Jay Z buys Swedish music service to take on Beats, Spotify
Jay Z is expanding in music streaming to take on Spotify Ltd. and Apple Inc.’s…
Last month, 50 Cent filed papers saying that he had only $16 million in assets against $36 million in liabilities.
It turns out he was under reporting his assets by a factor of four. And this is notgood news for 50 Cent.
The Daily Mail has obtained documents stating 50 has $64 million in assets.
Appraisers examining Fif’s finances discovered that he had $10 million in checking and stocks, $44 million in businesses, and $10 million in real estate and personal property.
50 Cent’s two biggest creditors are Rick Ross’s baby mama Lastonia Leviston ($7 million) and his ex-headphone partners ($17 million.)
50 declared bankruptcy to avoid paying them. But given this latest finding it stands to reason the judge is going to reject Fif’s bankruptcy claim and order him to sell off some of his businesses and properties so he can make Leviston and the rest right.
Judge Ann Nevins has already stated that she has concerns about allegations of nondisclosure and a lack of transparency in the case, and has ordered 50 to come to court to explain the photos of cash he keeps posting on his Instagram page.