Rap star 50 Cent says flashy lifestyle is fake
50 Cent may put on the lavish lifestyle of a rap tycoon, but he says the bling-bling is all returned to the store.
The rapper, who has filed for bankruptcy as he faces potentially huge penalties in a lawsuit over a sex tape, has testified in court that his ostentatious displays of wealth are all a show.
50 Cent, whose real name is Curtis James Jackson III, said that his flashy cars and jewellery were all borrowed and that his own possessions included a Casio rather than Rolex watch, according to reports from Tuesday’s court session in New York.
“It’s like music videos, they say action and you see all these fancy cars but everything goes back to the dealership,” he was quoted saying by the New York Post tabloid.
The New York Daily News said 50 Cent told the court that he did not place a $1.6 million bet on boxer Floyd Mayweather’s fight against Manny Pacquiao, despite publicly claiming to do so.
50 Cent said in a statement to the court that he is worth $4.4 million, even though Forbes magazine earlier this year estimated his wealth at $155 million.
SEEKING BANKRUPTCY PROTECTION
The rapper is seeking bankruptcy protection, which could shield him from payouts, after a jury ordered him to pay $5 million to a woman who appeared in a sex tape that went online in 2009.
50 Cent — posing in a wig as his alter ego Pimpin’ Curly — narrates the woman’s sexual encounter and mocks fellow rapper Rick Ross, her ex-partner.
50 Cent reportedly apologized in court to the woman, who could seek far more money in the form of punitive damages.
50 Cent, who lives in a Connecticut mansion once owned by boxer Mike Tyson, is best known for the album and movie “Get Rich or Die Tryin‘.”
He has also been an active businessman who earned an estimated $100 million in 2007 by selling a stake in energy drink VitaminWater and has invested in mining in South Africa.
But last year he was ordered to pay $16 million to Sleek Audio after being accused of leaking its trade secrets.