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Bankrupt
50 Cent 'returns cars and jewellery when he's finished with them'
He denied owning many luxury items.
50 CENT DOWNPLAYED his wealth on as he testified in court about his finances, business deals and the media attention surrounding his recent bankruptcy filing.
The multiplatinum-selling artist, born Curtis Jackson III and ranked by Forbes as one of hip-hop’s five richest artists, appeared in Manhattan state Supreme Court in proceedings to decide possible additional damages in an invasion-of-privacy case.
A jury has already ordered him to pay $5 million (€4.57 million) in damages in a lawsuit brought by a woman who said he didn’t have her permission when he released a sex tape she made with a boyfriend.
Questioned by a lawyer for the woman, Lastonia Leviston, the musician-actor denied owning many luxury items — including expensive cars and flashy jewellery — saying he rents, borrows and leases instead.
“It’s a borrowed piece of jewellery from the jeweler,” he told Leviston’s lawyer, Philip Freidin, when asked about a photo of a 65-karat ring he posted on his Instagram account.
Leviston sued the Get Rich or Die Tryin’ rapper after a 13-minute video appeared online showing a wig-wearing 50 Cent crudely narrating and taunting his rival Rick Ross, who was not in the video but has a daughter with Leviston.
At the time the video surfaced, Ross and 50 Cent were trading barbs via video, lyrics and interviews.
Jackson has said Leviston’s then-boyfriend gave him the 2008 tape and that, while he didn’t actually post it online, the boyfriend said she didn’t mind if he did.
“I’m sorry if you feel like I hurt you,” he told Leviston, who was sitting in the gallery.
Days after the jury ordered he pay $5 million, Jackson filed for personal bankruptcy protection in Connecticut. That filing lists his assets and liabilities between $10 million and $50 million (€9 million and €46 million).
On Tuesday, his lawyer, James Renard, said he was worth $4.4 million.
Under questioning from Freidin, Jackson said he has been paid as much as $100,000 (€91,000) for appearing at a nightclub and in the movie Spy. But he was less revealing about how much he earned from various partnerships, licensing agreements and business deals with larger corporations such as Walt Disney, Intel and Reebok.
“You have to ask my accountant,” he said when asked whether he earned $100 million when vitaminwater was purchased by The Coca-Cola Co. in 2007.
The 40-year-old said he’d never done anything to deny Forbes’ valuation of his net-worth at $155 million (€141 million).
Read: 50 cent doesn’t have a dollar to his name >
