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50 CENT ON BANKRUPTCY FILING: 'I’m taking precautions that any good businessperson would take'


50 cent E! interview bankruptcy

50 Cent aka Curtis Jackson is making sure that he won't be taken advantage of because of his success.

A day after news broke that the rapper had filed Chapter 11 bankruptcy protection, 50 Cent spoke with E! News about his finances.

"Walt Disney had filed for bankruptcy before. Donald Trump has filed bankruptcy," 50 Cent told E! News while promoting his new movie, "Southpaw.""It means you're re-organizing your finances. But, it does stop things from moving forward that you don't want moving forward, so..."

The filing could be a protective move after 50 Cent was ordered on Friday to pay Lastonia Leviston $5 million as a result of a sex tape that he posted in 2009 allegedly as part of an attempt to stir the pot with rival rapper Rick Ross.

"When you're successful and stuff, you become a target. I don't wanna be a bullseye," Jackson told E!. "I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that."

He also added, "I'm taking precautions that any good businessperson would take in this situation."

50cent starz power bankrupt 2According to a statement from his attorney, William A. Brewer III, to Billboard, the filing "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."

Hunter Shkolnik, Leviston's lawyer, told Business Insider, "We think this is a failed attempt to avoid paying this woman who has been hurt so badly by his actions."

In addition to starring in "Southpaw" and appearing in "Magic Mike XXL" this year, 50 Cent executive produces and stars on Starz's hit drama "Power." Later this year, he will release his sixth studio album, "Street King Immortal."

Watch 50 Cent's full interview at E! >>

SEE ALSO: 50 Cent’s attorney says 50 Cent will keep being 50 Cent despite bankruptcy filing

MORE: Bankrupt 50 Cent is likely still making money on Starz's hit series 'Power'

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