Bankruptcy

50 Cent Bankrupt Donald Trump IRS

50 CENT AND DONALD TRUMP: TWO OF A KIND

It’s surprising how many things that 50 Cent and his choice for president, Donald Trump, have in common. Both are very wealthy, and are not above using bankruptcy to weasel out of sticky financial situations. Apparently they both hate to pay taxes and have been “negotiating” back and forth with the IRS for many years. We were also amused to learn that 50 Cent also loves to flaunt his wealth with conspicuous consumption. Years ago he appeared on MTV’s Cribs and displayed his cars- including THREE ridiculously expensive Ferraris in his driveway. It turned out the cars were NOT his (the owner griped to MTV) and Fitty had to apologize for the scam.

Photo Credit: BACKGRID-USA

By Janet / October 27, 2020
4 Comments
Bankrupt Gigi Hadid Mega-mansion Mohamed Hadid Taxes

MOHAMED HADID MAKES IT EASY TO HATE RICH PEOPLE

He seems like a nice enough guy in person, but Bella and Gigi Hadid’s father Mohamed Hadid’s behavior gives wealthy people a BAD name. Real estate developer Hadid built a massive 60,000 sq ft mega-mansion in Bel Air and ignored Los Angeles construction laws to stop building because the precariously balanced house threatened neighbors below. He planned to sell the place for a hundred million dollars, but has been ordered to demolish it. Not only has the supposed multimillionaire tried to declare bankruptcy and failed, but he owes over a million in back taxes and the house is still there – in worse condition than ever. He claims he doesn’t have the 5 million needed to tear it down! The judge declared his conduct as “despicable” and hinted that the endangered neighbors suing him will win their cases (if they’re not crushed in a landslide.)

Photo Credit: BACKGRID-USA

By Janet / April 30, 2020
2 Comments