50 Cent opened up about how he blew $470 million fortune and ended up bankrupt
- He sold 30 million albums in total
- In 2010 his net worth was said to be $500 million
- Then he declared himself bankrupt in 2015
Published on Nov 17, 2023 at 9:34 PM (UTC+4)
by Amelia Jean Hershman-Jones
Last updated on Nov 20, 2023 at 10:22 PM (UTC+4)
Edited by
Alessandro Renesis
While you might remember him from his heyday of the 2000s – you might not realise the rollercoaster that 50 Cent has been on financially.
The Grammy-Award-winner’s descent into bankruptcy was almost as steep as the star’s rise to fame.
And from his fleet of cars to his private jet and even a jet car – he loves to splash the cash.
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TikToker, Frank Michael Smith, broke down the rapper’s financial journey for his 1.7m followers on the platform.
Smith explains that 50 Cent, real name Curtis James Jackson III enjoyed a meteoric rise to fame in 2003.
‘Get Rich or Die Tryin’ became one of the most successful albums of all time and 50 Cent sold 30 million albums in total.
That was in a era when music fans were still paying $15 for a CD.
In addition to his music he initially made some pretty smart business decisions.
These included investing in a stake in VitaminWater in 2004.
That earned him somewhere in the region of $100 million after Coca-Cola acquired brand for a massive $4.1 billion.
In fact in 2010, his net worth was said to be $500 million.
However other financial decisions didn’t pay off as well with the rapper “living beyond his means”.
50 Cent reportedly investing in stock that didn’t pay off during the 2008 global recession.
Some of his money evaporated due to ongoing renovations on his 18-bedroom mansion in Connecticut and legal battles.
However it was his legal issues that really ran the well dry, since he’s paid $23 million in legal fees during the past 20 years.
One ongoing, five-year legal battle involved a leaked sex tape featuring Rick Ross’s girlfriend.
Ross is more than able to continue fighting in court financially due to his huge net worth.
Another lawsuit against a headphone company cost him $22 million.
While few people knew about this, it’s likely because a lof of his financial flexes were fronts.
Namely he rented out Bentleys, private jets and jewellery to present the image that the lifestyle was still within his grasp.
However he was forced to file for bankruptcy in 2015 – even though he might not have had as little in the bank as you’d think.
He told The Guardian in 2020 that the financial decision actually helped him start over.
“Business people will do that in a heartbeat before losing money,” he said.
“Because it means they have the ability to be secure and invest again.”
Not long after declaring bankruptcy 50 Cent was offered the chance to act in and executive produce TV show ‘Power’.
He signed a $150 million deal.
Today he is worth approximately $40 million.
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London-based Amelia cut her journalistic teeth covering all things lifestyle, wellness and luxury in the UK capital. Fast-forward a decade and the experienced content creator and editor has put pen to paper for glossy magazines, busy newsrooms and coveted brands. When her OOO is on you can find her spending quality time with her young family, in the gym or exploring the city she loves.
