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'Times are hard out here': 50 Cent looks dapper at Southpaw press conference as he jokes about bankruptcy by posing with Smart Car

Published: 04:19 EST, 15 July 2015 | Updated: 05:17 EST, 15 July 2015

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He's known for his flash cars and expensive tastes.

But it seems 50 Cent has seen the funny side of his situation after filing for Chapter 11 bankruptcy protection last week, joking that he was so strapped for cash that he'd traded in his lavish fleet of motors for a humble Smart Car.

The 40-year-old rapper shared a picture of himself posing up a storm next to the tiny vehicle in a car park on Tuesday alongside the caption, 'Times are hard out here LMAO'.

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New ride: 50 Cent poked fun of his own bankruptcy crisis by posing next to a compact Smart Car on Tuesday, joking, 'Times are hard'

50 Cent's self-deprecating comment came just asfter he attended a press conference for his new film Southpaw at the Four Seasons Hotel in Los Angeles.

He looked dapper as ever, showing no signs of his recent ordeal as he prepared to get a grilling about the new boxing drama, which stars Jake Gyllenhaal.

The Candy Shop hit-maker was sporting a grey suit with a subtle checked pattern and a jazzy tie.

Bouncing back: The 40-year-old rapper showed no sign of stress as he attended the Southpaw press conference at the Four Seasons Hotel in Los Angeles earlier in the day

Dapper: The Candy Shop chart-topper looked suave in a grey checked suit and patterned tie

Meanwhile, 50 Cent appeared to have no shortage of dollar bills when he visited a strip club on Monday night.

In a video acquired by TMZ, the star - whose real name is Curtis Jackson - is seen standing by the stage watching the girls with a large wad of cash in his hand.

The exotic dancers are seen posing as dollar bills are thrown at them, wafting down like confetti, at the Ace Of Diamonds in West Hollywood.

Flash: 50 Cent was seen, centre, wearing a black baseball cap and holding a large wad of cash in one hand as he partied at a strip club on Monday night just hours after filing for bankruptcy protection

The rap icon, who has a big smile on his face, wears a black baseball cap and black shirt with a large medallion around his neck.

He appears to be accompanied by some other baseball-cap wearing male friends.

Earlier in the evening, 50 Cent had joined Gyllenhaal and Rachel McAdams on the red carpet at a screening of their new movie Southpaw.

The appearances came just hours after it was reported that the rapper known for the album and movie Get Rich or Die Tryin, had filed for bankruptcy protection as he faced a hefty payout in a lawsuit related to a sex tape.

50 Cent hits the strip club 1 day after declaring bankruptcy

Hit the town: The performer went to the Ace Of Diamonds strip club in West Hollywood following a screening of Southpaw where he walked the red carpet with co-stars Jake Gyllenhaal and Rachel McAdams

In a document filed with a federal bankruptcy court, he 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.

At the Southpaw screening at LA Live, the Candy Shop performer told Reuters fans don't need to worry about him.

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 alongside Jake Gyllenhaal and Miguel Gomez

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

Rapper 50 Cent says bankruptcy is 'strategic business move'

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

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

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.

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

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.

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

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.

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.

50 Cent at the Billboard Music Awards earlier this year

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

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.