From 50 cents to 100 mil and back to zero cents

[Ditch]

http://blogs.wsj.com/bankruptcy/2015/07/13/rapper-50-cent-files-for-bankruptcy/tab/comments/

Shows you can take the boy outta hood, but you cannot take the hood outta boy.

No more shopping in the candy store for this POS.

 

[newwurldmn]

That's surprising because he was hailed as being very financially astute. He made over a hundred million on vitamin water's sale to Coke. They had him on CNBC and he said that he bought Mike Tyson's home as a reminder of what can happen.

 

[FCXoptions]

I highly doubt that will be the end of him. I believe he had an awesome deal with Vitamin water with a decent ownership stake. I'm sure he will be doing just fine. He is probably doing this to avoid paying the $5 million lawsuit as best as he can.

Just looked it up and when he sold his stake in Vitamin Water to KO, it was estimated to be worth anywhere from $100m-400m, huge range, but regardless I'm sure he will still be quite rich in the end. I remember in 2010 or 2011 him tweeting about penny stocks and it being reported he made some serious cash off of it. Just a pump and dump.

 

[Ditch]

He is probably doing this to avoid paying the $5 million lawsuit as best as he can.

Assuming he can pony up the 5 m, he will be committing bankruptcy fraud.

 

[Fractals 'R Us]

Maybe he'll take his money all underground like OJ Simpson did then get screwed over cause life is tough like that..

 

[Dolemite]

In this day and age I don't know how anyone can expect to live off of $100M. Poor guy. Maybe we can start a go fund me for him?

 

[marketsurfer]

Its just a business reoranization ploy. Trump did it often so do many more mainstream folks. Chapter 11 is a far cry from chapter 7. surf

 

[S2007S]

hes not bankrupt, its chapter 11......

 

[Tsing Tao]

This thread is rayciss. Careful, or Nine_ender will report you.

 

[Clubber Lang]

He's just using the system to avoid both a 17MM and 5MM lawsuit verdicts against him.
He was worth $150,000,000 after taxes from the Formula 50 deal and his record contracts in 2007.
I believe some underwear company just inked him to a multimillion dollar deal very recently and he has a new movie coming out in a few months.
My guess is he's still sitting on 50MM+ in assets (still a far cry from 150MM though)