Over Labor Day weekend, bankrupt rapper and businessman 50 Cent posted a video to his Instagram followers showing them what seems to be a brand new house in Africa.
Despite not revealing its exact location, 50 Cent said that his‘crib is almost finished in AFRICA. I’m going to have the craziest House warming party ever.’
Though Forbes estimates 50 Cent’s net worth at $155 Million, the rapper filed for bankruptcy after being sued for a leaked sex tape. It was announced he had to pay $5million in damages for the lawsuit and claims he is now $28million in debt.
After getting worldwide fame for Get Rich or Die Tryin’ in 2003, the rapper has had success in business ventures such as clothing lines and vitamin water. He described his filing for bankruptcy as ‘a strategic business move’.
Chapter 11 Bankruptcy allows people or businesses more time to rearrange their finances to make amends to any past damages or losses in the past. It is understood that 50 Cent often ‘exagerates’ his lifestyle and is no longer worth the same he was a few years ago.