50 Cent files for bankruptcy, is he done with boxing?
The boxing game can be unforgiving to the participants, both in the ring and out. Rapper 50 Cent tried his hand on the promotional side, and it seems, he’s finally thrown in the towel.
The man born Curtis Jackson filed for Chapter 11 bankruptcy protection on Monday, and it is being speculated that the bankruptcy move came about in relation to the Friday judgement against the entrepeneur, wherein he was ordered to pay a woman $5 million because, the court decided, he posted a sex tape in which she appeared. That effort came about supposedly as part of a beef with a rival rapper.
One might think him declaring bankruptcy means he’s broke; au contraire, I think. E News saw documents that said he has assets adding up to between $10 and $50 million…and liabilities in the same wide range ballpark. He has made no indication and I have no whispers that he is insolvent.
The old joke came to mind…What’s the quickest way to make a million bucks in boxing? Start with two million and proceed from there…
I reached out to a rep for the rapper, to see where he stands in the boxing business, or he has quit on his stool, and will insert a reply if one arrives.