A multi-million dollar empire built on the backs of 50 Cent’s songs, business sense, and perseverance awaits you. 50 Cent’s meteoric rise to fame and fortune is a reflection of his incredible life and career as a hip-hop artist and businessman.
In this blog, we’ll investigate 50 Cent’s background thoroughly to find out how he became so wealthy. From his poor beginnings to his current stature as a hip-hop icon and shrewd entrepreneur, 50 Cent’s tale is one of victory over adversity.
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Table of Contents
Find out how much money 50 Cent has.
Rapper, producer, actor, and businessman 50 Cent of the United States has a $40 million fortune. Rising to notoriety in the early 2000s, his debut album “Get Rich or Die Tryin'” launched him to international acclaim, hitting platinum multiple times and generating singles like “In Da Club.” Other albums he released, such as “The Massacre,” also did well. 50 Cent has sold millions of CDs around the world because to his signature style, which combines violent lyrics with catchy choruses. His impact, however, goes far beyond the realm of music. He’s accomplished a lot professionally, especially with his return on investment from Vitamin Water’s sale to Coca-Cola. Also, 50 Cent has made a smooth transition into the film and television industries, where he has found success as both an actor and a producer. Success with his semi-autobiographical TV series “Power” led to the creation of other spin-offs.
50 Cent has made between $200 and $300 million throughout the course of his career via things like record sales, concert tours, and endorsement deals. He has filed for Chapter 11 bankruptcy in July 2015 due to excessive spending on things like real estate, automobiles, and legal disputes. Further details on that report are provided below. 50 Cent’s net worth surpassed $100 million when he declared bankruptcy.
Major Points
- Album’s first installment was a cool $1 million.
- surpassed 30 million record sales around the world.
- Gained $100 million to $150 million from selling Vitamin Water.
- bankruptcy petitioned in June 2015
- An agreement worth up to $150 million was signed with STARZ in October 2018.
Early Life
Curtis James Jackson III, better known as 50 Cent, was born in Queens, New York City on July 6, 1975. His mother, Sabrina, was a heroin dealer in South Jamaica, where he grew up. Jackson was only eight years old when she passed away. 50 Cent’s grandma took over his upbringing. He started distributing drugs after school when he was just 12 years old. His attempt to carry firearms and drug money into his high school in the tenth grade resulted in his arrest. He was again arrested in 1994 for selling cocaine to an undercover police officer, and was arrested again when a police search of his home discovered heroin, crack cocaine, and a firearm. During his six months at boot camp, he studied hard and graduated with his GED.
Background and Early Years in the Gun Industry
In the underground rap scene, Jackson rose to prominence after releasing the controversial tune “How To Rob.” After being wounded and hospitalised in May of 2000, he never got around to releasing the single “Thug Love,” which he recorded with Destiny’s Child. Outside his grandmother’s house in Queens, he had been shot at. 50 Cent was shot nine times (in the hand, arm, hip, both legs, chest, and left cheek) by an alleged assailant named Darryl Baum, formerly Mike Tyson’s bodyguard. Three weeks later, the attacker had been eliminated. After 13 days in the hospital, 50 Cent struck a publishing deal with Columbia Records. In spite of this, he was dropped by Columbia when he attempted to release the song “Ghetto Qu’ran.” He was also blacklisted by the whole American recording industry, so he relocated to Canada to make mixtapes. His “Guess Who’s Back?” mixtape came out in 2002.
Rise to Fame
In 2002, Eminem was the one who uncovered Jackson. Eminem was so thrilled by “Guess Who’s Back?” that he invited Jackson to Los Angeles to meet Dr. Dre. 50 Cent earned a $1 million record deal and released “No Mercy, No Fear.” One of 50 Cent’s songs was featured in Eminem’s “8 Mile” film. 50 Cent’s debut album, “Get Rich or Die Trying,” was a huge success when it was released in 2003. In its first week of release, it topped the Billboard charts and sold nearly a million copies. The lead track, “In Da Club,” became the most played song in radio history in just one week. Interscope soon after granted 50 his own record label, G-Unit Records. In March of 2005, Jackson dropped his new album, titled “The Massacre.” It was another massive hit, selling 1.14 million copies in its first four days and remaining at the top of the Billboard charts for an entire month. In 2007, he released his third studio album titled “Curtis,” which debuted at number two on the Billboard 200. The fourth studio album, titled “Before I Self Destruct,” was released in the autumn of 2009. His fifth studio album, “Street King Immortal,” was not released until November 2012 due to creative differences with his record label. Over 21 million copies of his studio albums have been sold worldwide.
Diverse Activities
50 Cent has done a lot in a short amount of time, including starting the record label G-Unit, a clothing line with the same name, and acting in multiple films alongside giants like Al Pacino and Robert Deniro. In 2012, he launched The Money Team, a boxing marketing organisation.
Declaring Bankruptcy
The Wall Street Journal reported on 50 Cent’s bankruptcy filing under Chapter 11 on July 13, 2015. Since 50 resides in Connecticut, the bankruptcy was submitted to the US bankruptcy court in Hartford.
Filed from 50 Poplar Hill Dr, Farmington, CT 06032, the address belonged to Mike Tyson’s former residence. Assets worth between $10 million and $50 million were listed in 50 Cent’s filing. He claimed to have debts of equivalent amounts.
