50 Cent officially claimed he's broke after filing for bankruptcy at the Hartford U.S. Bankruptcy Court in Connecticut on Monday.

In a report on Reuters, the rapper himself assured fans that they won't be affected by the incident.

"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," 50 Cent told Reuters.

The debts and assets that was affected by the bankruptcy suit was allegedly worth from $10 to $50 million.

In a statement, his lawyer William Brewer III explained that the move was a means to protect 50 Cent or Curtis James Jackson III in real life.

"This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs," Brewer explained as quoted by Wall Street Journal.

As reported by Associated Press on ABC News, the 50 Cent bankruptcy filing coincided with the day he was supposed to testify about his finances in a suit filed against him by Lastonia Leviston. Last Friday, the rapper was ordered by a New York jury to pay Leviston with $5 million for posting online without her permission a video she made with her boyfriend.

Despite saying he's allegedly broke, netizens do not believe 50 cent.

Just last month, the rapper was cited by Forbes as the number four person among the wealthiest hip-hop artists. His net worth was estimated at $155 million. A report by Shawn Setaro on Forbes also mentioned that the bankruptcy filing was "suspiciously timed."

A report on USA Today also questioned the filing as the rapper had been flaunting some of his wealth on social media in the past weeks prior to the bankruptcy filing and being ordered to pay Leviston some millions.

Twitter was also hounded by comments and jokes about the 50 cent bankruptcy. Some Twitter users found it the scenario "ironic," as reported by E! Online.