[Hip Hop News Now] Is 50 Cent Broke?

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A recent bankruptcy filing by 50 Cent has sparked a whirlwind of hysteria in the entertainment industry and all who follow it. Now the self-proclaimed “King of New York” was quoted saying, “I take all of the jewelry and cars back to the stores.” Whoa!? A lot of onlookers had originally thought that Fif’s bankruptcy was a ploy to protect his assets from the $5 million he was ordered to pay in the case between him and Lastonia Leviston, the mother of Rick Ross‘ daughter.  This case stemmed from a sex-tape of Leviston and a former boyfriend that 50 used in a parody to throw jabs at Rick Ross.

Now things are even taking a sharper turn as Curtis Jackson aka 50 Cent testified in a Manhattan courtroom yesterday that his jewelry and cars are all for show.  Huh?  Fif who was listed by Forbes Magazine as one of the top five richest Hip Hop artists with a net worth of $155 million is now saying that his lifestyle is only a mirage.  During the hearing Jackson’s lawyer declares that his client is only worth $4.4 million dollars, which triggered his recent chapter 11 filing.  When the Judge asked 50 about selling 38 million records, 50 replied, “I only make 10 cents a record.”

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Either Fif is a better act than we ever knew or this is just another example of how treacherous this Hip Hop game can be.  What do you think?  Is 50 Cent deserving of an Oscar for his portrayal of a broke emcee or is he just another victim of the entertainment industry?  Please let us know by commenting below or by voicing your opinion on Twitter and Facebook.

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