Many of you have heard by now that 50 cent filed for Chapter 11 Bankruptcy. Is 50cent really broke ? Hell no, he is using a strategic business move to delay paying his creditors. This comes after a court awarded Tia Kemp five million dollars for a leaked sex tape that 50 cent put out online. Is 50 cent really broke ? I am sure he is so far from broke you are just crying in your sleep. A Chapter 11 Bankruptcy is defined as follows, a debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.
So, the game plan here is to delay paying his creditors, and to delay paying Tia Kemp the five million dollars. As time goes on, Tia may seek to get a smaller sum of money in order to get paid sooner. 50 is not really broke he is just reorganizing his business. Many people in the African American community don’t really understand how the game of the rich is played so they talk shit, and hate when they don’t know how to play the real life game of monopoly. 50 is a smart dude so don’t count him out he just playing and having fun all day long.
please leave a comment I would love to hear what you think….
The show Empire has been nothing but stellar. Cookie Lyons played by (Taraij P. Henson) has been
the Bitch we all wanted her to be and then some. The series called Empire” has left millions on the edge of their seats every Wednesday night. Cookie Lyons the ex-wife of Lucious Lyons has shown that she is a boss in her own right.
Empire has taken a hideous from the television. But, the Empire tv show season two, should be back with a vengeance this fall with new guest host, and the same old crazy ass cast members. The show Empire showed black folks in a strange light with all there good and bad traits. Empire tv season two, I am sure will show a wide range of strange characters as well. Lucious, as we all know was betrayed by Cookie and other family members. Lucious is in jail now. But, I have a feeling he is going to come back with some firer that is going to make the devil scared of him.
I look forward to seeing this new season that is fast approaching…..
As co-creator and executive producer of Empire, Danny Strong’s behind-the-camera career has gone from seriously successful to stratospheric. Broadcast TV’s front-running show and the first drama in 21 years to build its …
Yazz decided not to offer any spoilers for the next season of “Empire,” which is rumored to have guest stars from the likes of Zac Efron to Oprah Winfrey. On the show, Yazz dates none other than supermodel Naomi Campbell, …
As many of you may know, the Rapper Rick Ross, was arrested on kidnapping and assault charges. Rick Ross posted bail to get
Rick Ross (Photo credit: Wikipedia)
out of jail, but used a number of tactics to get out of jail and not be a flight risk.
What I found very interesting, was that Rick Ross the rapper, who is suppose to be a multi millionaire, didn’t have two million dollars liquid cash available to bail himself out of jail without going through loop holes of getting equity out of the Evander Holyfield home, 500k cash, and a loan I think to the bond holder.
The music industry is a lie. There are more cats, who claim to be rich aka wealthy they are not as wealthy as they look. If you start looking at these cats when a crisis arouses you can really begin to understand why someone like Rick Ross, or Rhianna are making bad financial decisions, and or being beat out of their money by accounts and lawyers etc. Many folks feel like the music industry is dead. Many artist are not making any real money, so they are squeezing their artist out of their royalties or assets.
Rick Ross may or may not have real wealth, but according to my mentor AV Hodges there are two kinds of millionaires those that are liquid millionaires, and those that have to go through assets (house, cars, real estate) to get their money.
Rhianna, according to what I heard what the song “Bitch Better have my Money” is about the accountant who stole some of her money.
I posed this question on Facebook and got a fury of comments……
Jennifer MillerI know someone who’s a financial advisor who’s worked with blacks in entertainment and sports and he says that there are so many folks around these young people giving them poor guidance – even those who SHOULD be mentors who one might think is trustworthy.. an accountant or tax preparer for example.. they prey on blacks in these positions. Whites aren’t nearly as susceptible to this type of manipulation. On the other hand it’s a cultural thing too.. so we actively participate in our own demise as well by glorifying things like “balling out” and “making it rain” etc..
Ja WarIt’s not that surprising as many millionaires tend to have their reported wealth in assets as opposed to cash as an asset.
The thinking is that you probably will not need large sums of cash at any one time, so it makes sense to invest the money where you may realize a return and should you need the cash as in the original example given you could get it out of one or more of your non cash assets.This brings us to a question … how much (what percentage) of your overall net worth should you have in cash?
Jamal Shabazz HooksWould you give the state of Georgia 2 million cash for a bond and only get a percentage back when u hsve property along with other assets that equal such that cannot be takrn away or forfeited? Think about it. 2 millipn cash for the state?
Dion BooseCoolWater Coolwater Alexander Yea I don’t think there is that much money in hip hop music these days… If they aren’t touring than their well is dry.
Karen Realsuccessmom LeeIts always good to have someone very trustworthy in your camp. It would be nice to have Jay Z and some of the other people open up a training school to teach. Promotion production money management, all the tools they need to become successful and stay successful. Reach one teach one
Lisa Rowe-BrielOnly a handful of artists/entertainers are financially and fiscally responsible, most don’t think long-term, and have no concept of investments, accounting, insurance, etc., due to not being taught when they were young, nor bothered to learn as adults. Liquidity is a must, as well as, making better choices in life. In this day and age, people automatically see Color before Character, and the worst part of it all, is that Living Lavish without Financial Knowledge, only leads to ruin!!!
Wallace TaylorI think we have got this confused, this is not just rappers, this is the music industry in general. No one is buying records anymore
Deborah ChampagneIf you remember, Kandi Burrus, said on RHWOA that some artist lie about their wealth and status. Even the jewelry isn’t real.
