50 Cent testifies he borrows his bling, says lavish lifestyle depicted on Instagram is an illusion

theGRIO REPORT - Rapper 50 Cent says most of the jewelry and cars that go along with the image of his lavish lifestyle are borrowed or leased....

Luther Vandross was outed as gay after his death.

Despite being named by Forbes as one of the top five richest hip hop artists, 50 Cent says that he really is struggling financially even as he is appearing in court to testify about his financial situation.

The claims come as 50 Cent is filing for bankruptcy and also facing punitive charges for an invasion of privacy lawsuit involving a woman whose sex tape he leaked online without her knowledge. He has already been fined $5 million for the suit, and the jury is now looking into his finances to determine what further punitive charges to bring against him.

When questioned by the lawyer for Lastonia Leviston, the woman whose reputation she says he “destroyed” with the sex tape, the rapper denied owning several luxury items, including but not limited to jewelry and cars. Instead, he claimed that he borrowed most of those items.

“It’s a borrowed piece of jewelry from the jeweler,” he told lawyer Philip Freidin when asked about a 65-karat ring he had posted about on Instagram.

Although 50 Cent did admit that he had been paid for appearances in night clubs and in the movie “Spy” by amounts up to $100,000, he was less forthcoming about his earnings from his partnerships and business deals, saying, “You have to ask my accountant.”

Days after the jury ordered 50 Cent to pay $5 million to Leviston, Jackson filed for personal bankruptcy protection in Connecticut. That filing lists his assets and liabilities between $10 million and $50 million.

On Tuesday, his lawyer, James Renard, said he was worth $4.4 million.

 

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