• Fri. May 27th, 2022

50 Cent Net Worth 2022 | Salary | Bio

Byadmin

May 5, 2022

$40,000,000
How much money is 50 Cent worth?
50 Cent is a rapper, producer, actor, and entrepreneur from the United States of America. 50 Cent’s net worth is $40 million as of this writing. 50 Cent has earned at least $260 million in his career to date through a variety of endeavors, including record sales, touring, and several brand partnership deals. Unfortunately, he has also been extravagant with his spending (particularly on real estate, automobiles, and lawsuits), prompting him to file for Chapter 11 bankruptcy in July 2015. That filing will be discussed in greater detail later in this article. 50 Cent’s fortune peaked at over $100 million prior to his bankruptcy.

 

IMPORTANT FACTS

Received a $1 million advance on his debut album

Has amassed a global sales total of more than 30 million albums.

Profited between $100 and $150 million from the sale of Vitamin Water

In June 2015, filed for bankruptcy.

Signed a deal with STARZ in October 2018 that could be worth up to $150 million over time.

Residential Real Estate

Childhood

Curtis James Jackson III was born 50 Cent on July 6, 1975, in Queens, New York City. He was raised in South Jamaica by his drug-dealing mother, Sabrina. Jackson was only eight years old when she died. After that, 50 Cent was raised by his grandmother. He began dealing narcotics after school when he was 12 years old. He was arrested in 10th grade after metal detectors at his high school detected him attempting to bring in guns and drug money. He was arrested again in 1994 for selling cocaine to an undercover police officer, and was arrested again when his home was searched and heroin, crack cocaine, and a pistol were discovered. He completed a six-month boot camp and obtained his GED.

 

Career Development and Shooting

Jackson rose to prominence quietly after releasing the contentious underground rap single “How To Rob.” He was preparing to release “Thug Love,” a collaboration with Destiny’s Child, in May 2000 when he was shot and hospitalized. He was ambushed by a gunman outside his grandmother’s Queens home. 50 Cent was shot in the hand, arm, hip, both legs, chest, and left cheek by an assailant (alleged attacker Darryl Baum, who was Mike Tyson’s bodyguard). Three weeks later, the attacker was assassinated. 50 Cent spent 13 days in the hospital and during that time signed a publishing deal with Columbia Records. He was dropped by Columbia, however, after attempting to publish the song “Ghetto Qu’ran.” He was also blacklisted by the United States recording industry as a whole, and as a result, he relocated to Canada to record songs for mixtapes in order to increase his popularity. He released the mixtape “Guess Who’s Back?” in 2002.

 

Ascend to Fame

Jackson was discovered in 2002 by Eminem. Eminem was so taken with “Guess Who’s Back?” that he invited Jackson to meet Dr. Dre in Los Angeles. 50 Cent signed a one-million-dollar record deal and released the single “No Mercy, No Fear.” The soundtrack to Eminem’s film “8 Mile” included a 50 Cent song. 50 Cent shot to fame in 2003 with the release of his debut album “Get Rich or Die Trying.” It debuted at the top of the Billboard charts, selling nearly a million copies in its first four days. Within a week of its release, the lead single, “In Da Club,” broke the record for most-played song in radio history. Interscope soon after gave 50 his own label, G-Unit Records. Jackson released his follow-up album, “The Massacre,” in March 2005. It was another smash hit, selling 1.14 million copies in the first four days and remaining at the top of the Billboard charts for six consecutive weeks. In 2007, he released his third studio album, “Curtis,” which debuted at No. 2 on the Billboard 200. The fourth album, “Before I Self Destruct,” was released in November 2009. Conflicts with his record label forced him to delay the release of his fifth album, “Street King Immortal,” until November 2012. His studio albums have sold over 21 million copies to date.

Other interests

In his brief time in the spotlight, 50 Cent founded the record label G-Unit, launched the G-Unit clothing line, and even appeared in several films alongside legends such as Al Pacino and Robert Deniro. In 2012, he founded The Money Team, a boxing promotion company.

 

Bankruptcy

The Wall Street Journal reported on July 13, 2015, that 50 Cent had filed for Chapter 11 bankruptcy protection. The bankruptcy was filed in the United States bankruptcy court in Hartford, Connecticut, as 50 is a Connecticut resident.

 

50 was residing in Mike Tyson’s former mansion at 50 Poplar Hill Dr, Farmington, CT 06032. According to the filing, 50 Cent’s assets were valued between $10 million and $50 million. He asserted that he owed the same amount in debts.

 

The filing comes days after a jury awarded $5 million to Rick Ross’ ex-girlfriend, Lavonia Leviston, for intentionally releasing a sex tape featuring her. The judgment included $2.5 million for the unauthorized use of her image and another $2.5 million for emotional distress. Mr. Jackson was also ordered by the judge in that case to produce proof of income and worth so that the jury could determine additional punitive damages.

