50 Cent may have filed for Chapter 11 bankruptcy on Monday, but the Get Rich or Die Tryin’ rapper doesn’t seem all that worried about it.
“Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward,” the rapper told E! News on Monday while promoting Southpaw. “I got a decent legal team. You don’t have to worry.”
According to The Wall Street Journal, which broke the news of 50’s bankruptcy filing, the rapper (born Curtis James Jackson III) reported assets and debts between $10 million and $50 million. The news of his bankruptcy filing comes just a few days after he was ordered to pay $5 million to a woman who claimed he posted her sex tape without her permission.
“You know when you’re successful and stuff, you become a target,” 50 told E! “I don’t wanna be a bullseye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.”
In a statement on Monday, a lawyer for 50 said, “This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.”