Multi Platinum-Selling Artist 50 Cent Claims His Flashy Lifestyle Is Just An Act
|Multi Platinum-Selling Artist 50 Cent Claims|
His Flashy Lifestyle Is Just An Act
The multi platinum-selling artist, born Curtis Jackson III, appeared in Manhattan state Supreme Court in a proceeding to decide possible additional punitive damages in an invasion-of-privacy lawsuit.
A jury has already ordered him to pay $5 million in damages in a lawsuit brought by a woman who said he didn't have her permission when he released a sex tape she made with a boyfriend.
"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.
How could a guy with an estimated net worth of $155 million argue that he can’t afford to pay out $5 million?
Because his actual net worth is closer to $4.4 million, according to his lawyers.
As court proceedings related to the sex tape lawsuit continued in New York yesterday, Jackson appeared on the witness stand to answer questions about his finances and assert that his flashy lifestyle is just an act.
“It’s entertainment,” he said, explaining that he borrows or rents most of the jewelry, cars, and other accouterments that he displays in public and on Instagram.
“The hip-hop culture is inspirational,” he explained.
The rapper’s bank account balance is “approaching zero,” according to his lawyers, and he has so many debts that he even owes money to his grandfather.