50 Cent, also known as Curtis James Jakson III in real life, filed bankruptcy in July after he was found gulity for the online leakage of Lastonia Leviston's sex tape. This week, he hit the headlines after he made a bombshell about his impending mansion in Africa.
His recent social media post led to online backlash, raising questions on whether he is really bankrupt. According to BBC News, it's not clear where the mansion is located in Africa. 50 Cent's video shows the apparent new digs still in construction. The huge mansion is complete with a swimming pool while workers were seen outside his reported home.
"My crib is almost finished in AFRICA," 50 Cent wrote to his 6.2 million Instagram followers. "I'm gonna have the craziest housewarming party ever. I'll explain later. I got a good life, man."
Back in July, the 40-year-old filed for chapter 11 protection in the U.S. Bankruptcy Court in Hartford, Connecticut. Reports have it that he was charged of paying $5 million in punitive damages to Lastonia Leviston, rapper Rick Ross's ex-girlfriend after the exposure of the said tape. Based on his bankruptcy filing, he only has assets amounting to $10 million and $50 million, WSJ reports.
Soon after his bankruptcy, 50 Cent claimed that all massive collection of gold jewelries was just borrowed, and his Lamborghinis and other signature cars were only rented. He also said that he's just earning 10 cents per record while concluding that his rich lifestyle is purely entertainment. His claims seem to be contradicting after he was named as one of the world's richest rapper by Forbes in May.
50 Cent has ventured in different markets. He has a luxury brand of headphones and energy drink, and metal excavation. He also earned $4.1 billion in 2007 after Coca Cola bought his Glaceau Vitaminwater company, which he is the original maker. Business critics assume that the rapper has kept substantial amount of money from the deal ranging from $40 million and $100 million.
"It is well known that Mr. Jackson, 40, has exceptional business instincts. 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. He is the chief executive of G-Unit Records. He founded a headphones company, SMS Audio. And he owns part of a vodka brand and Frigo, a line of luxury men's underwear, " New York Times reports.
The rapper was named as one of the world's highest-selling rapper. He has all the reasons to be called rich and famous, but why he's claiming he's bankrupt? Do you think 50 Cent is really bankrupt after his recent African home esposure?
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