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.
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Celebrities Who Went Bankrupt