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50 Cent explains how he blew $470 million and ended up bankrupt

Joe Harker

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50 Cent explains how he blew $470 million and ended up bankrupt

Featured Image Credit: dpa picture alliance / The Photo Access / Alamy Stock Photo

When it comes to fortune, few have risen so high and fallen quite so far as rapper 50 Cent.

The rapper, also known as Curtis James Jackson III, enjoyed huge success when he burst onto the music scene, so much so that after his first album 'Get Rich or Die Tryin' he was able to buy a mansion once owned by Mike Tyson.

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He followed up that early success by going on to sell over 30 million albums over a glittering career and making a number of business moves.

Some of them paid off incredibly well, like the stake he bought in VitaminWater in 2004 earning him somewhere in the region of $100 million after Coca-Cola decided they wanted to buy the brand for $4.1 billion.

Other moves didn't work out quite so well, especially since he made a few investments around the time of the global recession in 2008 which ended up costing him several million dollars.

50 Cent might have blown plenty of money but he's doing alright financially. Credit: Sam Kovak / Alamy Stock Photo
50 Cent might have blown plenty of money but he's doing alright financially. Credit: Sam Kovak / Alamy Stock Photo
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His financial woes came to a head in 2015 when he filed for bankruptcy, though it wasn't long before he bounced back from that particular nadir.

In this case, going bankrupt doesn't mean he went totally broke, even if his financial status did diminish somewhat from a previously incredibly high point.

TikToker Frank Michael Smith laid out some of the woes behind the rapper's financial struggles, explaining that many of the most visible aspects of his lavish lifestyle were rented rather than owned outright.

They said 50 Cent had a net worth of around $500 million back in 2010 back when things were going well for him, but these days is worth closer to $30 million.

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Some of the biggest matters he had to deal with were legal issues, having forked over at least $23 million in legal fees during the past 20 years, including for a legal battle over leaking an adult film with Rick Ross's girlfriend in it.

50 Cent blew plenty of money on legal fees, a lavish lifestyle and some investments which didn't quite pan out but he became debt free in 2017. Credit: Reynaldo Chaib Paganelli / Alamy Stock Photo
50 Cent blew plenty of money on legal fees, a lavish lifestyle and some investments which didn't quite pan out but he became debt free in 2017. Credit: Reynaldo Chaib Paganelli / Alamy Stock Photo

There was also the loss of his five year legal battle against enemy Rick Ross, which say he'll have to pay out more money.

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He may have gone bankrupt at one point , but speaking to The Guardian the rapper explained that normal people didn't understand bankruptcy and it let him start over fresh.

He said: "Business people will do that in a heartbeat before losing money. Because it means they have the ability to be secure and invest again."

Shortly after declaring bankruptcy he was offered the chance to act in and executive produce TV show Power, signing a $150 million deal.

If that's not landing on your feet, I don't know what is.

Topics: Celebrity, 50 Cent, Music

Joe Harker
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