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50 Cent on bankruptcy: 'When you're successful ... you become a target'

Now 50 Cent, whose real name is Curtis Jackson III, is revealing the details behind his decision to file bankruptcy.
/ Source: TODAY

Rapper-actor 50 Cent filed Chapter 11 bankruptcy just days after a jury determined that he would have to pay $5 million to a woman who sued him over a leaked sex tape.

Now 50, whose real name is Curtis Jackson III, is revealing the details behind the decision.

"I'm taking the precautions that any other good businessperson would take in this situation," he told E! News after the filing. "You know when you're successful and stuff, you become a target. I don't wanna be a bull's-eye. I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that."

As for what's at stake for the star, the documents filed in Connecticut Bankruptcy Court put his assets (and debts) between $10 million and $50 million.

epa04845508 (FILE) A file picture dated 01 April 2014 of US rapper Curtis Jackson aka 50 Cent at the Okecie airport in Warsaw, Poland. According to media reports, 50 Cent on 13 July 2015 filed for bankruptcy. EPA/STACH LESZCZYNSKI POLAND OUT *** Local Caption *** 51308524STACH LESZCZYNSKI / EPA

And as far as he's concerned, he's in good company when it comes to protecting what he has.

"Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy," he added. "It means you're reorganizing your finances, but it does stop things from moving forward that you don't want moving forward."

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