Just four years ago, 50 Cent’s fortune reached a peak of $155 million. A series of legal battles diminished this causing the rapper to file for bankruptcy as he drowns in $32.5 million worth of debt.
But as Instagram pictures of the artist posing with stacks of cash began gaining attention, people started to doubt his story. Denying the fabrication associations, he said that the wads of money in his photos were just props but also admitted that his filing for bankruptcy was a strategic business decision.
Here’s a bigger picture of 50 Cent’s meteoric rise to music stardom and the events that led to his subsequent fall from grace.
Rise to Fame and Fortune
Born Curtis James Jackson III, the 43-year-old Queens native was discovered by fellow rapper Eminem. He would rise to fame as a musician in 2002 when he was signed by Dr. Dre for a $1 million record deal.
The following years will prove to be fruitful to 50 Cent as hit songs like “Candy Shop”, “In Da Club” and “21 Questions” turned him into the most successful musicians in the hip-hop genre. In fact, he would garner the second position as the Hip-Hop Cash Kings list’s highest earner in 2007 when he earned $12 million in 12 months…
He would eventually branch out into other ventures like acting with his stints in films like “Get Rich or Die Tryin’” and “All Things Fall Apart”.
Wealth Expansion and Business Ventures
While album sales brought in big bucks, with his album “Get Rich or Die Tryin’” selling 12 million CDs in just six months, the majority of his wealth was made from other financial ventures.
The Grammy award-winning musician has notably served as a celebrity spokesperson and endorser for brands like Glacéau and Vitamin Water. In fact, 50 Cent’s endorsement has even been credited for Vitamin Water’s popularity.
Meanwhile, he also acquired shares from the companies he worked with. So when beverage giant Coca-Cola bought out Glacéau in 2007, 50 Cent reportedly earned a whopping $100 million after tax as one of its minority shareholders.
He expanded into the fashion industry in 2014 signing a $78 million deal with FRIGO Revolution, an underwear brand and became the company’s chief designer.
Fall and Bankruptcy
The singer’s fortune would reach its peak in 2015 when his net worth climbed to $155 million but his time at the top didn’t last long.
His downfall began when Sleek Audio sued him for $17 million after accusing him of copying the headphone company’s designs. His next scandal blew up in the middle of the same year when he was convicted of an online crime for which he was ordered to pay another $5 million.
In the end, he was left with $32.5 million of debt and $16 million worth of remaining assets leaving the former hundred millionaires around $16.5 million in the red.