 

The $5 million judgment comes less than a year after another judge ordered 50 to pay $17.5 million in damages in connection with a trademark infringement case involving a former partner in a headphone company. When combined, he faced a potential legal judgment of $22.5 million, even before punitive damages were calculated in the sex tape case.

 

At least in part, the bankruptcy filing was a strategic move for the following reasons:

 

#1) To preclude the judgment creditor (Lavonia Leviston) from disrupting his business operations and enforcing liens against his property.

#2) To compel the creditor to the negotiating table in order to obtain a reduction in the $5 million judgment.

#3) To preclude the jury in the sex tape case from awarding additional punitive damages to Ms. Leviston.

Later, he would explain:

 

“When you achieve success and material possessions, you become a target. I’m not interested in being a bullseye. I don’t want anyone to come to me with astronomical claims and go through all of that. I’m exercising the due diligence that any prudent businessperson would in this situation.”

 

And then his attorney added:

 

“The filing enables Mr. Jackson to continue his involvement in various business ventures and his work as an entertainer while he works to reorganize his financial affairs in an orderly fashion.”

 

Deal on Vitamin Water

50 Cent’s most astute financial move occurred when he negotiated a minority stake in Vitamin Water in exchange for serving as their celebrity spokesperson and lending his name to the “Formula 50” drink. The Coca-Cola Company acquired Vitamin Water from Glaceau for $4.1 billion, earning 50 Cent roughly ten times his previous earnings from rapping. 50’s equity stake in Vitamin Water was initially reported to be 10%, implying a $410 million windfall for him. Investment bankers familiar with the transaction indicated that 50’s stake was closer to 2.5 percent, implying that he earned between $100 and $150 million from the sale (before taxes). Not bad at all!

 

Yearly Earnings

$32 million in 2007

$150 million in 2008

2009: $20,000,000,000

$8 million in 2010

$6 million in 2011

$7 million in 2012

$7 million in 2013

$8 million in 2014

$4 million in 2015

$6 million in 2016

$5 million in 2017

$4 million in 2018

$4 million in 2019

 

$261 million in total

 

Deal on Effen Vodka

In July 2017, 50 sold his minority stake in Effen Vodka for $60 million, according to reports (but not confirmed). 50 Cent confirmed the deal on Instagram, but did not confirm the $60 million price tag, which can be traced back to DJ Envy on The Breakfast Club radio show. Envy reported the figure without citing a source or verifying it. It is possible that the number came from 50, which would be extremely interesting to learn and could indicate that it is genuine, but it could also be an exaggeration. We are currently awaiting additional official sources of verification, and as a result, the figure has not yet been factored into 50’s net worth.

 

Starz Arrangement

In October 2018, 50 Cent inked a four-year overall deal with Starz, which will air his drama “Power” on the cable network. The deal, which includes a commitment to three series, could be worth up to $150 million if all milestones are met.

 

Private Life

50 Cent has a son from a previous relationship with Shaniqua Tompkins. In October 1996, Marquise Jackson was born. Tompkins later filed a $50 million lawsuit against Jackson, but the suit was dismissed. The two have clashed numerous times on social media.

 

50 defended President George W. Bush in 2005, following Kanye West’s criticism of the president’s slow response to the Hurricane Katrina disaster. Later in 2008, Jackson endorsed Barack Obama, and in 2016, he endorsed Hillary Clinton. Despite the lyrics in several of his songs, Jackson is not a drug or alcohol user.

 

Jackson harassed and insulted a janitor at Cincinnati International Airport in May 2016 after accusing the janitor of being under the influence. As it turned out, the janitor was a teenager who was autistic and hard of hearing. The video went viral, and the teenager’s parents threatened to sue 50 Cent. They settled for a $100,000 donation to Autism Speaks and an apology from 50 Cent.

 

Residential Real Estate

50 Cent purchased a 17-acre property in Connecticut in 2003, which includes a 50,000-square-foot residence with 37 bathrooms, 21 bedrooms, a gym, a casino, and a nightclub. He purchased the house from a bank that had just evicted the previous owner, Mike Tyson. 50 Cent purchased the property for $4.1 million and then invested an additional $6 million in upgrades, including the addition of a private movie theater, an infinity pool, and a helicopter pad.

 

We learned from 50’s lawyers during his bankruptcy proceedings that the house typically costs around $72,000 per month to maintain and finance. The cost of his utilities alone is $18,000.

 

50 attempted unsuccessfully to sell the home for $18.5 million in 2007. He has been attempting to sell the house ever since, but to no avail. He reduced the price to $4.995 million in September 2018, but received no takers. He still owns the property as of this writing.

Leave a Reply

Your email address will not be published.