He's referring to YOU!!!!!!!

Sent from my VS986 using Tapatalk
Jul 13, 2015 8:22pm
rmolin73's avatar

rmolin73

Senior Member

4,278 posts
Jul 13, 2015 8:42 PM
iclfan2;1740629 wrote:If he only had $50m in assets he is still a dunbass. Also, did trump ever file personal bankruptcy? Much different than a corp you run filing bankruptcy.


Sent from my iPhone using Tapatalk
Research Chapter 11 Bankruptcy
Jul 13, 2015 8:42pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Jul 13, 2015 8:52 PM
Wolves of Babylon;1740644 wrote:He's referring to YOU!!!!!!!
That wouldn't make any sense for him to be referring to me, considering part of my job is being a bankruptcy attorney and dealing with Chapter 11 cases.
Jul 13, 2015 8:52pm
R

rydawg5

Senior Member

2,639 posts
Jul 13, 2015 10:52 PM
Isn't he the guy that sings "You can hate me now"
Jul 13, 2015 10:52pm
iclfan2's avatar

iclfan2

Reppin' the 330/216/843

6,360 posts
Jul 13, 2015 11:10 PM
lhslep134;1740634 wrote:Irrelevant.

50 Cent filed Chapter 11, which is what you're referring to in the latter part of your post.
I get the difference in types of bankruptcies, but how is it irrelevant if it is a personal bankruptcy or a corporation? I get it's a reorg with 11, but I can't imagine that a far off corp you are related to files it vs you personally filing it, holds the same weight. It's an honest question, since you obviously no more about it. I also get that it is mostly a ploy to not pay his court fees.

My main point was 1) trump never filed personal bankruptcy, so who cares if some of his corporations did, he's still a billionaire, and 2) if you sold a shit ton of records and made close to $100M with vitamin water, how do you only have $50m left.


Sent from my iPhone using Tapatalk
Jul 13, 2015 11:10pm
rmolin73's avatar

rmolin73

Senior Member

4,278 posts
Jul 14, 2015 7:13 AM
Azubuike24;1740611 wrote:It's amazing that these guys lose it all, and usually manage to do so past their "entertainment" prime. It's gotta be a lonely and depressing feeling.
You are aware that he is a pretty good actor? So I think he's still in his prime.
Jul 14, 2015 7:13am