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50 cents lifestyle is an illusion

ClaytonAlbright

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I almost didn't want to post this, given what happened in a previous post.

http://www.usatoday.com/story/life/...cent-says-flashy-lifestyle-illusion/30503943/

Questioned by an attorney for the woman, Lastonia Leviston, the musician-actor denied owning many luxury items — including expensive cars and flashy jewelry — saying he rents, borrows and leases instead.

"It's a borrowed piece of jewelry 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.

There's other articles out there, but in short he said he returns a lot of the items he shows on his twitter account and "it's all for show".
 
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Rawr

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"It's a borrowed piece of jewelry 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."

smart..
 

Lavi Fletcher

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To be honest I think he's lying in court LOL.

Top-rated comment on a Reddit Thread:

"F*ck 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 F*cking throwin' some marble and granite and gold in that bitch. 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 F*cking taking that shit 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 INSIDERS, 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 shit. He really is F*cking 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.

Source: my maternal relation is a very well-known and successful financial planner/ money lender/ synonyms.

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."
 
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Digamma

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There's other articles out there, but in short he said he returns a lot of the items he shows on his twitter account and "it's all for show".
And why wouldn't he? Owning such things, I think, would be pretty much useless.

Two things I don't understand, though:
  1. Why all these threads about this guy? Who cares? He don't own us money. Genuinely curious.
  2. How can anybody think this guy is "broke"? He's 50-Cent. Even if he magically didn't have anything left, he just has to make an album and will make more money than most on this forum will ever make, even if it tanks. So seriously, c'mon.
 

Dwight Schrute

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Why all these threads about this guy? Who cares? He don't own us money. Genuinely curious.
Same with Tai Lopez.
People look him up, find the forum in all it's glory and maybe buy an INSIDERS membership, thus supporting MJ and the forum.
Pretty cool when you look at it that way.
 
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Fatal Jay

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50 cent is actually brilliant. You have to understand for wealthy men filing for bankruptcy is a strategy and does not mean you're broke. 50 cent has a big lawsuit filed against him where he leaked rapper Rick Ross child mother sex tape. It does not shocked me when she won the case he filed. Bankruptcy gets you out of sticky situations like paying the full of amount of your debts.

That is why you see videos of him saying he doesn't own this or that because the more he deny what he owns the less IRS will take from him.

Currently 50 is executive producer and stars on a television hit series called "Power" plus he has numerous successful business under his belt. So he is not hurting just playing chess.
 
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marklov

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50 cent is actually brilliant. You have to understand for wealthy men filing for bankruptcy is a strategy and does not mean you're broke. 50 cent has a big lawsuit filed against him where he leaked rapper Rick Ross child mother sex tape. It does not shocked me when she won the case he filed. Bankruptcy gets you out of sticky situations like paying the full of amount of your debts.

That is why you see videos of him saying he doesn't own this or that because the more he deny what he owns the less IRS will take from him.

Currently 50 is executive producer and stars on a television hit series called "Power" plus he has numerous successful business under his belt. So he is not hurting just playing chess.

I dont even keep up with 50 cent but did a search and found out.

Bankruptcy strategy didn't even work because....
He just lost the case and has to pay 7 million for his brilliant move of releasing a sextape
of someones girlfriend and an appeal would even put him in a deeper hole.

Then Sleek Audio has sued him for 15 million because of stolen designs, he held them off
for 2 years but, its going to happen.

Whats the big deal though?

Guy made some stupid moves no he has to pay for it, seems right to me.
 

mws87

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Maybe. Fiddy surely has enough fuel units in his Warren Buffet account, I bet he sleeps in a Lamborghini and has fun riding his bookshelves in the hollywood hills. Knawledge! ;)
Dammit, I was waiting to work the "fuel units" joke in at some point - I blew it. Dude, 50 has bookshelves FOR his bookshelves.

Whats the big deal though?

Guy made some stupid moves no he has to pay for it, seems right to me.
I've got to agree with this. I can't feel bad for the consequences brought onto those who make bad/dumb choices.
 

MJ DeMarco

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o8ftb-jpg.10064


does not mean you're broke

If one more person in this thread wants to counter argue "he's broke", they will be banned for one week.

I'm not going to suffer through this shit again.
 
Last edited:

Fatal Jay

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Then ban me lol you think I give a flying F*ck.You been wanting to ban me ever since that dating thread.

If I want to say he is not broke then I can continue to say it. Rather it being here or not.

You using reverse psychology actually worked to get me banned. So on that note go vomit some semen.
 
Last edited:

MJ DeMarco

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Then ban me lol you think I give a flying F*ck.You been wanting to ban me ever since that dating thread.

If I want to say he is not broke then I can continue to say it. Rather it being here or not.

You using reverse psychology actually worked to get me banned. So on that note go vomit some semen.

Your wish is my command.
 
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Roli

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Am I missing something here? His business is bankrupt but he is still filthy rich right? LLC isn't that what you call it in the States?
 

Roli

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If one more person in this thread wants to counter argue "he's broke", they will be banned for one week.

I'm not going to suffer through this shit again.

Oops, sorry! Didn't see this before I posted my question!
 
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luniac

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what is floyd mayweathers take on this?
 
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theag

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Who cares whats really up with his lifestyle and networth...

I still listen to this while checking my daily stats.

 

Ubermensch

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Not to elude the main topic of the OP, but since we're illusions, Grasshopper is a tool the Fast Lane promotes as a way to "appear" large.

I received the below e-mail earlier today:

"My name is ****** ************ from Citrix Grasshopper and as you may have already heard, Citrix recently acquired Grasshopper in July of this year. In light of this, I was hoping to get 15 minutes of your time to discuss some of Citrix’s other award winning Mobility products such as GoToAssist Remote Support.

As a loyal Grasshopper customer you immediately get 25% off on all Citrix products.

Do you have time this week to discuss?"

Interested to check out what Grasshopper's new owner has to offer.

Perhaps more useful illusions.

@Mr. L

See? Fifty ain't the only one who plays the games.
 

Formless

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