50 Cent, born Curtis James Jackson III, is a multifaceted American rapper, actor, producer, and entrepreneur who has accumulated a net worth of $60 million.
Rising to fame in the early 2000s with his breakout album Get Rich or Die Tryin’, 50 Cent made his mark in both music and business, securing long-term success.
Early Life and Challenges
50 Cent was born on July 6, 1975, in Queens, New York City. Raised by his mother, Sabrina, who was involved in drug dealing, he experienced a tumultuous childhood after her tragic death when he was just eight years old. He was then raised by his grandmother.
During his teenage years, he became involved in selling narcotics, which eventually led to multiple arrests and legal issues. Despite these challenges, 50 Cent earned his GED while serving time in a boot camp and started focusing on his music career.
Career Beginnings and Breakthrough
50 Cent’s rise to fame began after he released the underground rap single How To Rob in 1999, which caught the attention of industry insiders.
However, in 2000, he was shot nine times outside of his grandmother’s home, which nearly killed him.
The incident delayed his musical ambitions but also added to his hardened persona. After recovering, he signed a publishing deal with Columbia Records, but was later dropped after an attempt to release controversial music.
This setback didn’t stop him from working on his mixtapes, and by 2002, 50 Cent released Guess Who’s Back?, which helped him build a massive underground following.
His big break came when Eminem discovered him and introduced him to Dr. Dre. Signing a $1 million record deal with Shady Records, 50 Cent released his debut album Get Rich or Die Tryin’ in 2003.
The album sold nearly a million copies within its first four days and contained the chart-topping single In Da Club. This album catapulted 50 Cent to international stardom.
Continued Music Success and Business Ventures
50 Cent’s success continued with the release of his second album The Massacre in 2005, which also became a major commercial hit.
Over the years, 50 Cent has released multiple successful albums, including Curtis (2007) and Before I Self Destruct (2009), which further cemented his place in hip-hop history.
Throughout his career, he has sold over 30 million albums worldwide.
However, 50 Cent’s entrepreneurial endeavors proved to be equally lucrative. His most notable business move was his investment in Vitamin Water, where he negotiated a minority stake and lent his name to the Formula 50 drink.
When Coca-Cola acquired Glacéau (the maker of Vitamin Water) in 2007 for $4.1 billion, 50 Cent reportedly earned $100-$150 million from the deal, marking a significant financial windfall for him.
Television and Film Career
In addition to his music and business success, 50 Cent expanded into acting and producing. He starred in several films, including Get Rich or Die Tryin’ (2005) and Righteous Kill (2008), alongside Hollywood legends Robert De Niro and Al Pacino.
His most significant television project has been the highly successful STARZ series Power, which he not only starred in but also produced.
The series was a massive hit, and in 2018, 50 Cent signed a lucrative four-year deal with STARZ that could eventually be worth $150 million.
Bankruptcy and Legal Troubles
Despite earning hundreds of millions of dollars from his various ventures, 50 Cent faced financial difficulties that led him to file for Chapter 11 bankruptcy in July 2015.
The bankruptcy filing came after a jury ordered him to pay $5 million for releasing a sex tape of Rick Ross’ ex-girlfriend without her consent.
At the time of the filing, 50 Cent reported assets ranging from $10 million to $50 million, and debts in a similar range. The filing was considered by many to be a strategic move to protect his business interests and renegotiate the judgment.
50 Cent’s bankruptcy was also partially influenced by his previous legal battles, including a trademark infringement lawsuit and other lawsuits related to his business dealings.
Despite the challenges, 50 Cent has remained active in his career, continuing to grow his business empire.
Real Estate and Lifestyle
50 Cent’s real estate holdings have been high-profile, particularly his Connecticut mansion, which he purchased in 2003 for $4.1 million.
The 17-acre estate, previously owned by Mike Tyson, includes a 50,000-square-foot mansion with 37 bathrooms, 21 bedrooms, a gym, casino, and nightclub.
However, after his bankruptcy proceedings, he struggled to sell the property, which was eventually sold in 2019 for $2.9 million, a significant loss compared to its original value.
In addition to his mansion, 50 Cent has owned luxury cars and has been known for his extravagant lifestyle.
However, he has made significant efforts to revamp his finances and focus on his business ventures, such as his stake in Effen Vodka, which reportedly earned him $60 million after selling his stake in 2017.
