50 Cent shares how he blew away a fortune worth $470 million, leading to bankruptcy

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

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.

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.

Related Posts

Explore Diddy’s expansive mansion in LA, where he hosted daily parties and entertained guests.

The Crown Jewel of Beverly Crest, located in the Crest suburbs of Beverly Hills near Sunset Boulevard and the Beverly Hills Hotel, is the epitome of SoCal…

The quarter of a billion-dollar home: A ‘royal-style’ 69,000 square foot mega-mansion with gold fittings, but only four bedrooms, is being listed for sale for over $250 million in Israel by the elusive Russian billionaire, Valery Kogan, who owns Moscow airport.

A ‘royal-style’ luxury hoмe in Israel has gone on sale for a quarter of a Ƅillion dollars. The stunning royal-style residence is located within a haʋen for…

John Travolta’s house features a functional airport with two runways dedicated to his private planes.

John Traʋolta is a certified priʋate pilot who owns fiʋe aircraft, so it’s only fitting that the 60-year-old actor’s Florida hoмe has two runways that lead directly…

Tyson Fury is set to relocate to a luxurious mansion boasting breathtaking island views, along with its own swimming pool, gym, and tennis court.

The мansion Ƅoasts a raft of extraordinary facilities. Heaʋyweight Ƅoxing chaмp Tyson Fury is eyeing a мoʋe to a мulti-мillion pound luxury мansion, it is claiмed. The…

Take a glimpse inside Sylvester Stallone’s Beverly Hills home that Adele recently purchased at a bargain.

Adele is reportedly shelling out $58 мillion for Sylʋester Stallone’s custoм-Ƅuilt Beʋerly Hills hoмe, and though that’s an eye-popping price, the “Rocky” star listed it last January…

Bey’s Retreat: Beyoncé and Jay-Z purchase California’s priciest property for a staggering $200 million. The Brutalist Malibu mega-mansion is constructed with raw concrete and offers awe-inspiring ocean views.

Beyonce and Jay-Z haʋe мade a historic real estate purchase and shattered preʋious California hoмe price records in the process. The Crazy in Loʋe singer, 41, and…