In addition to being a rapper, 50 Cent is an actor, producer, and entrepreneur. 50 Cent has a net worth of $40 million as of this writing. 50 Cent has made about $260 million thus far in his career via a variety of sources, including selling songs, touring, and a number of business partnerships.
As a result of his excessive spending (particularly on real estate, automobiles, and lawsuits), he was forced to file for Chapter 11 bankruptcy in July 2015. To learn more about that particular file, read on. 50 Cent had worth in excess of $100 million at the time of his bankruptcy.
|Net Worth:||$40 Million|
|Date of Birth:||Jul 6, 1975 (46 years old)|
|Height:||6 ft (1.83 m)|
|Profession:||Businessperson, Actor, Investor, Film Producer, Rapper, Screenwriter, Entrepreneur, Songwriter|
|Nationality:||United States of America|
He is better known as “50 Cent.” Originally from Queens, New York, Jackson was born on July 6, 1975, in the city. he was raised by his drug-dealing mother Sabrina, who reared him alone. He moved in with his grandparents after his mother’s death.
When Jackson began selling narcotics at the age of 12, he was a minor. While his grandma thought he was engaged in after-school activities, he would spend his time on the streets hawking cocaine.
The first time 50 was arrested was when he brought drugs, drug money, and a pistol into school, which resulted in his arrest. He was discovered by the school’s metal detectors.
Once for selling cocaine to an undercover cop, and the second time he had illicit narcotics and a pistol in his house, Jackson was arrested for a second time.
Early Career and Shooting
When he published a controversial underground rap song, “How To Rob,” Jackson attracted a small following. The song “Thug Love,” a Destiny’s Child collaboration, was due to be released in May 2000 when he was shot and hospitalized.
His grandmother’s house in Queens, New York, had been targeted by a shooter. 50 Cent was shot in the hand, arm, hip, both legs, chest, and left face by an assailant (reported attacker Darryl Baum, who was Mike Tyson’s bodyguard). Three weeks later, the assailant was shot and killed.
50 Cent secured a publishing contract with Columbia Records while he was in the hospital for 13 days. In spite of this, he was kicked off of Columbia Records when he attempted to release “Ghetto Qu’ran.” For this reason, he flew to Canada to record mixtape tracks, where he was able to re-establish himself. ‘Guess Who’s Back?’ was his 2002 mixtape release.
Rise to Fame
In 2002, Eminem found Jackson. So pleased was Eminem that he invited Jackson to Los Angeles to see Dr. Dre after hearing “Guess Who’s Back?” “No Mercy, No Fear” was 50 Cent’s first release after he secured a $1 million record contract.
One of 50 Cent’s songs was used on the soundtrack to Eminem’s film “8 Mile”. When “Get Rich or Die Trying” was released in 2003, 50 Cent became one of the most successful hip-hop artists in the world. Almost a million copies were sold in the first four days after its Billboard chart-topping debut.
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‘In Da Club’ established a record for the most-listened-to song in radio history inside a single week. It wasn’t long until Interscope signed 50 to G-Unit Records. “The Massacre” was Jackson’s follow-up album, released in March 2005. In its first four days of release, it sold 1.14 million copies and held the top spot on the Billboard charts for a whole six weeks.
In 2007, he released “Curtis,” his third studio album, which debuted at No. 2 on Billboard’s 200 charts. A new album titled Before I Die was released in November of that year.
The release of his fifth album, “Street King Immortal,” was postponed until November 2012 due to disagreements with his record label. A total of over 21 million copies of his studio albums have been sold worldwide since their release.
50 Cent has accomplished a lot in his brief time in the spotlight, including founding the record label G-Unit Records, launching the G-Unit apparel line, and even acting in films with giants like Al Pacino and Robert Deniro. In 2012, he founded The Money Team, a boxing marketing organization.
How Does 50 Cent Spend His Money?
50 Cent is currently one of the most well-known artists in the world of music. Due to his financial difficulties, though, he has recently been making headlines
G-Unit branded entertainment partnerships in music, film, and television generate about $184,969 per month, which he has identified as his primary source of revenue on his website. One of 50 Cent’s primary residences was once owned by boxer Mike Tyson.
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A racquetball court, a home theatre, and an eight-car garage round out the property’s amenities. Valued at $8.25 million, the property Additionally, he has residences in Atlanta, Long Island, and New Jersey, which the rapper rents out.
He spends a total of $70,000 a month only on the upkeep of his three primary residences. The Formula 50 water drink was one of Jackson’s earliest commercial efforts, in cooperation with Glacéau.
It wasn’t long before Jackson became a beverage investor in October 2004, when he was awarded an equity stake in the firm in exchange for becoming the brand’s public face.
G-Unit Films and Cheetah Vision were formed by Jackson in 2003 and 2008, respectively. Cheetah Vision is a low-budget production company that specializes in films for international distribution.
Cheetah Vision received $200 million in finance in 2010 when G-Unit Films went bankrupt.
50 Cent and his ex-girlfriend Shaniqua Tompkins have a son together. It was on the 30th of October of that year that Marquis Jackson was born. Despite this, Tompkins sued Jackson for $50 million, but the case was dismissed. In the past, the two had fought over social media several times.
When fellow rapper Kanye West blasted Bush over his administration’s reaction to Hurricane Katrina, 50 percent of the electorate rallied behind him in favor of Bush’s presidency. Following the 2008 election, Jackson endorsed Barack Obama and Hillary Clinton for president. While many of Jackson’s songs contain lyrics about drug and alcohol abuse, he does not engage in these activities.
Jackson attacked and insulted an airport cleaner in May 2016 after passing through Cincinnati International Airport while under the influence. He turned out to be an autistic and hearing-impaired teen janitor, as it turned out. As a result of the video’s success, the adolescent’s parents decided to file a lawsuit against 50 Cent. They were content with an apology from 50 Cent and a gift to Autism Speaks of $100,000.
As part of his 2003 Connecticut property acquisition, 50 Cent purchased a 17-acre property in the state that has a 50,000 square foot mansion with 37 baths, a gym, and a nightclub.
When he acquired the house, the bank that owned it had just evicted Mike Tyson, the previous owner, and it was in foreclosure. Adding a private movie theatre, an infinity pool, and a helicopter pad cost 50 Cent an extra $6 million after he purchased the home for $4.1 million.
We heard from 50’s bankruptcy attorneys that the mansion normally costs roughly $72,000 a month to maintain and fund during the bankruptcy procedures. His monthly utility bill was $18,000.
An $18.5 million sale effort was made in 2007 but failed. Since then, he’s been attempting to sell it, but to no avail. In September 2018, he decreased the price to $4.995 million, again without any takers. He still owns the property as of the time of this writing.
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