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50 Cent Admits Reason for Bankruptcy Filing: ‘I Don’t Wanna Be a Bullseye’ (Video)

The move came three days after a judge ordered the rapper to pay $5 million in damages for posting a sex tape online

Hip-hop veteran 50 Cent isn’t taking his recent financial troubles too hard.

At the “Southpaw” press junket on Monday the rapper, whose net worth Forbes valued at $155 million, told E! News that filing for chapter 11 bankruptcy merely meant he is “reorganizing [his] finances,” allowing him to “stop things from moving forward that you don’t want moving forward.”

What 50, né Curtis Jackson, suggested he doesn’t want “moving forward” is the $5 million in damages that he now owes after a judge determined that he leaked a woman’s sex tape.

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

After noting previous bankruptcy filings by Disney and Donald Trump, he added, “I’m taking precautions that any good businessperson would take in this situation.”

Not to worry, the rapper said, his “decent” legal team has 50 Cent in good hands.

Watch 50 Cent’s full interview below.

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