50 Cent Net Worth
The 50 Cent net worth is estimated to be around $30 million. Despite filing for bankruptcy in 2015, he has managed to bounce back and continue to grow his wealth through his business ventures and investments. Currently, 50 Cent is working on several new projects, including a partnership with his company, G-Unit, and Starz for the production of the hit series, “Power.” He is also working on developing a new line of products, including a line of high-end headphones and a line of energy drinks.
50 Cent, born Curtis James Jackson III, is a rapper, actor, entrepreneur, and investor. With a career that has spanned over two decades, 50 Cent has made a name for himself in the entertainment industry and has become one of the richest rappers in the world. In this blog post, we will take a closer look at the life and net worth of 50 Cent, and how he has managed to build and maintain his fortune.
Early life | 50 Cent net worth
50 Cent’s real name is Curtis James Jackson III, and he was raised in Queens, New York by his mother, Sabrina, who was a drug dealer. Unfortunately, Sabrina passed away when 50 Cent was just 8 years old, and he was then raised by his grandmother. Despite these challenges, 50 Cent became involved in dealing drugs at the young age of 12. He was arrested multiple times, including once in high school for attempting to bring guns and drug money into the school and another time for selling cocaine to an undercover police officer. A search of his home also revealed that he had heroin, crack cocaine, and a pistol in his possession. As a result, he served six months in a boot camp and earned his GED.
Despite these challenges, 50 Cent used his experiences to inspire his music, and he began rapping at the age of twelve. In the early 2000s, he rose to fame with his debut album, “Get Rich or Die Tryin’,” which went on to sell over eight million copies worldwide.
Early career and shooting | 50 Cent net worth
Jackson became somewhat popular after releasing a controversial rap single called “How to Rob.” He was preparing to release a single with Destiny’s Child called “Thug Love” in May 2000 when he was shot and taken to the hospital. He had been attacked by a gunman outside his grandmother’s house in Queens, who was later killed. 50 Cent was hospitalized for almost two weeks, during which he signed a publishing deal with Columbia Records. However, he was dropped by Columbia when he attempted to release a song called “Ghetto Qu’ran,” and he was blacklisted by the entire U.S. recording industry. He went to Canada to record songs for mixtapes to increase his popularity, and in 2002 he released the mixtape “Guess Who’s Back?”.
Eminem discovered Jackson in 2002 after being impressed with his mixtape “Guess Who’s Back?” and brought him to meet Dr. Dre in Los Angeles. This led to a $1 million record deal for 50 Cent, who released “No Mercy, No Fear.” His song was also featured in Eminem’s movie “8 Mile.” 50 Cent became incredibly popular in 2003 with his debut album “Get Rich or Die Trying,” which sold almost a million copies in its first four days and had the lead single “In Da Club,” which set a radio play record. He was then given his own label, G-Unit Records, by Interscope. Jackson’s subsequent albums “The Massacre,” “Curtis,” “Before I Self Destruct,” and “Street King Immortal” were all released between 2005 and 2012, with varying levels of success. In total, his studio albums have sold over 21 million units.
Building a Music Empire | 50 Cent net worth
Over the years, 50 Cent has released multiple albums and has collaborated with many other artists in the music industry. He has also been recognized for his work, receiving several awards and nominations, including Grammy nominations for Best Rap Performance and Best Rap Album. In addition to his music career, 50 Cent has also made a name for himself as an actor, appearing in movies such as “Get Rich or Die Tryin’,” “Righteous Kill,” and “Den of Thieves.”
Investing in Business Ventures | 50 Cent net worth
While 50 Cent has been successful in the music and acting industries, he has also been successful in business ventures. He has invested in companies such as Vitamin Water, which was eventually sold for $4.1 billion. He has also invested in several other companies, including SMS Audio and Effen Vodka. These investments have allowed him to diversify his wealth and maintain a steady income, even when his music and acting careers have slowed down.
He also started G-Unit records, launching the G-Unit clothing company, acting in several movies alongside legends such as Al Pacino and Robert De Niro, and creating a boxing promotion company called The Money Team in 2012.
On July 13, 2015, the Wall Street Journal reported that 50 Cent had filed for Chapter 11 personal bankruptcy protection in the US bankruptcy court in Hartford, Connecticut, where he resided in Mike Tyson’s former mansion at the time. 50 Cent claimed to have assets and debts in the range of $10 million to $50 million. This came after a jury ordered him to pay a $5 million judgment for the intentional release of a sex tape involving Rick Ross’ ex-girlfriend, Lavonia Leviston, with $2.5 million for unauthorized use of her image and another $2.5 million for emotional distress. The judge in the case also required Mr. Jackson to provide evidence of his income and worth for further punitive damages.
Around one year prior to the bankruptcy filing, a judge ordered 50 Cent to pay $17.5 million in a trademark infringement case related to his former headphone company partner, making his potential legal judgments $22.5 million when combined with the $5 million judgment in the sex tape case. Therefore, the bankruptcy filing was a strategic move aimed at preventing the judgment creditor from disrupting his business operations or placing liens on his assets, forcing the creditor to negotiate the judgment down, and preventing the jury from awarding further punitive damages to the plaintiff.
How much money did 50 Cent make off vitamin water?
50 Cent reportedly made $100 million in stake off the Vitamin Water company. In 2007, he signed an endorsement deal with Glacéau, the parent company of Vitamin Water, for a minority stake in the company and the creation of his own flavor called “Formula 50.” When Coca-Cola acquired Glacéau for $4.1 billion later that year, 50 Cent’s stake in the company was estimated to be worth around $100 million, although the exact amount has never been publicly disclosed.
50 Cent Personal Life
50 Cent has a son named Marquise Jackson with his former girlfriend Shaniqua Tompkins. Tompkins sued him for $50 million, but the case was dismissed, and they have since had several public feuds on social media. 50 Cent initially supported George W. Bush in 2005 after Kanye West criticized his response to Hurricane Katrina, but later supported Barack Obama in 2008 and Hillary Clinton in 2016. Despite his song lyrics, 50 Cent does not use drugs or alcohol. In 2016, he insulted and harassed a janitor at Cincinnati International Airport whom he accused of being under the influence, but who was actually an autistic and hearing-impaired teenager. The parents of the teenager settled with 50 Cent after he donated $100,000 to Autism Speaks and apologized.
Effen Vodka Deal
In July 2017, 50 Cent’s sale of his stake in Effen Vodka for $60 million was reported, but not officially confirmed. However, he later confirmed the deal on Instagram without confirming the sale amount. The sale has not yet been factored into his net worth as it lacks official verification.
In October 2018, 50 Cent signed a four-year deal with Starz, the network that airs his show “Power,” which includes a commitment to three series and could be worth up to $150 million if certain goals are met.
In 2003, 50 Cent purchased a 17-acre property in Connecticut which included a large mansion with 37 bathrooms, 21 bedrooms, a gym, a casino, and a nightclub for $4.1 million. He spent an additional $6 million on upgrades including a private movie theater, an infinity pool, and a helicopter pad. During his bankruptcy proceedings, it was revealed that the property cost $72,000 per month to maintain and finance with $18,000 utilities. 50 Cent tried to sell the house in 2007 for $18.5 million, but could not find a buyer, and lowered the price to $4.995 million in September 2018, still without success. He eventually sold the property in April 2019 for $2.9 million, an 84% discount to his original offer price and a $1.2 million loss compared to his purchase price.