I hope you begin to look at this for what it really is worth and start having table top conversations about wealth with your family and friends.
women during the course of his career as a comedian. As Bill ascended to the heights of the wealthy elite he began to get power and status in America, which for most black men is unheard of. Bill Cosby as he got older started to see his wealth could be used for power and personal gain. Many people remember back in the early 2ooo’s Bill tried to by NBC television. His efforts failed because he was not allowed to buy the television network.
Mr. Cosby had been successful in television with several hit productions like Fat Albert, The Huxtables, A Different World, and a host of other shows along with many hit series he personally stared in. As the years progress, Bill continued to try and make moves that would allow him the ability to gain power in the entertainment industry. Now, this brings us to the topic called 48 laws of power. One of the laws states that “you should never try to out shine your master,” which is exactly what Bill Cosby has been trying to do over the last several decades. As entertainment executives, continued to help Mr. Cosby get righter, and richer he continued to try to outshine those who made him the star he is today.
Everybody knows Hollywood is ran by the Jews, but Bill must of forgot and thought his money would get him a pass. When one try’s to out do the person who made you you are only asking for trouble. Bill Cosby has lost a lot of support from the black community, for his rants about black urban lifestyle over the last few years. African Americans really don’t resonate with Bill due to his criticizing black folks on the urban lifestyle that so many live.
Robert Greene is the author of The 48 Laws of Power. He said when he wrote the book” it was a defense mechanism against all the crooked things he saw going on in Hollywood.” Bill Cosby has put himself between a rock and a hard place, because now those in power want there money back, and they are going out of their way to damage Bill Cosby’s legacy at all cost.
Keving Bruce went to check out his current situation with academic advisors at Kennesaw State University of Georgia. When he entered the advisors office he ran into a serious problem when a white female name Abby Dawson started harassing him about leaving. According to the Source Magazine ” Mr. Bruce was in the waiting area, bidding his time before someone was available to speak with him, that’s when Abby Dawson the Director of Advising got involved.”
Mr. Bruce seemed very composed and polite during the whole ordeal, but took his complaints to channel two action news once he was addressed in such a nasty manner. The advisory department says Ms. Dawson was only following normal protocol what do you think.
Many have risen in the world of entertainment, but few have actually tried to take over. This leads us to one of the laws inside the 48 laws of Power “Never Try to Outshine the master.” In the world of entertainment, which is ran, owned, and controlled by the
Cover of Bill Cosby
Jews one must learn to never to outshine the person who made you.
As the case wit Bill Cosby, he somewhere in his career started to go for power when he tried to buy NBC. He also was trying to build some television networks to expand his reach of power. Those who ran NBC wasn’t having it, and so Bill was not even considered for the role of ownership. Boy Learn yo place !!!! I’m sure they were uttering these very words out there mouth.
I will keep this short, just remember don’t go play in the same sand box that was bought buy the neighbor.
Many have heard that Jay Z launched an online streaming service called Tidal. Jay z invested like 5o something million into the streaming service, and enlisted some top brass artist to be a part of the movement. Many artist are getting tired of companies like Spotify, not paying them for proper amount of money for digital streams. Jay z according to the Daily Beast reported this about the title streaming service.
Mr. Z had this to say : “The iTunes Store wasn’t built in a day. It took Spotify 9 years to be successful… We are here for the long haul. Please give us a chance to grow & get better. There are many big companies that are spending millions on a smear campaign. We are not anti-anyone, we are pro-artist & fan. We made Tidal for fans. We have more than just music. We have video, exclusive concerts, tickets for events early, live sports!… Tidal is where artists can give their fans more without the middlemen.”
Jay z is also receiving some competition from heavy hitters like ITunes, which has been said to be spending millions in a smear campaign to dismantle Jay Z’s Tidal service. Jay Z’ said state that “indie artist keep 100% of their music, and get 75royalty rate.” Jay Z looks to be in the running for a world of trouble against these corporate giants.
Musician Jay Z claimed on Twitter on Sunday night that “big companies” are “spending millions” on a “smear campaign” against his newly acquired music streaming company Tidal. Tidal has been facing a series of negative …
The hip hop and R&B community has grown over the years, but it also has seen its fair share of other cultures entering into it. As the years progress, we have seen more and more white artist come onto the scene, and grab the culture wit some flair. Artist like Justin Timberlake and Iggy Azalea have grown to become dominant forces in the culture of black music. Are record companies slowly taking black music and etching out black artist so the culture appears to be white soulful music ?
Is this a slow gradual process that has been going on for decades ? Rock and Roll use to be black music ! The blues used to be black music ! Rap used to be Black music. Now, we have had artist like Eminem, Third Bass, Vanilla Ice, and others give hip hop a big lift in the 90’s early 2000’s. And we love Em‘ for that, but the culture is still predominantly dominated by black artist. It seems
like more and more white artist, and other cultures are mastering black music, which leaves us wit the question what the hell do I need you for if he can do it “Nigga” ?
What many folks are seeing is the emergence of more, and more culture bandits in r&b and rap. Do you think the hip hop and r&b culture is being white washed by record companies ?
Kendrick Lamar has recently released his latest project called Pimp a Butterfly. Kendrick Lamar has given Black America something to think about wit this new album. Kendrick has grown into such a social activist artist that is starting to show up in his work. Kendrick has hit number one on the charts which shows people are looking for something new to fill their ears with.
(Art by Yann Couedor) Well, that didn’t take very long. Kendrick Lamar’s new album, To Pimp a Butterfly, has achieved a score of 96 on Metacritic, a website that aggregates reviews of music albums from major newpapers,…
In piecing together his new album, Kendrick Lamar left certain things behind. The 27-year-old Compton rapper has largely abandoned contemporary hip-hop structures in favor of a cosmic splat of jazz, soul, and funk.