Method Man Says 50 Cent Isn't Broke, Calls Bankruptcy a 'Tactic'

by Jackie Willis 3:57 AM PDT, July 17, 2015
Photo: Getty Images

Even 50 Cent's friends aren't buying his bankruptcy.

Method Man showed up on Thursday's Watch What Happens Live and didn't hold back saying what he really felt about 50 Cent, who is claiming that he's on his last dime.

WATCH: 50 Cent Is 'Malefiftycent'

"No, he's not broke. No," Method Man told host Andy Cohen when asked about the 40-year-old rapper's finances.

His explanation for 50 Cent filing bankruptcy: "Tactics."

"Yeah, he's being sued by a lot of people and he’s protecting his bank," Method Man explained. "Ain't nothin' wrong with that."

WATCH: 50 Cent Makes Horrible First Pitch at Mets Game

This past week, the "In Da Club" rapper filed for chapter 11 bankruptcy in Hartford, Connecticut, reporting assets and debts between $10 million and $50 million, according to court documents.

The filing came just days after 50 Cent, whose legal name is Curtis James Jackson III, was ordered to pay $5 million to a woman who sued him after he allegedly acquired a sex tape of her and her boyfriend, and then shared it online without her consent.

NEWS: Floyd Mayweather to 50 Cent -- I Don't Need Your Money

"I'm not panicking. People love tragedy more than they love good news, no matter how you look at it. The news comes on, and it's 90 percent tragedy," 50 Cent told ET's Kevin Frazier. "I have faith in the court systems."

His bankruptcy does comes as a shock.

In May, Forbes estimated 50 Cent's net worth at $155 million, thanks in large part to a minority stake in VitaminWater, putting him in the top 5 wealthiest hip-hop artists. As a shareholder of the brand, 50 Cent made an estimated $100 million after taxes when it was sold to Coco-Cola in 2007.