Author Topic: 50 cents for your thoughts  (Read 1524 times)

Cessna152

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50 cents for your thoughts
« on: August 04, 2015, 11:37:49 AM »
I'll just leave this here...

http://blogs.wsj.com/bankruptcy/2015/08/04/50-cent-bankruptcy-by-the-numbers/

Quote
MONTHLY EXPENSES
$108,000

Mr. Jackson said he pays $3,000 a month for meals and entertainment, $3,000 on wardrobe, $2,000 on travel and $1,000 on personal grooming. His biggest monthly expense is his $17,400 mortgage, and he also spends $9,000 on “security and protection.”


boyerbt

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Re: 50 cents for your thoughts
« Reply #1 on: August 04, 2015, 12:19:10 PM »
Forbe's has 50 Cent's net worth tagged at $155 million so spending $108m per month may seem ridiculous to the average person but it isn't breaking his bank.

Cessna152

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Re: 50 cents for your thoughts
« Reply #2 on: August 04, 2015, 12:35:57 PM »
Forbe's has 50 Cent's net worth tagged at $155 million so spending $108m per month may seem ridiculous to the average person but it isn't breaking his bank.

108k for clarity.

"Mr. Jackson listed his monthly income as $184,969.58" ... that's 2.2m/yr.
Expenses are at 108k, so he says.

Debt is at 32,509,549.91 (sans the 2 recent lawsuits 18.4m, 7m) = 7,109,549.91
1m left on his loan for his mortgage = 5.1m
2 other homes under $600k (say he owes 100% on those) = 3.9m in debt

I'm just factoring out the debt I'd allow myself to carry, still leaves him 3.9m in spending that I would be curious about.

zephyr911

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Re: 50 cents for your thoughts
« Reply #3 on: August 04, 2015, 12:45:27 PM »
This thread is bound to go into tangents about how he was supposedly wealthy as shit months ago but suddenly broke because he lost a couple of lawsuits.

winterbike

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Re: 50 cents for your thoughts
« Reply #4 on: August 04, 2015, 01:47:24 PM »
50 cents is far from broke. He filed for chapter 11, not 7. It's all here. https://www.youtube.com/watch?v=Ga1zKHInsR0