Is Money King Immortal?
50 Cent had deal with Sleek Audio Co. for distribution their headphones. The G-Unit helmsman who invested $1 million in Sleek, was to start a line of headpones with the company. But 50 Cent founded his headphone SMS Audio co. and his new product want against 'beats by Dre' and also 'Sleek'. Sleek claimed 50 stole its design,some of their valuable data and trade secrets. and then tried marketing it on his own. Sleek50 Cent was ordered to pay $17 million to Sleek. but after 50 chose not to pay a $17 million, his bank account was frozen.
50 Cent also lost $5 million lawsuite against Rick Ross baby mama.
According to reports, 50 claims his assets are worth between $10-50 million, but his liabilities are about the same.
'Under the direction of Mr. Jackson, SMS Promotions looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing' said the attorney.
50 Cent is in business since 2003 and he knows how to hustlin' with money, with companies, with people. He said:'Walt Disney has filed bankruptcy, Donald J. Trump has filed bankruptcy. It means you're reorganizing your finances.'