50 Cent Bankruptcy by the numbers [WSJ]

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MusicConsulting

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Sensei said:
His net worth is 12 .76 million if you ask me. With minus the $1 million dollar loan he has on his Farmington mansion $7.25m mansion+$ 0.6m in other houses +$4.4m in business ventures +$0.5m +$4,3 in royalties = $16.3 m.His other assetts can't be worth that much.I still think he has more incurred debt from lawsuits and lawyers fees. It may be very much true he is hiding his other accounts but the fact is, he still doesn't have enough liquid assets to pay his debt. In the long run, paying off debt from a high interest bankruptcy loan would be much more damaging than not paying off his current debts in its current state. Also if he is in court fighting these lawsuits he still not going to have time to oversee his new businesses and ventures,which in turn would be falter tremoundously from this,time is money. And its that simple.
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I remember when I would see the sources for how much income Fif had. It was so janky. It is kind of fitting of someone who mocked anyone who had average sales and wasn't doing as well as he was success wise is experiencing the same type of situation.

I think you are on target w/ the numbers. Anytime someone gives me a number, I always subtract from that in Entertainment industry.

One last tell I think Hip Hop fans should know: the real money makers are not going to show photos on IG. All of the piles of cash we have seen posted on forums countless times, you can rent for movies,tv,video shoots or photo-ops. I bet you a lot of people have no clue about that. Your safe bet is this guy hedged too many investments thinking he was going to turn over them quick. An honest mistake from someone who ran a street enterprise. :beli:
 
wheywhey

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beaniemac said:
maybe I'm in the minority still, but is there no way he could have transferred the majority of his money overseas or to one of his companies where the bankruptcy courts couldn't touch it?
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The US Department of Justice and the IRS are signing agreements with foreign banks that will require the banks to reveal any accounts held by Americans. Switzerland and many Caribbean banks will no longer keep secret accounts for Americans.

-Tina Turner gave up her US citizenship in 2013 because she had a Swiss bank account.

-The Beanie Baby billionaire got caught hiding $24 million in a Swiss account. He avoided prison by paying $27 million in back taxes and a $53 million penalty.

-The former governor of New York, Elliot Spitzer, had to leave office when he took $4000 of his own money out of his own US bank account to pay a prostitute. With this bankruptcy, the feds and nosy bank tellers are all watching 50's every move.
 
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p00rky

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That's just sad. I am a fan but he should of spent less time beefing with people and trolling on social media. I knew as soon as he bought that house he fukked up.

I still think he's hiding money somewhere
 
CrimsonTider

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beaniemac said:
man, I don't know why entertainers ALWAYS wanna invest in tangible businesses. If ur a millionaire, you could invest in a mutual fund and if you get a modest growth of 8% annually, you're gonna make a killing because of the power of compound interest.
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Because they want to make more than modest money. Im sure they have some money doing that.
 
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Jack Trippa 3z company ho said:
50 pissed someone off lol.

These dudes aren't ballin like y'all think...it's not what you make, it's what you spend.
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Seriously, who put the light out on this nikka..its sad to see someone who was HUGE at one point in time to be exposed to the public like this..
 
General Mills

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Renzo said:
Seriously, who put the light out on this nikka..its sad to see someone who was HUGE at one point in time to be exposed to the public like this..
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I think he did it to himself. Stealing tech from Sleek Audio. Uploading a sex tape while narrating it to his own website. Not asking for permission? Both of those are just. . dumb. :snoop:
 
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