fukk it. I wasn't going to say anything, but the consistency of misinformation here is too damn high! To 95% of you, just get up and click on even a wiki about equity, information asymmetry and the principal agent problem. Anyone claiming that these baiting articles and headlines provide hard evidence that 50 is just as broke as the rest of us, is a lunatic.
So, 50 cent is not broke; his equity is great, he just doesn't have the liquid assets to pay the court ordered damages following a couple of lawsuits. Which is precisely why he doesn't liquidate his assets and throw around his money. If he had super watery capital creditors could liquidate his assets easily if he did not have enough to cover the damages. So this strategy not only protects him, but also gives a wide range of freedom; in the case that he is sued and is ordered to pay damages, he can say 'oh I don't have enough', then file for bankruptcy, which works hugely in his favor because then he can negotiate to pay way less than ordered originally . He's got securities and mutual funds and blah blah blah. Furthermore, fiddy is not only a businessman, but he is a business owner. So, if he has these companies worth ten, twenty fold what he owes in damages (which he does), even if the damages exceeded his liquid assets (which they do), and he like liquidated an entire company (which he will not do, because there's no point at all), because the business and owners are discrete entities, the shared capital is a liability against the owners investments. So although for many of his business he isn't the sole owner, he is still an owner. So even after liquidating a company to pay like 5 million he would still end up with five or ten times that much in liquid assets which could then be taxed etc... So when he says 'restructuring', it's not like he's listing a house without walls or a roof, rotten and broken. He's just fukking throwin' some marble and granite and gold in that bytch. Financial restructuring is incredibly complicated. For many reasons. But it is absolutely necessary in this case.
Fiddy cent has damages exceeding his LIQUID assets. Instead of liquidating his tangible assets 'cars, home, 'chains', or liquidating his intangible assets, he applied for a form of bankruptcy which allows him the time to restructure his finances that not only prevents supplementary losses, but actually reduces the amount owed in damages.
Hence stating 'I take the jewelry and cars back to the store'... And hence him actually fukking taking that shyt back to the store. This whole ordeal, when it's over, will serve only to prove how clever this man is. The Post, Time and Business Insider, as well as obviously financially brilliant redditors, will do a full 180 and sing his praises. As they should.
A part of this decision to file for type 11 is industry stuff. Once this thing closes a lot of details previously unknown to the public will come into the fold.
tl;dr: fifty doesn't wanna pay you shyt. He really is fukking as rich as everyone says. His SMS audio company was not a flop compared to Dre. He owns the manufacturing operations of Disney related merchandise through SMS that make Elsa earbuds and Anna microphones.
The estimations of his net worth at around 100 million are not overinflated.
We have this strange fascination with people falling from grace. And it certainly makes a person who earns 30k a year feel better when someone like 50 loses his fortune. Which is ironic. But anyways.
50 has stated consistently in the past that he does not pay himself a lot of money. Because if he had all those liquid assets he would become a constant target; an easy mark. He is a very smart businessman, and a hustler.