Rich Profiles Logo
50 Cent Net Worth

What is 50 Cent’s net worth In 2024?

With a $40 million net worth, 50 Cent is an American rapper, actor, and businessman. His breakthrough album “Get Rich or Die Tryin'” launched him worldwide stardom in the early 2000s, hitting platinum several times and producing singles like “In Da Club.” His other albums, such as “The Massacre,” were also quite successful. 50 Cent is a well-known artist who combines angry lyrics with catchy tunes in his unique style. He has sold millions of CDs globally. But his impact goes beyond only music. He has accomplished great things in the business world, most notably with his investment in Vitamin Water, which paid off handsomely when Coca-Cola acquired the company.

In his career, 50 Cent has made between $200 and $300 million from various sources, including record sales, touring, and brand collaboration deals. Regretfully, he overspent (particularly on vehicles, real estate, and legal fees), which led to his Chapter 11 in July 2015. Later in this piece, there will be much more on that filing. Before filing for bankruptcy, 50 Cent’s wealth exceeded $100 million.

Early Life Of 50 Cent

50 Cent’s father, Curtis James Jackson III, was born on July 6, 1975, in Queens, New York City. He was raised in the South Jamaica neighbourhood by heroin dealer Sabrina, his mother. When she died, Jackson was just eight years old. He started distributing drugs after school at the age of twelve. He was taken into custody in the tenth grade after trying to enter his high school with guns and cash for drugs and getting detected by metal detectors.

Early Career and Shooting Of 50 Cent

Jackson became somewhat well-known after releasing the contentious underground rap song “How To Rob.” He was shot and admitted to the hospital in May 2000, just as he was getting ready to record “Thug Love,” a single featuring Destiny’s Child. A gunman had ambushed him outside his grandmother’s Queens residence. The claimed attacker fired nine rounds; Darryl Baum, a bodyguard for Mike Tyson, and 50 Cent took hits to his hand, arm, hip, both legs, chest, and left cheek.

Three weeks later, the attacker was killed. During his 13-day stay in the hospital, 50 Cent inked a publishing contract with Columbia Records. Then again, Columbia fired him when he attempted to release the song “Ghetto Qu’ran.” To increase his notoriety, he relocated to Canada to record songs for mixtapes after being placed on a nationwide blocklist by the US recording industry. He dropped the mixtape “Guess Who’s Back?” in 2002.

Rise to Fame Of 50 Cent

It was in 2002 that Eminem first learned about Jackson. Eminem was so impressed with “Guess Who’s Back?” that he invited Jackson to see Dr. Dre in Los Angeles. After landing a $1 million record deal, 50 Cent released “No Mercy, No Fear.” A 50 Cent song was on the soundtrack for the movie “8 Mile” directed by Eminem. 50 Cent saw great success in 2003 with the release of his breakout album, “Get Rich or Die Trying.” It sold about a million copies in its first four days of availability and landed at the top of the Billboard charts. “In Da Club,” the first single, shattered the record for the most radio plays in a week.

Life Of 50 Cent

Soon after, 50 received his label, G-Unit Records, from Interscope. “The Massacre,” Jackson’s second album, was released in March 2005. His third album, “Curtis,” came out in 2007 and landed at number two on the Billboard 200. “Before I Self Destruct,” the fourth album, was available in November 2009. “Street King Immortal,” his fifth album, was postponed until November 2012 because of conflicts with his record label. More than 21 million copies of his studio albums have been sold.

Other pursuits Of 50 Cent

During his brief period in the public eye, 50 Cent established the record label G-Unit Records, introduced the G-Unit apparel line, and even appeared in several films alongside film industry heavyweights such as Robert Deniro and Al Pacino. 2012 saw the formation of The Money Team, a boxing promotion firm.

Bankruptcy Filing Of 50 Cent

The Wall Street Journal revealed on July 13, 2015, that 50 Cent had declared personal bankruptcy under Chapter 11. Since 50 is a Connecticut resident, the bankruptcy was filed in the US bankruptcy court in Hartford, Connecticut.

50 was residing in Mike Tyson’s former estate at 50 Poplar Hill Dr., Farmington, CT 06032, at the time of the filing. 50 Cent disclosed assets in the $10 million to $50 million range in the form. He asserted that his debts were equal.

The application was submitted a few days after a jury found that 50 should pay $5 million to Lavonia Leviston, Rick Ross’s ex-girlfriend, for purposefully releasing a sex tape featuring her. For the jury to assess additional punitive damages, the judge also mandated that Mr. Jackson provide documentation of his earnings and value.

About a year earlier, in a trademark infringement case involving a former partner, another judge had ordered 50 to pay $17.5 million in damages. This was before the $5 million award. Combined, he faced possible court awards of $22.5 million before punitive damages in the sex tape case were determined.

