Just last week, 50 cent filed for bankruptcy because he owes creditors more than $28 million. After appearing in court on Wednesday, the rapper is now claiming that he "borrowed" a lot of the things that tricked people into believing that he lived a lavish lifestyle.
While at Manhattan Supreme Court to discuss his finances and the $5 million lawsuit he's facing, the 40-year-old celeb admitted that all of his songs about "getting money" were lies, according to Us Weekly.
He testified on the witness stand that his luxury life of expensive cars and lots of bling was all a mirage, The New York Daily News reports. Even the $1.6 million bet he claimed he made on boxer Floyd Mayweather was a lie. "It's entertainment," he said of the lavish life he portrays to the public on social media and in most of his videos.
When it comes to all the fancy things he actually does have, 50 Cent admits to trading and borrowing. For instance, on July 4, he was only able to get a Rolls-Royce "on a whim" because he traded in two other cars, one of which was a Lamborghini. His other cars, like his Bentley, Porsche and Ferrari, were all rented. He added that all of his gold and diamond jewels were "loaners."
"I borrowed them," he said. He only owns "a few gold chains" and "three of four watches." As for the 65-carat pinkie ring he has posted to Instagram the rapper said, "65 carats? I don't think that's even possible."
He has sold 38 million records worldwide, but only gets "10 cents a record," and for the two movies he's currently in, "Spy" and "Southpaw," he made $100,000 off each.
His net worth is set at $150 million, according to Forbes, but 50 Cent filed a statement with the court claiming he's only worth $4.4 million. His lawyer, James Renard, said that it is now down to about $3.7 million, which doesn't even include the $5 million he owes in a sex tape lawsuit.
Read all about 50 Cent filing for bankruptcy HERE and check out some of his most "luxurious" Instagram photos below!
