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50 Cent makes first public appearance since filing for bankruptcy as he hits the red carpet with Jake Gyllenhaal and Rachel McAdams at Southpaw screening

Published: 11:40 EST, 14 July 2015 | Updated: 18:33 EST, 14 July 2015

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Rapper 50 Cent filed for Chapter 11 bankruptcy protection on Monday.

But just hours after the filing he made an appearance at an ESPN screening of his new film Southpaw in Los Angeles, looking to not have a care in the world.

The 40-year-old hip hop icon joined co-stars Jake Gyllenhaal and Rachel McAdams at the event, where they hosted the screener at LA Live.

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Not keeping him down! Just hours after the filing 50 Cent made an appearance at an ESPN screening of his new film Southpaw in Los Angeles on Monday alongside Jake Gyllenhaal and Miguel Gomez

The Candy Shop rapper was suited and booted in a dapper blue sports coat, grey vest, and dark toned tie.

While his Southpaw counterpart Jake wore a classic black suit with his now signature beard.

McAdams was a vision in a white dress with floral patterns as her hair was still at chin length after undergoing the chop for the second season HBO's True Detective.

Staying busy: Gyllenhaal and Rachel McAdams posed with the rapper alongside Terry Claybon and Oona Laurence

Pals: 50 and Jake looked to have bonded during their time filming together

At the screening he told Reuters in Los Angeles that fans need not worry.

'They won't see any adjustments ... I'm clear on my target and I'm not going to allow myself to fall apart based on little things.'

The rapper known for the album and movie Get Rich or Die Tryin, filed for bankruptcy protection Monday as he faced a hefty payout in a lawsuit related to a sex tape.

'Don't worry!' At the screening he told Reuters in Los Angeles that fans need not worry

Panel chat: The cast talked about the film with the ESPN crowd

Rapper 50 Cent says bankruptcy is 'strategic business move'

In a document filed with a federal bankruptcy court, the rapper whose real name is Curtis James Jackson III listed both his assets and liabilities at between $10 million and $50 million.

50 Cent insisted in a published interview that he was 'taking the precautions that any other good businessperson would take in this situation'.

'Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy,' the entertainment site E! News quoted him as saying.

Legal woes: The rapper known for the album and movie Get Rich or Die Tryin, filed for bankruptcy protection Monday as he faced a hefty payout in a lawsuit related to a sex tape

'It means you're reorganizing your finances, but it does stop things from moving forward that you don't want moving forward.'

Rivalry: The rapper has a long-standing rivalry with fellow rapper Rick Ross (pictured), who has a child with the plaintiff, Leviston

50 Cent insisted that he did not want to be a 'bull's eye' for someone with 'astronomical claims' against him.

The bankruptcy filing, which would protect 50 Cent from paying creditors, came days after a jury ordered him to pay $5 million to a woman who appeared in a sex tape that went online in 2009.

In the video, 50 Cent poses as his alter ego Pimpin' Curly, sporting a wig and speaking in an artificially high voice, as he narrates the Florida woman's sexual encounter and mocks fellow rapper Rick Ross, who has a child with her.

50 Cent's lawyers said that he was not responsible and that Ross or Ross's associates released the video, in which the woman has sex with another man.

But a New York jury sided with the woman, holding 50 Cent responsible for violating her civil rights and inflicting emotional distress.

He filed for bankruptcy just as the court was determining whether he owes further punitive damages. The woman's lawyer had reportedly asked for total damages of $20 million.

It was the latest costly settlement for 50 Cent.

Last year, he was ordered to pay $16 million to Sleek Audio, a headphone maker with which he was once affiliated, after the company accused him of spreading trade secrets and other misdeeds.

As the sex tape case went forward, 50 Cent in May put into bankruptcy protection a boxing promotion company he owns, SMS Promotions LLC.

The bankruptcy filing said that 50 Cent owed 'primarily consumer debts' rather than business-related costs.

50 Cent was born in poverty in New York, the son of a 15-year-old mother who was dealing cocaine and was murdered when he was a child.

Order: Jackson was ordered to pay $5 million to Lastonia Leviston (right) in a lawsuit after she claimed he acquired and intentionally leaked a sex tape in which she was featured

Lifestyle: Jackson lived lavishly thanks to the deal, his studio albums selling more than 21 million units, clothing interests, and starring roles in multiple film and television projects

The 40-year-old achieved success after being championed by two of hip-hop's biggest names, Eminem and Dr Dre.

He has not retired from rapping, with his latest album 'Street King Immortal' still awaiting release, but in recent years has competed with Dr Dre and Jay-Z as a rapper turned businessman.

Forbes magazine estimated earlier this year that 50 Cent was worth $155 million, having made $100 million in 2007 by selling his stake in energy drink VitaminWater.

He has also invested in the mining of platinum and other heavy metals in South Africa.

The New York-born rapper listed his address as a mansion in Farmington, Connecticut.

The home was once owned by boxer Mike Tyson. According to various accounts, it has around 20 bedrooms, an eight-car garage and its own disco.