50 Cent Downplays Bankruptcy Filing: ‘I’m Taking Precautions’ | News Entertainment

50 Cent Downplays Bankruptcy Filing: ‘I’m Taking Precautions’

14 Jul 2015 | Author: | No comments yet »

50 Cent Downplays Bankruptcy Filing: ‘I’m Taking Precautions’.

Curtis Jackson III, who filed for bankruptcy Monday, is making the rounds promoting his turn in the boxing film “Southpaw” alongside Jake Gyllenhaal, Forest Whitaker and Rachel McAdams, out July 24. HARTFORD, Conn. (AP) — A woman who won a $5 million judgment against 50 Cent is asking that her invasion-of-privacy case be allowed to go forward despite a bankruptcy filing by the rapper.The rapper and Southpaw actor filed for Chapter 11 bankruptcy protection on Monday, and later posted a photo on Instagram of himself standing next to a Smart car.

“I’m taking the precautions that any other good businessperson would take in this situation,” the rapper, whose real name is Curtis Jackson, was quoted as saying by eonline.com. And it came as shocking news to readers of the New York Times’s Style offerings, where the paper landed a July 8 profile of Jackson under the headline “50 Cent, Renaissance Man” by Brooks Barnes.

Cent – real name Curtis James Jackson III – posted the shot after news of his bankruptcy – claiming ‘debts and assets in the range of $10m-$50m’ – emerged on Monday. Last week, a US-based jury awarded $5 million to a woman in Florida named Lastonia Leviston, who said he humiliated her by posting a sex tape of her and another man online. “You know when you’re successful and stuff, you become a target. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.” Jackson echoed the sentiment of his lawyer, William A.

This is a guy who has prided himself on a – everything from a $300,000 Lamborghini Murcielago to a Bentley Mulsanne to a pair of Chevrolet Suburbans with bombproof undercarriages, built for the Iraq war. Jackson, 40, has exceptional business instincts,” writes Barnes. “A former crack cocaine dealer who has been shot nine times, he has sold more than 22 million albums, and a new one, ‘Street King Immortal,’ arrives in the fall. While Jackson did not address the suit at the Southpaw junket, he went on to explain his filing for bankruptcy as business-as-usual. “Walt Disney has filed bankruptcy.

What they are is insolvent, which means unable to pay all one’s debts as they become due, and that is precisely what the bankruptcy laws are designed to address.’ You don’t have to worry.” Per Brewer’s statement, Jackson’s various business ventures and his work as an entertainer will continue as he restructures his finances. And he owns part of a vodka brand and Frigo, a line of luxury men’s underwear.” The thrust of the story, to be fair, didn’t bore in on the rapper’s personal ledger, but rather his pursuit of movie roles. “[P]erhaps no musician lately has pursued Hollywood with the tenacity of Mr. She has asked the bankruptcy court to lift the shield of chapter 11 that’s currently protecting the rapper from her lawsuit, in which a jury awarded her $5 million and was going to consider additional damages. In Forbes’ 2015 rundown of Hip-Hop’s Wealthiest Artists, the magazine estimated Jackson’s current net worth at $155 million, enough to place him fourth on the list. 50 Cent’s last studio album, Animal Ambition, arrived in September 2014, and his next, Street King Immortal, is tentatively slated for September. 2015 may not bring everything that Back to the Future II promised it would: flying cars, self-lacing shoes, we don’t see ’em happening over the next 12 months. (Then again, don’t bet against Nike.) But this year will definitely pack plenty of punch when it comes to cultural happenings.

Mad Max will roar back out of the apocalypse while Mad Men rides off into the sunset, rock’s Antichrist Superstar and hip-hop’s Yeezus will rise again. Well, yes, says the editor who worked on the story. “Brooks Barnes wrote a wonderful profile of 50 Cent for Men’s Style that showed an unexpected side to him, while focusing on the ups and downs of his acting career,” notes Jim Windolf, who edits the paper’s Men’s Style section. “I was very happy to have it for the section.

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