After filing for bankruptcy last week, 50 Cent appeared in a Manhattan Supreme Court on Tuesday morning to testify that he is not as wealthy as his flashy lifestyle makes him appear to be.
While Forbes estimated the rapper’s fortune to be about $155 million in May, Jackson’s lawyer said in court Tuesday that his client’s worth is $4.4 million, which presents a problem after he was hit last week with a $5 million verdict for publishing a sex tape starring rival Rick Ross’ ex-girlfriend.
Cent explained in court that while his social-media accounts may be filled with flashy photos, “I take the jewelry and the cars back to the stores,” according to the New York Daily News.
When the judge asked the rapper about his 38 million record sales, Jasckon said, “I make 10 cents a record.”
Jackson also said he made $100,000 for the two movies he’s currently in, “Spy” and “Southpaw.” For his current role on Starz’s hit series “Power,” which he also executive-produces, Jackson said he’s pocketed only $150,000 from each of its first two seasons.
Despite the filing, Jackson did admit that he recently threw cash around at a Florida strip club and bought a Rolls Royce on July 4th, but said “I took two others back” in order to buy it, according to the NYDN.
During his testimony, Jackson also said he was worried that his “brand” had been tarnished since the bankruptcy filing last week, saying, “Now that I filed for bankruptcy, I’m not as cool as I was last week.”
Jackson did manage to say a minor apology to Lastonia Leviston, who was awarded $5 million after he allegedly published a sex tape on which she is featured without her consent: “I’m sorry if you feel like I hurt you.”
Since the bankruptcy filing last week, 50 Cent has been vocal about trying to get out of paying Leviston.
“I need protection,” 50 Cent explained while appearing on TBS’ “Conan.” “You get a bull’s-eye painted on your back when you’re successful, and it’s public. You become the ideal person for lawsuits.”