The three factors below indicate that the bankruptcy filing was, at the very least, partly a calculated move:

#1) To stop Lavonia Leviston, the judgment creditor, from interfering with his business affairs and putting liens on his property.

Secondly, to compel the creditor to negotiate to reduce the $5 million judgment.

#3) To keep Ms. Leviston from receiving more punitive damages from the jury in the sex tape case.

Later on, he would clarify:

“You become a target when you’re successful and things. I want to avoid being the target. I would hate for someone to choose me as the guy they go to for huge claims and all of stuff. In this case, I’m taking the safety measures that any sane businessperson would.”

Vitamin Water Deal Of 50 Cent

The most astute financial move made by 50 Cent was when he agreed to accept partial ownership in Vitamin Water in exchange for serving as their celebrity spokesperson and donating his name to the “Formula 50” beverage.

For $4.1 billion, Coca-Cola acquired Glacéau, the company that makes Vitamin Water, in 2007. Most people agree that 50 Cent made almost ten times as much money from selling Vitamin Water as he had from any previous music venture.

Click Here to read about Jeff Bezos’s Net Worth.

According to early reports, 50 owned 10% of Vitamin Water, which would have generated a $410 million pre-tax profit. Investment bankers involved with the purchase strongly discounted this figure, later hinting that 50’s share was closer to 2.5 per cent. If 50 Cent had held a 2.5% share, he would have made between $100 and $150 million (before taxes) from the sale.

Earnings By Year Of 50 Cent

2007: $32 million

2008: $150 million

2009: $20 million

2010: $8 million

2011: $6 million

2012: $7 million

2013: $7 million

2014: $8 million

2015: $4 million

2016: $6 million

2017: $5 million

2018: $4 million

2019: $4 million

Total: $261 million

Effen Vodka Deal Of 50 Cent

It was rumoured (but not verified) in July 2017 that 50 had sold his minority interest in Effen Vodka for $60 million. Using Instagram, 50 Cent verified that the deal had occurred, but he did not validate the $60 million figure linked to DJ Envy on The Breakfast Club radio program. Envy disclosed the number but gave no reference or way to confirm it. The figure originated from 50, which would be fascinating to learn about and might indicate that it’s accurate, but it could also be an overstatement. Since we are still awaiting more official sources of confirmation, the figure has not yet been included in the list of 50’s net worth above.

Starz Deal Of 50 Cent

50 Cent inked a four-year overall contract in October 2018 with Starz, the cable network that hosts his drama series “Power.” If all criteria are met, the deal—including a three-series commitment—could be worth $150 million.

Personal Life Of 50 Cent

50 Cent and his ex-girlfriend Shaniqua Tompkins became parents to a son. The birth month of Marquise Jackson is October 1996. Later, Tompkins filed a $50 million lawsuit against Jackson, but it was dismissed. The two have frequently disagreed on social media.

In 2005, 50 backed President George W. Bush following criticism from fellow rapper Kanye West on the president’s delay in responding to the Hurricane Katrina tragedy. Jackson endorsed Hillary Clinton in 2016 and Barack Obama in 2008. Jackson does not use alcohol or drugs, unlike what is said in several of his songs.

Following his stroll through Cincinnati International Airport in May 2016, Jackson verbally and physically assaulted a janitor there, accusing him of being intoxicated. The janitor turned out to be a teenage girl with Autism and hearing loss. After the teen’s parents saw the viral video, they sued 50 Cent. They agreed to an apology from 50 Cent and a $100,000 gift to Autism Speaks.

Connecticut Mansion Of 50 Cent

Acquiring a 17-acre property in Connecticut in 2003, 50 Cent built a 50,000-square-foot home with 21 bedrooms, 37 bathrooms, a gym, a casino, and a nightclub. Mike Tyson, the previous owner, had just been evicted by a bank when he purchased the house out of foreclosure. After paying $4.1 million for the home, 50 Cent added an infinity pool, a private movie theatre, and a helicopter pad, among other renovations, for $6 million.

50’s attorneys told us during his bankruptcy proceedings that the average monthly maintenance and financing cost of the residence is approximately $72,000. Just his utility bills came to $18,000.

In an unsuccessful attempt to sell the house for $18.5 million in 2007, 50 tried again in 2007. Since then, he’s been trying—still unsuccessfully—to sell the house. He ultimately sold the house in April 2019 for $2.9 million, representing an 84% reduction from his initial offer price and a $1.2 million loss compared to the purchase price alone.

Related Posts

One thought on “50 Cent Net Worth In 2024

Leave a Reply

Your email address will not be published. Required fields are marked *