50 Cent Bankrupt!

[Martin_M]

Really surprised by this as I thought he was something of a shrewd businessman these days...

http://www.mirror.co.uk/3am/celebrity-news/50-cent...

[Funk]

All his assets will be elsewhere, I would suspect he's doing it to avoid coughing up the £3.2m, much like people fold limited companies?

[Hoofy]

Funk said:

All his assets will be elsewhere, I would suspect he's doing it to avoid coughing up the £3.2m, much like people fold limited companies?

They had better have quite a bit stashed away: https://www.gov.uk/bankruptcy/restrictions

[pincher]

He's probably quite glad that none of those restrictions will apply to him

[Hoofy]

pincher said:

He's probably quite glad that none of those restrictions will apply to him

Not really relevant as Funk was talking about limited companies, so presumably UK-based.

[anonymous-user]

He was worth 140 million in about 2010, that is some loss. He did make most of the money from vitamin water share.

[davepoth]

How can he be bankrupt? He'll always have 50 Cent to his name...

[robbocop33]

One person and one sound came into my head when i heard this.

[rohrl]

I doubt he's really "bankrupt" bankrupt. It's a Chapter 11 hearing which allows him to restructure his affairs.

[Muzzer79]

The Spruce goose said:

He was worth 140 million in about 2010, that is some loss. He did make most of the money from vitamin water share.

I thought this too.

Didn't he invest something like $1m in Vit Water at exactly the right time to turn it into something like $100m?

[aka_kerrly]

davepoth said:

How can he be bankrupt? He'll always have 50 Cent to his name...

[soad]

Muzzer79 said:

I thought this too.

Didn't he invest something like $1m in Vit Water at exactly the right time to turn it into something like $100m?

Chris Lighty was the architect behind that deal - making it happen.

One of Lighty's business acquaintances was Rohan Oza (a marketing executive who moved from Coca-Cola to a small beverage company called Glaceau)...

[HerrSchnell]

Funk said:

All his assets will be elsewhere

If I were the IRS I'd look in his car boots.

https://www.youtube.com/watch?v=JoOclsajGcE