Remember when 50 Cent flaunted stacks of hundred-dollar bills on Instagram and we were all left wondering, what happened to that “bankruptcy” thing?
Well, it turns out the rapper may have been facing the struggle after all. Fifty declared that the stacks of money he flaunted were fake, after the judge in his bankruptcy case demanded an explanation. “I’m concerned about allegations of nondisclosure and a lack of transparency in the case,” Judge Ann Nevins said.
In a written declaration filed on Tuesday, 50 claimed the cash was prop money used for photoshoots to maintain his “brand.” The document read:
“Hip-hop culture is widely recognized as aspirational in nature. The standard by which artists and fans engage is commonly tied to money, jewelry, products and advertising over social media.
Products and brands are now marketed through social media as an effective way to engage with consumers.
Just because I am sensitive to the needs of maintaining my brand does not mean that I am hiding assets or that I have lied on my filings in this Bankruptcy Case, neither of which is true.”
This all stemmed from three images 50 shared on the ‘Gram – one showing a bottle of Effen Vodka (which he is paid to endorse) surrounded by stacks, another in which he spells out the word “broke” with hundred-dollar bills, and the last shows 50 lying in a bed surrounded by money.
They were flagged by Lastonia Leviston, the mother of Rick Ross’ child, who is still awaiting a payout from 50 after she won a $7 million dollar lawsuit against him stemming from the publishing of her sex tape.
SOURCE: Daily Mail | PHOTO CREDIT: Instagram
50 Cent's Most Lucrative Business Endeavors
8 photos Launch gallery
1. SMS Audio: This company that primarily sells headphones was founded by 50 Cent in 2011. In the same year, the company acquired Kono Audio. As far as the competition goes, he once said Dr. Dre's "Beats is Nike. We're Adidas."
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2. Power: 50 Cent is into all sorts of entertainment. Though he obviously stars in the Starz hit series "Power," did you know he also produced the show? "Power" holds the "most viewers ever for a Starz original series" record.
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3. Vodka: 50 Cent has recently partnered with Effen Vodka. The "ultra-premium" liquor comes in lots of flavors, including Black Cherry, Dutch Raspberry, Cucumber, and Salted Caramel.
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4. SMS Promotions: 50 Cent started this boxing promotional company after his joint project with Floyd Mayweather, TMT Promotions, failed. Though SMS Promotions reportedly declared bankruptcy this year, it previously promoted boxers such as Andre Dirrell, Chris Galeano, and more.
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5. SK Energy: Street King is an energy drink created by 50 Cent and his partner Chris Clarke. It boasts a variety of flavors, and was rebranded as "SK Energy" in 2012.
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6. Frigo Underwear: 50 Cent put his insane body on full display in a series of advertisments for the underwear company this year.
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7. VitaminWater: 50 Cent made $100 million after selling his stake in the privately owned company.
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8. G-unit: We can't forget about the clothing company that 50 Cent started in 2003 and relaunched in 2010. 50 maintains full ownership of the clothing line.
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