50 Cent Speaks on Chapter 11

While people try to figure out what’s really in rapper Curtis “50 Cent” Jackson’s pockets after news broke that the multi-business entrepreneur filed Chapter 11 bankruptcy, the artist is simply laughing about it and breaking down the scenario.

Currently hitting the promotional circuit for his upcoming film, Southpaw with Jake Gyllenhaal, the entertainment mogul is taking the hit as a move to protect his “financial future.”

“I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target. I don’t wanna be a bulls-eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”

The bankruptcy comes on the heels of a sex-tape scandal involving a female who filed a lawsuit claiming that 50 got hold of the tape and leaked it, in addition to adding voice commentary over the footage. A jury ordered the South Jamaica-Queens entertainer pay the woman $5 million.

As headlines made their rounds throughout yesterday’s news cycle, being the snarky and comedic rebel he is, 50 posted the below image on his Instagram:

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According to his lawyer, the personal filing still permits Jackson to continue with business as usual with his entertainment careers and various companies while reorganizing his coins.

Fif is pretty optimistic about the situation, adding that he’s in good company as he joins Walt Disney on the list of successful businessmen who have filed bankruptcy to protect future finance.

So is this in essence a one-up for 50’s ladder of success?