He's trying to show people how you can make millions and be left with only 50 cent a few years later.
How many haircuts can you get for $1000 a month? I don't spend $3000 a year on clothing for a family of 4. Don't feel sorry for him at all.
He's not broke. He strategically has declared bankruptcy similar to what Donald Trump has done in the past.
Basically. People think Bankruptcy means broke Which is rarely the case when you dealing with millionaires I think Well . . not broke like poor folx broke Rocket River
He had 150 mil at one point. If he "just" spend 108k a month he would never be broke in his entire file.
Begs the Question What does it mean to be WORTH 150 Million By and Large that does not mean that he can just go and grab 150 million and cash and then roll in it Scrooge McDuck style Mostly non liquid assets i'd guess Rocket River
There's a lot that doesn't make sense in that article. The monthly expenses listed, including his $17,400 mortgage, only adds up to $35,400. But the heading says he has $108,000 monthly expenses. Where is the remainder coming from? They seem to list the heavy hitters (entertainment, mortgage, clothing, etc)...so there is $72,000 worth of monthly miscellaneous expenses? Doesn't add up. And it says he pays $3000 on wardrobe (which I assume includes jewelry) but then later it says most of his jewelry is borrowed. I did find it interesting that he recently was instructed to pay some girl $7 million from a civil court case. Makes me wonder if part of the decision to file for bankruptcy is so he can try to get out of paying her.
He filed for a Chapter 11, likely under the brand "50 cent" and not Curtis Jackson. Some one with a corporate law pedigree could probably chime in with more details. Source: How is Donald Trump Able to File for Bankruptcy So Many Times?
he's not broke this is chapter 11, restructuring of assets. He doesn't have all his money tied up in liquid assets, which works in his favor for this lawsuit. better explanation: https://www.reddit.com/r/Music/comm...tifies_his_lifestyle_is_an_illusion_i/ctbqgal
That's exactly why he filed for Chapter 11 Bankruptcy. He has the money but it's tied up in illiquid assets he would have to sell (likely investments at a loss or not as much a gain as he could get) to pay for the lawsuit. So he files for bankruptcy so he can move around money properly.
