It’s been a weird year for 50 Cent: back in July the guy publicly filed for bankruptcy, but ever since then he’s been uploading photos of himself flaunting insane amounts of cash on Instagram. However, according to his Chapter 11 petition while his assets are between $10-50 million, his liabilities are approximately the same.
So is 50 Cent just fronting, or is he not actually broke?
If a new report by Daily Mail is to be believed, the rap artist’s finances are happily in the green, with over $64 million in assets, $10 million in checking/stocks and a monthly paycheck of $184,000:
Last month, he filed documents in the bankruptcy stating he only had $16 million in assets.
However, it appears appraisers checked into it all – and found his assets total over $64 million and that he only has liabilities totaling more than $36 million.
In addition, 50 Cent’s current monthly income is $184,000-plus. The appraisers also valued his home goods to $131,000 including $49,000 in jewelry alone.
Appraisers found he has over $10 million in checking and stocks as well as his various G-Unit and other business’ which are worth over $44 million.
Don’t think that he’s getting off easy on everything though – Judge Ann Nevins is reportedly “concerned over his actual need for bankruptcy” and has called upon 50 to explain why his Instagram is full of him practically bathing in swimming pools full of cash.
‘I’m concerned about allegations of nondisclosure and a lack of transparency in the case,’ bankruptcy judge Nevins said at a hearing in Hartford, Connecticut.
‘There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.’(via)
50, of course, has yet to respond.
[H/T Daily Mail]