50 Cent Speaks Out After Bankruptcy Filing: “I’m Not Panicking”

50 Cent talking about his bankruptcy filing
After filing for Chapter 11 bankruptcy on July 13, 50 Cent says he's "not panicking" Noam Galai/WireImage

50 Cent may not be able to take you to the Candy Shop right now, but he's confident he'll be back in his sweet spot soon. After filing for Chapter 11 bankruptcy on Monday, July 13, the rapper spoke out about his money troubles in a new interview.

"I'm not panicking," the "In da Club" performer (real name: Curtis Jackson) told Entertainment Tonight, adding that fans online seemed more worked up about it than he is.

"People love tragedy more than they love good news, no matter how you look at it," he explained of the public reaction to his filing. "The news comes on, and it's 90 percent tragedy."

Don't cry too hard for him, though. Jackson hinted that his current situation is only temporary. "I make decisions to do things based on the position that I'm placed in at points," he told ET, noting that he's "consistently being made out to be a target because of [his] financial situation."

In fact, as reported by the Associated Press earlier this month, the rapper was ordered by a jury to pay $5 million to a woman who said he posted her sex tape online without her permission. (She filmed the video with her boyfriend.) 

"I have faith in the court systems, so I know at points you've gotta just relax and go through the process," the Get Rich or Die Tryin' star — who has been arrested before but avoided hard time in prison — told ET.

Jackson's lawyer, William A. Brewer III of Brewer, Attorneys & Counselors, told Us Weekly on Monday that the rapper filed for bankruptcy to "reorganize his financial affairs," but that his professional endeavors would be "unaffected" by the case.

"This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs," Brewer told Us in a statement. 

After the filing, 50 Cent cheekily alluded to his money troubles on Instagram, sharing a photo of himself with a tiny blue smart car in a parking garage. "Times are hard out here LMAO," he captioned the pic, hashtagging it "#EFFENVODKA," "FRIGO," and "SMSAUDIO."

Times are hard out here LMAO #EFFENVODKA #FRIGO #SMSAUDIO

A photo posted by 50 Cent (@50cent) on Jul 13, 2015 at 9:43pm PDT

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