50 Cent, an American rapper, producer, actor, and entrepreneur, boasts a net worth estimated at $40 million. Rising to fame in the early 2000s, his debut album “Get Rich or Die Tryin'” propelled him to global recognition, achieving platinum status multiple times and yielding chart-toppers like “In Da Club.” His subsequent albums, including “The Massacre,” enjoyed substantial success. Renowned for his unique blend of aggressive verses and infectious hooks, 50 Cent has sold millions of albums worldwide.
Beyond music, he has made significant forays into business, notably with his investment in Vitamin Water, which resulted in a sizable windfall upon the company’s acquisition by Coca-Cola. Additionally, 50 Cent has successfully transitioned into the realms of film and television, both as a performer and a producer, with his semi-autobiographical series “Power” spawning numerous spin-offs.
| Category | Richest Celebrities › Rappers |
|---|---|
| Net Worth | $40 Million |
| Birthdate | Jul 6, 1975 (48 years old) |
| Birthplace | South Jamaica |
| Gender | Male |
| Height | 6 ft (1.83 m) |
| Profession | Businessperson, Actor, Investor, Film Producer, Rapper, Screenwriter, Entrepreneur, Songwriter |
| Nationality | United States of America |
Throughout his career, 50 Cent has amassed earnings ranging from $200-300 million, stemming from record sales, tours, and various brand partnerships. However, his extravagant spending, particularly on real estate, cars, and legal battles, led him to file for Chapter 11 bankruptcy in July 2015. More details on this filing will be explored later in this article. Prior to the bankruptcy, 50 Cent’s wealth had peaked at over $100 million.
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Early Life
Curtis James Jackson III, better known as 50 Cent, entered the world on July 6, 1975, in Queens, New York City. Raised in the South Jamaica neighborhood, he was primarily cared for by his mother, Sabrina, who was involved in drug dealing.
Tragically, Sabrina passed away when Jackson was just eight years old, leaving him in the care of his grandmother. At the tender age of 12, he delved into the world of narcotics trade after school hours. However, his involvement in illicit activities escalated during his high school years. In 10th grade, he faced legal trouble after being apprehended at school with firearms and drug proceeds.
Subsequently, he encountered legal repercussions in 1994 for selling drugs to an undercover officer. Further legal entanglements ensued when a police search of his residence uncovered various illegal substances and a firearm. This led to a six-month stint in a boot camp, during which he obtained his GED.
Early Career and Shooting
Jackson rose to prominence with the controversial underground rap track “How To Rob.” In May 2000, he was poised to release “Thug Love,” a collaboration with Destiny’s Child, when he became the victim of a shooting outside his grandmother’s residence in Queens.
Allegedly targeted by Darryl Baum, purportedly Mike Tyson’s bodyguard, Jackson sustained multiple gunshot wounds to his hand, arm, hip, legs, chest, and left cheek. The assailant was later killed, and Jackson spent 13 days in the hospital, during which he secured a publishing deal with Columbia Records.
However, Columbia dropped him after his attempt to release “Ghetto Qu’ran.” Subsequently, he faced blacklisting from the entire US recording industry, prompting him to travel to Canada to produce mixtape tracks in order to rebuild his reputation. In 2002, he unveiled the mixtape “Guess Who’s Back?”.
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Rise to Fame
Jackson was discovered by Eminem in 2002 when the latter was deeply impressed by “Guess Who’s Back?” Eminem extended an invitation to Jackson to meet Dr. Dre in Los Angeles. Following this encounter, 50 Cent secured a $1 million record deal and unveiled “No Mercy, No Fear.” Additionally, 50 Cent’s presence was felt in Eminem’s movie “8 Mile” through a featured song on the soundtrack. 2003 marked the zenith of 50 Cent’s fame with the release of his debut album “Get Rich or Die Trying,” which stormed to the top of the Billboard charts, selling nearly a million copies within four days.
The album’s lead single, “In Da Club,” swiftly became the most-listened-to song in radio history within a week of its release. This success led Interscope to grant 50 Cent his own label, G-Unit Records. Jackson’s next album, “The Massacre,” was unleashed in March 2005, achieving remarkable success by selling 1.14 million copies in its initial four days and securing the top position on the Billboard charts for six consecutive weeks.
In 2007, Jackson released his third album, “Curtis,” which debuted at No. 2 on the Billboard 200. Following a series of disagreements with his record label, Jackson’s fifth album, “Street King Immortal,” was delayed until November 2012. Nonetheless, his studio albums have collectively sold over 21 million units to date.
Other pursuits
During his brief stint in the limelight, 50 Cent established G-Unit Records, initiated the G-Unit clothing company, and showcased his acting chops in numerous films alongside icons such as Al Pacino and Robert De Niro. Additionally, he ventured into the realm of boxing promotion by founding The Money Team in 2012.
Bankruptcy Filing
The Wall Street Journal reported on July 13, 2015, that 50 Cent had initiated Chapter 11 personal bankruptcy proceedings. These proceedings were filed in the US bankruptcy court in Hartford, Connecticut, as 50 Cent was a resident of the state at the time.
At the time of filing, 50 Cent resided in Mike Tyson’s former mansion at 50 Poplar Hill Dr, Farmington, CT 06032. In the bankruptcy documents, 50 Cent’s assets were estimated to be between $10 million and $50 million, mirroring his reported debts.
