Talk to a Bankruptcy Lawyer Today.
Evening and Weekend Appointments Available.

50 Cent shows off new African home while going through bankruptcy

Superstar rapper 50 Cent submitted his Chapter 11 bankruptcy filing last July. However, it appears that he still has enough money for a new residence in Africa. The 40-year-old rapper posted an Instagram photo last week in order to show off the new home.

50 Cent told his followers that his new home in Africa was almost done. He said he plans to have a crazy housewarming party after it is finished.

It is unusual that the rapper, who recently filed for Chapter 11 bankruptcy, would be talking about a new home in Africa. The rapper filed for Chapter 11 as a protective measure, after a judge ordered him to pay $5 million in damages to a woman who appeared in a sex tape with him in 2009. Allegedly, the rapper did not get the woman's permission before he posted the sex tape to the internet.

50 Cent confirmed with E! News that he filed for bankruptcy as a protective measure. He said that he did what any good businessperson would do considering his situation. He said that his success has made him a target, and he does not simply want to be a bull's-eye. He said that he does not want to be seen as a person who people believe they can target with any random lawsuit.

There are a lot of reasons why individuals might file for Chapter 11. As a protective measure against needing to pay a large financial settlement is one of many reasons. Other reasons might relate to financial insolvency, overdue bills that are too big to ever pay off, and more. By speaking with an Ohio bankruptcy attorney, individuals can gain a sense for whether bankruptcy might be right for them.

Source: The Huffington Post, "50 Cent Shows Off New Home In Africa After Filing For Bankruptcy," Stephanie Marcus, accessed Sep. 16, 2015

No Comments

Leave a comment
Comment Information

Contact The Rose Law Office Today For A FREE Initial Consultation

Phone 513-621-7902
Fax 513-621-6402

Office Locations

The Rose Law Office
35 East 7th Street,
Suite 610

Cincinnati, Ohio 45202

Phone: 513-621-7902
Fax: 513-621-6402
Cincinnati Law Office Map

The Rose Law Office
6020 Cheviot Road
Colerain, OH 45247

Phone: 513-621-7902
Fax: 513-621-6402
Colerain Law Office Map