Recently, 50 Cent has made headlines for filing Chapter 11 bankruptcy. 50, who’s real name is Curtis Jackson, appeared in court Tuesday, July 21 and stated that he was not as rich as he appeared. In fact, according to his legal team, he is only worth $4.4 million. During court he stated that he does not own his cars or jewelry.
This is not the first time a rapper has gone from seemingly wealthy to “broke”. A few other rappers, such as MC Hammer, Common and Bow Wow have all faced public financial troubles as well. But none of these rappers were heralded as a rags-to-riches entrepreneur like 50. According to his testimony in court, it seems like 50 is not the savvy businessman he was once characterized as. When asked about the lifestyle he portrayed on his social media account, which features numerous luxury items, 50 remarked that it was entertainment.
With the pervasiveness of social media and the culture of over sharing it is easy to share every aspect of your life. However, with 50 Cent’s current legal situation, it is important to remember that not everything someone has posted toInstagram, Facebook, Twitter or Snapchat is true. While presenting a lavish lifestyle can win a person a large following on social media, it’s not necessary to pretend your life is more charmed than it is. There is a certain satisfaction in not flaunting every moment of your life. Instead, expressing yourself in a factual manner helps to prevent compromising situations from presenting themselves.
50’s “fall from grace” is a lesson in how keeping up with the Jones goes wrong. The constant rental cars and loaned jewelry was his attempt to maintain his image. However, when ordered by the court to pay $5 million to Lastonia Leviston following a civil suit, he could no longer pretend. Beware of social peacocking or you may end up like 50. As he said in court, “Now that I filed for bankruptcy, I’m not as cool as I was last week.”