InstagramIt turns out that far from being bankrupt, 50 Cent is allegedly sitting on an absolute fortune.
You may remember that back in July he publicly filed for bankruptcy, but since then he’s posted numerous photos of himself flaunting stacks of cash on Instagram.
According to his filed petition he reckons his assets are between $10-50 million (£7-35 million) – which seems like quite a big margin – but his debts are approximately the same.
However, the Daily Mail has reported that – far from being close to the bread line – the rap artist’s finances are actually very healthy.
According to the report he actually has over $64 million (£46 million) in assets, $10 million (£7 million) in checking/stocks and a monthly salary of $184,000 (£132,000).
Investigators checked into his claim and found that – rather than the debts he claims – he only has liabilities of around $36 million (£26 million).
The investigators valued his home goods at around $131,000 (£94,000) including $49,000 (£35,000) in jewellery alone.
He also has business interests which are estimated to be worth over $44 million (£31 million). However, his – lets call them ‘miscalculations’ – could’ve landed him in trouble.
Judge Ann Nevins is reportedly ‘concerned over his actual need for bankruptcy’ and has called upon 50 to explain why his Instagram is full of him practically bathing in swimming pools full of cash.
“I’m concerned about allegations of nondisclosure and a lack of transparency in the case,” judge Nevins said at a hearing in Hartford, Connecticut.
She went on to say:
There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.
50 is yet to respond.
