A rich Italian playboy and heir to an industrial empire had his yacht and properties seized by creditors, much to the delight of the internet.
Gianluca Vacchi who garnered over 11 million followers on Instagram for flaunting his wealth and extravagant lifestyle online is now being mocked, after banks demanded repayments of debts over 9.5 million euros (US$10.6 million), according to The Telegraph.
The tattooed, body-building, 50-year-old regularly posts photos of himself hanging out with models, in luxurious locations, on private jets, and at lavish parties. He celebrates a work-free lifestyle dedicated only to fulfilling the pleasures the world can offer him.
In a book published last year recounting his life, he described that after 20 years of work in the family business, he decided to quit and instead party it up with his current lover, Ariadna Gutiérrez, a former Miss Colombia, The Local reported.
Vacchi is now being mocked online since his properties were seized, including a stake he had in a golf course after creditors feared he may have hidden other debts.
The playboy’s stake reportedly generated 5 million euros (US$5.91 million) of dividends a year. But it didn’t seem to be enough for him to keep up his outrageous lifestyle.
According to The Local, Vacchi is quoted describing the incidents as, “It is just a little debt.” His family business, IMA is a conglomerate of industrial packaging and pharmaceuticals.
Now the internet is mocking the tycoon on Twitter, posting photos of him posing with plastic paddling pools instead of his expensive yacht. A Facebook page titled “Find Gianluca Vacchi a job” has also gained a huge following base.
— DoMENico C. (@DOcastaldo) August 10, 2017
Another user mocked Vacchi by posting an edited image of him waiting in line for a job in the movie “The Fully Monty” with the caption Full #Vacchi instead.
— Stefano Prada (@astepradar) August 9, 2017
Vachhi published a book titled “Enjoy,” which has also become his online catchphrase. That phrase matches his Instagram page filled with luxury items and extravagant locations.
Someone also mocked Vachhi’s famous line in an edited photo with him begging for money.
— Il Fede (@ilsanto1984) August 9, 2017
An appeal made to generate funds to help pay off Vacchi’s debt has reportedly failed to get any attention. As of writing it had only attracted pledges of 5 euros (US$5.91), according to The Local.
50 Cent’s Cash Photos Posted on Instagram Prompts Judge to Call Him Back Into Court
By Epoch Newsroom
50 Cent might be in trouble with the courts again.
A bankruptcy judge called the rapper—born Curtis Jackson—back into court after he was spotted on Instagram flaunting wads of cash. Recently, one of his photos (above) shows him sitting down along with what appears to be stacks of $100 bills spelling the word “BROKE.” He also recently bought a house in Africa, according to his Twitter account.
Judge Ann Nevins, who is handling his bankruptcy case, wants him to explain some of the pictures and see if he’s been truthful about his current financial situation.
“I’m concerned about allegations of nondisclosure and a lack of transparency in the case,” Nevins told his lawyers during a hearing on Feb. 18, in Hartford, Connecticut, according to CNN.
She said, “There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.”
The legal team for 50 issued a statement, saying he would show up “to make sure that all questions have been addressed.”
“[He] has been forthcoming and transparent with all creditors,” his lawyers added.
He declared bankruptcy in July 2015.
“Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward,” 50 told E! News last year.
The day after declaring bankruptcy, he posted a photo on Instagram with the caption, “Times are hard out here LMAO,” along with a tiny Smart Car.
50 told TMZ earlier this month that his biggest creditors—Sleek Audio, SunTrust Bank and Lastonia Leviston—came up with a plan for him to pay the firms back. He said their plan violates the 13th Amendment of the U.S. Constitution that bans slavery and involuntary servitude.
His creditors’ plan would create “a near-indefinite period of involuntary indentured servitude” and he would only work for their benefit.
He added, “The plan conditions [50’s] access to food and shelter on the whims of the trustee, who answers only to the [creditors].”