50 Cent played down his fortunes following bankruptcy filing and remained vague about his business deals in court
The Associated Press reports that the rapper – real name Curtis Jackson – testified in a Manhattan state Supreme Court to determine whether he will have to pay $5 million to Lastonia Leviston, who is suing him for allegedly releasing her sex tape online in 2009.
Despite filing for bankruptcy, Jackson regularly shares photos of a luxury lifestyle through his social media accounts. One of which is a 65-karat ring which Leviston’s lawyer questioned him about.
“It’s a borrowed piece of jewelry from the jeweler,” Jackson answered. He also explained that this was the case for many of his possessions – as he rents, borrows and leases other luxury items, including cars.
Jackson issued an apology to Leviston, telling her in court “I’m sorry if you feel like I hurt you.” Jackson and his lawyer, James Renard, maintain that he’s worth only $4.4 million, the New York Times reports. Forbes has previously estimated his wealth at $155 million.
The AP also reported that when Jackson was asked about partnerships, licensing agreements and business deals with large corporations like Intel, Reebok and The Walt Disney Company, he wasn’t forthcoming.
“You have to ask my accountant,” Jackson said when he was questioned about his earnings in 2007 when Coca-Cola bought Vitaminwater. The opposing side was under the impression that he earned $100 million in the deal.