The filing occurred shortly after a jury ordered 50 Cent to pay Lavonia Leviston, the ex-girlfriend of Rick Ross, a $5 million judgment for the deliberate release of a sex tape featuring her. The judgment included $2.5 million for unauthorized use of her image and an additional $2.5 million for emotional distress. The presiding judge also instructed Mr. Jackson to provide evidence of his income and net worth for the jury’s consideration of additional punitive damages.
About a year after a different judge had ordered 50 to pay $17.5 million in damages for trademark infringement linked to a former partner in a headphone company, a $5 million judgment was handed down in the sex tape case, bringing his potential legal liabilities to $22.5 million before punitive damages. The decision to file for bankruptcy was strategic, driven by several objectives:
Firstly, to thwart Lavonia Leviston, the judgment creditor, from disrupting his business operations or placing liens on his assets.
Secondly, to compel the creditor to negotiate and potentially reduce the $5 million judgment.
And thirdly, to preempt any further punitive damages from being awarded by the jury in the sex tape case.
Explaining his decision, he emphasized the need to safeguard against becoming a target for exorbitant claims, citing the precautions typical of a prudent businessperson facing such circumstances.
He clarified that the bankruptcy filing would enable him to sustain involvement in his various business ventures and entertainment career while he undertakes a methodical reorganization of his financial matters.
Vitamin Water Deal
50 Cent’s shrewdest financial move occurred when he secured a minority share in Vitamin Water by leveraging his status as their celebrity promoter and endorsing the “Formula 50” beverage.
In 2007, Coca-Cola acquired Glacéau, the company behind Vitamin Water, for a staggering $4.1 billion. It’s widely speculated that 50 Cent’s earnings from the Vitamin Water deal surpassed his entire music career earnings by approximately tenfold.
Initially, reports suggested 50 Cent held a 10% equity stake in Vitamin Water, potentially yielding a pre-tax windfall of $410 million. However, investment experts familiar with the transaction later indicated that his actual stake was likely closer to 2.5%. Under this scenario, 50 Cent’s earnings from the sale would range between $100 million to $150 million (pre-tax).
Earnings By Year
| Year | Revenue (in millions) |
|---|---|
| 2007 | $32 |
| 2008 | $150 |
| 2009 | $20 |
| 2010 | $8 |
| 2011 | $6 |
| 2012 | $7 |
| 2013 | $7 |
| 2014 | $8 |
| 2015 | $4 |
| 2016 | $6 |
| 2017 | $5 |
| 2018 | $4 |
| 2019 | $4 |
| Total | $261 |
Effen Vodka Deal
In July 2017, reports surfaced, albeit unconfirmed, suggesting that 50 Cent had divested his minority stake in Effen Vodka for $60 million. Although 50 Cent acknowledged the deal via Instagram, he refrained from confirming the $60 million figure, which was initially mentioned by DJ Envy on The Breakfast Club radio show without any cited sources or verification.
The origin of this figure remains uncertain; while it could have originated from 50 Cent himself, its accuracy is questionable. Pending further official verification, this sum has not been included in 50 Cent’s aforementioned net worth.
Starz Deal
In October 2018, 50 Cent signed a four-year overall deal with Starz, the cable home to his drama show “Power.” The deal, which includes a three-series commitment, could ultimately be worth $150 million if all milestones are achieved.
Personal Life
50 Cent shares a son, Marquise Jackson, with his former girlfriend Shaniqua Tompkins, who was born in October 1996. Tompkins once filed a lawsuit against Jackson seeking $50 million, which was later dismissed. Their relationship has been marked by numerous public disputes on social media.
In 2005, 50 Cent expressed support for President George W. Bush, countering fellow rapper Kanye West’s criticism of Bush’s response to Hurricane Katrina. However, Marquise Jackson’s political allegiance leaned towards Barack Obama in 2008 and Hillary Clinton in 2016. Despite the themes often present in his music, Jackson does not engage in drug or alcohol use.
In May 2016, Jackson encountered a situation at Cincinnati International Airport where he confronted a janitor, accusing them of being intoxicated. This incident, captured on video, gained widespread attention when it was revealed that the janitor was a teenager with autism and hearing impairment. Following public outcry, 50 Cent reached a settlement with the teenager’s parents, including a $100,000 donation to Autism Speaks and an apology.
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Connecticut Mansion
In 2003, 50 Cent acquired a sprawling 17-acre property in Connecticut, boasting a colossal 50,000-square-foot mansion equipped with 37 bathrooms, 21 bedrooms, as well as amenities like a gym, casino, and nightclub. Previously owned by Mike Tyson, who faced financial troubles amid a divorce and bankruptcy declaration, the estate was transferred to Tyson’s ex-wife, Monica Turner. Turner subsequently sold the property to 50 Cent for $4.1 million, investing an additional $6 million in enhancements, such as a private movie theater, infinity pool, and helicopter pad.
During his 2015 bankruptcy proceedings, it was revealed by 50 Cent’s legal team that the upkeep and financing of the residence amounted to approximately $72,000 monthly, with utilities alone costing $18,000.
Despite efforts to sell the property, including an initial listing in 2007 for $18.5 million, 50 Cent encountered persistent challenges. Despite price reductions, such as dropping to $4.995 million in September 2018, no buyers emerged. Ultimately, in April 2019, the mansion was sold for $2.9 million, marking an 84% discount from the original asking price and resulting in a $1.2 million loss relative to the purchase price.