50 Cent recently filed for Chapter 11 Bankruptcy protection after losing $5 million in a lawsuit with rapper Rick Ross. The hip-hop star filed in an attempt to protect his estate after he lost the case for uploading a sex tape of Ross and his lover, Lastonia Leviston.
Fiddy recently appeared on Conan to promote his new movie, Southpaw, and opened up to the talk show host about why he felt he had to file for bankruptcy.
“Yeah, I need protection, you get a bull’s-eye painted on your back when you‘re so successful, and it’s public,” he said. “You become the ideal person for lawsuits.”
It’s true. Unfortunately, the 40-year-old rapper has been dealt with a large number of court cases over the years, and they have all resulted in the star losing a great deal of money.
Despite the surprise of Jackson’s decision to file, The New York Times has described him as having “exceptional business instincts,” and Forbes has stated that he is worth over $155 million as of May 2015.
50 Cent, whose real name is Curtis Jackson, has been light-hearted about his recent financial decisions, even joking about it in a recent Instagram post of him posing with a smart car.
“Times are hard out here, for real,” Jackson told Conan. “That picture was actually taken by Jake Gyllenhaal. Total empty parking lot, so he took the picture.”
Jake Gyllenhaal co-stars with the rapper in Southpaw, which is set to come out on Jul. 24.
Watch the full interview below: