By Hassan Sanusi, with agency reports
50 Cent recently filed for bankruptcy protection and put in court papers to state he has assets and debts ranging from $10m to $50m.
The move came just days after a court ruled that the ‘Candy Shop’ hitmaker should pay $5 million to a woman who sued him in a sex tape case and he has now insisted he’s just taking ‘precautions’ with the documentation.
Speaking to E! News, 50 said: ‘I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target. I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.’
The ‘In Da Club’ star went on to insist his fans ‘shouldn’t worry’ as other wealthy figures like Walt Disney and Donald Trump have filed for bankruptcy in past too.
He added: ‘Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganising your finances, but it does stop things from moving forward that you don’t want moving forward. I got a decent legal team. You don’t have to worry.’
Only two months ago, Forbes estimates indicate that 50 Cent’s net worth is around $155m.