Rick Ross’ ex-girlfriend, Lavonia Leviston, was awarded $5 million for a sex tape in which she was featured, and the filing came days after a jury ordered 50 to pay the judgement. The judgement was made up of $2.5 million for using her image without permission and another $2.5 million for emotional suffering. The judge in that case also directed Mr. Jackson to present documentation of income and assets so the jury might consider further punitive damages.
In a trademark infringement lawsuit involving a former partner in a headphone company, the $5 million judgement came nearly a year after another judge ordered 50 to pay $17.5 million in damages. When added together, the possible legal judgements in the sex tape case may have cost him $22.5 million.
There were three strategic considerations that contributed to the bankruptcy filing.
- To forestall Lavonia Leviston, a judgement creditor, from interfering with his operations and seizing his property.
- A second goal is to get the creditor to the bargaining table so that the $5 million judgement can be reduced.
- Here, prevents the jury from awarding Ms. Leviston any punitive damages in the sex tape case.
As He Will Elaborate Later:
“When you’re successful and stuff, you become a target. I don’t want to be a sitting duck. I’d rather not be the one to whom people come with wild allegations and waste their time. I’m taking steps that any smart business person would take in this situation.”
And Then his Attorney Said:
“The filing permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganisation of his financial affairs.”
50 Cent’s Wealth
Promotional Vitamin Water
The “Formula 50” Vitamin Water beverage bears 50 Cent’s name and he has acted as the company’s celebrity spokesman in exchange for a minority share in the company.
Coca-Cola paid $4.1 billion in 2007 to acquire Glacéau, the company behind Vitamin Water. It’s commonly thought that 50 Cent made 10x as much off the Vitamin Water sale as he did from his music career, since he sold 10x as much Vitamin Water.
50 was rumoured to own 10% of Vitamin Water, which would have netted him $410 million before taxes. Investment bankers with knowledge of the sale later hinted that 50’s ownership was closer to 2.5%, therefore this figure was generally disregarded. 50 Cent could have made $100-$150 million (before taxes) on the sale of a 2.5% interest.
Earnings By Year
- $32 million in 2007.
- $150,000,000 in 2008.
- $20,000,000 in 2009.
- $8,000,000 in 2010.
- $6,000,000 in 2011.
- $7,000,000 in 2012.
- $7,000,000 in 2013
- $8,000,000 in 2014.
- $4.0 million in 2015.
- $6.0 million in 2016.
- $5,000,000 in 2017.
- $4.0 million in 2018.
- $4,000,000 in 2019.
- Total: $261 million
Effen Vodka Deal
There were rumours in July 2017 that 50 had sold his minority ownership in Effen Vodka for $60 million, but this was never proven. After DJ Envy mentioned the contract on The Breakfast Club radio show, 50 Cent confirmed it on Instagram, however he did not confirm the $60 million figure. The number was reported by Envy without any confirmation or explanation. It’s possible the figure was derived from 50, which would be fascinating to learn and may indicate its veracity. The following figure does not yet reflect 50’s net worth because we are waiting for more official sources of verification.
Agreement with Starz
50 Cent has committed to a four-year overall contract with Starz, the cable network that airs his drama series “Power.” The total potential value of the three-series commitment including milestones is up to $150 million.
Personal Life
50 Cent has a son with ex girlfriend Shaniqua Tompkins. In October of 1996, Marquise Jackson entered the world. Jackson sued Tompkins for $50 million after the claim was rejected. Both have engaged in several online spats with each other.
After fellow rapper Kanye West lambasted President George W. Bush in 2005 for his handling of the Hurricane Katrina crisis, 50 came to Bush’s defence. Later, in 2008 and 2016, Jackson backed Obama and Clinton. Jackson does not drink or do drugs, despite the suggestions made in several of his songs.
Jackson insulted and harassed a caretaker at Cincinnati International terminal in May 2016 after he walked through the terminal and accused the man of being under the influence. The caretaker was a teenager with autism and a hearing impairment, as it found out. The teen’s parents sought to sue 50 Cent when the video went public. 50 Cent donated $100,000 to Autism Speaks and issued an apology as part of the settlement.
Stately Home in Connecticut
There are 37 baths, 21 bedrooms, a gym, a casino, and a nightclub on the 50,000 square foot Connecticut estate that 50 Cent purchased in 2003. He purchased the property from the bank after it had foreclosed and evicted Mike Tyson. In addition to the original purchase price of $4.1 million, 50 Cent spent another $6 million improving the property with amenities like a private theatre, infinity pool, and helicopter landing pad.
During his bankruptcy hearing, 50’s lawyers disclosed that the monthly upkeep and financing of the home cost an average of $72,000. The bill for just his utilities is $18,000.
50 made an initial, unsuccessful sale of the property in 2007 for $18.5 million. Since then, he has been unsuccessfully trying to sell the house. In September of 2018, he dropped the price to $4.995 million, still to no avail. He sold the house in April 2019 for $2.9 million, a loss of $1.2 million from just the buying price alone and 84% from his original offer price.
Rene Bennett is a graduate of New Jersey, where he played volleyball and annoyed a lot of professors. Now as Zobuz’s Editor, he enjoys writing about delicious BBQ, outrageous style trends and all things Buzz worthy.
