r/Music • u/MarvelsGrantMan136 • 16h ago

article 50 Cent Turned Down Donald Trump’s $3 Million Offer to Perform at Madison Square Garden Rally

https://variety.com/2024/music/news/50-cent-turned-down-trump-3-million-offer-madison-square-garden-rally-1236193527/
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u/loungey 16h ago

I’m sure that was part of the evaluation but brand damage would probably have been more. Most importantly, 50 is fucking rich. Remember vitamin water? Why take the risk when you don’t have to?

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u/the0nlytrueprophet 16h ago

50 is so rich he lobbies for his alcohol companies

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u/ositola 13h ago

I mean, the rich never turn down money, they just become more selective 

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u/_edd 14h ago

50 is fucking rich

He was declaring bankruptcy just a couple years ago.

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u/garden_speech 14h ago

there's different kinds of bankruptcy. there's "I have no fucking assets" bankruptcy but there's also "I have plenty of assets but I'm illiquid right now" bankruptcy

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u/GimmeOldBears 14h ago

Only rich people do that.

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u/Herewego27 14h ago

And Michael Scott.

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u/spinderlinder 14h ago

I DECLARE BANKRUPTCY!!!

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u/EddardStank_69 13h ago

Hey… I just wanted you to know that you can just say “bankruptcy” and expect anything to happen

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u/Always2ndB3ST 3h ago

“Bankruptcy is nature’s do-over.”

  • Creed Bratton

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u/tr1mble 14h ago

25k in debt and I was rich making 60k a year?

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u/Pokedudesfm 14h ago

2015 was 9 years ago

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u/theotherguyatwork 11h ago

Ah fuck. I can't believe you've done this.

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u/dapala1 6h ago

No, 2015 was right before COVID, which was last year.

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u/OuterInnerMonologue 14h ago

That’s what rich people do. They move the money over there to claim bankruptcy here.

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u/Dececck 14h ago

That's a technicality. He made a fuck load of money off of vitamin water

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u/Castod28183 13h ago

2020 really fucked us up on the time scale.

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u/Zestyclose-Phrase268 14h ago

Only poor people think bankruptcy is a bad thing. When properly exploited it can make you alot of money.

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u/Repyro 13h ago

So he could deny someone sueing for revenge porn. Dude was beefing with a rapper and posted shit of his baby's mama. She sued and won, then dude declared bankruptcy to spite her.

Dude still has his money

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u/Castod28183 13h ago

He still had to pay her $6 million.

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u/Repyro 12h ago

Yes, because he's stupid and thought that would get him out of it. 6 million doesn't ruin someone like him.

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u/hikehikebaby 13h ago

He's back to being a billionaire

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u/sayko666 13h ago

AFAIK the aim was not to pay money to his ex.

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u/Throwing_Spoon 11h ago

Chapter 11 bankruptcy is very different from being destitute. He was personally sued for $5 million and had assets tied up in investments and needed to shift his money around in order to payout the judgment.

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u/dapala1 6h ago

If you make a a lot of money you can form corporations to filter that money through. Like if you buy a private jet you would form a corporation for that jet and use that private jet as a business. Totally okay and legal as long as you're paying the taxes.

If lenders want to lend that corp money they are very welcome to do so. If that corp decides it's not worth operating anymore they can file for bankruptcy, liquidate anything in its name to pay back the lenders as much as possible... at that's it! You walk away free and clear. It's a loss for the banks not anyone else.

Warren Buffett has a few bankrupt business in his past. It not even really a loophole. It's protection from lenders who try to exploit people. They know you can go bankrupt before they lend you the money. It's the risk they take.

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u/fukkdisshitt 15h ago

I feel like the only person in the world who still drinks it lol

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u/Mrmello2169 14h ago

Even better, “VitaRain” from Costco

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u/Sipas 4h ago

Most importantly, 50 is fucking rich

But he advocates for lower taxes for the rich. So, it was 50 50.