For a couple of weeks, I've been following the story of rapper 50 Cent. I admit, I'm not into Rap music and I don't get much out of the thug culture.
50 Cent is undergoing bankruptcy business. A number of entertainers over the past decade.....get themselves back into the news and there's some sordid tale about their financial situation. It generally gets to my curious side as to how people fall from a stable point with so much money. In the case of 50 Cent....it's turned out to be a different kind of story.
This whole bankruptcy thing comes up because 50 Cent released a sex tape of some gal, and she took him to court and wanted him to pay up (five million dollars actually). The court was going with her position and 50 Cent said fine, but there's no money and if you force this....he'd just declare bankruptcy. The court didn't really believe him.
Well....he's laid out the whole thing. The lifestyle and rich nature of 50 Cent.....was bogus.
All of these gold chains that he had? Well.....there's only two or three chains. The gimmick is that he reuses the two or three....having someone do some detail work and make it look different, so people think he's got dozens of unique gold chains, when it's just not true. Total value? Maybe $60k to $80k.
The luxury car collection that he showed for photos? They were rentals.....he never owned them.
There's a list of episodes like this.....where he impressed the news media and they talked up his lifestyle when he just wasn't that rich. The Rap music culture? By the time each producer and studio gets their cut, then IRS gets their cut, and the manager gets his cut....the star doesn't really have much to talk about. It probably pays for a better than average lifestyle.....but not the fancy millioniare-style that you would imagine.
The gal suing for five million dollars? I think by the end....as they collect the gold chains and some pocket cash.....she'll be lucky to get $200,000 of the five million dollars.
As for the future of 50 Cent? I'm not sure. Maybe there's still some tunes, and a movie role or two. Maybe he ought to do a reality series.....how to look fake but rich.