Curtis “50 Cent” Jackson is worth far more than his name suggests. The rapper of the hit In Da Club is currently sitting on a fortune worth 30 million dollars, after years of performances, record deals and overall fame. While that number may seem mind-boggling to some fans, ‘thirty mil’ is actually a disappointing number to 50 Cent. The reason? The rapper was once worth about five times what he is now, at a whopping total of $150 million. That’s a whole lot of cash!
But where did all of that money go? Did the rapper spend it all on expensive cars, boat parties and fancy booze, or did he actually manage to lose it all? And how did he manage to lose so many millions in such record speed? We’ve done some digging into 50 Cent’s finances to clue fans into the rapper’s rapid descent from wealth.
Bringing In The Cents
The first step in losing $147 million is making that amount of money to begin with. Unlike a lot of other people who work in the entertainment industry, 50 Cent did a particularly good job of diversifying his income so that music was not his only source of wealth. According to Money Nation, the rapper made almost a third of his fortune through investments that weren’t even related to music. The outlet reports that 50 Cent’s “business deals” generated an estimated 103 million dollars over the years, before taxes. But what kinds of deals did the rapper strike?
The answer in one word is: drinks. Although, the rapper didn’t necessarily invest in the kind of drinks that some fans may expect. One of 50 Cent’s most impressive endeavors involved a collaboration with the French company Glaceau. Business Insider reports that the rapper actually held a stake in the company’s Vitamin Water line. The outlet maintains that when Glaceau sold its company to Coca-Cola in 2007, 50 Cent earned a possible 60 million dollars in the deal. What a huge win!
While Vitamin Water is responsible for the bulk of the rapper’s skyrocket to success, 50 Cent also made a bit of money on a different kind of drink. The performer owned significant shareholding in Effen Vodka, which he himself estimates to be worth about $60 million. However, while he did take to Instagram to report that he sold his shares for that very price, the actual sale has yet to be confirmed to the press. According to The Spirits Business, a spokesperson for Effen has stated that 50 Cent has chosen to continue his partnership with the company.
Going, Going, Gone!
In 2015, the rapper’s net worth plummeted following a costly set of legal proceedings. The drama got started when 50 Cent started trading insults with rival Rick Ross. The arch enemy duo shot each other down in interviews and music alike, until 50 Cent lost control of his sense of decency in a totally twisted attempt to take the ultimate revenge.
The singer of 21 Questions got his hands on a sex tape featuring Rick Ross’ baby mama and ex-partner Lestonia Leviston. According to a report by The Daily Mail, Leviston had made the video in 2008 with her boyfriend at the time, believing that the recording would never see the public eye. Never could she have been more wrong.
In his obsessive need to bring Ross to the ground, 50 Cent trashed Leviston and her reputation, calling her a “p*rn star.” He went so far as to narrate the sex tape, making fun of Ross and dropping sexist comments about Leviston throughout. The coup de grace came when 50 Cent posted the video online for the world to watch.
At the end of the day, Leviston was awarded a total of 7 million dollars in damages, prompting the rapper to file for bankruptcy. He filed for the claim on the very day that the punitive damages part of the trial was supposed to begin.
Looking Ahead To The Future
50 Cent is apparently feeling optimistic about his financial future, despite the size of his collective losses. In an interview with The Guardian, the performer expressed that he doesn’t take bankruptcy too seriously. In fact, he claims that it is mostly a strategy to avoid paying money and keeping his coffers full and ready for spending.
The outlet reports that 50 Cent sees himself investing in as many new ventures as possible. He expressed in his exclusive that his major passion in life is increasing his fortune. The ideal world that he imagines for the future is a tax-free utopia.
Whether 50 Cent’s dreams of a cash-filled future are ambition or delusion still remains unclear.