50 Cent Net Worth: Before and After Bankruptcy

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Jeevitha is a to-be Chartered Accountant by chance and a writer by choice. She has been passionate about reading books and writing, since forever.

50 Cent, the famous American Rapper, actor and business person is worth a $20 million as of 2018. In 2015, Forbes reported his net worth to be around $150 million. With the rapper making his money through various ventures including music albums, concert tours, endorsements, different lines of business, how did his net worth fall tremendously?

Early Life

Curtis James Jackson III was born in South Jamaica, Queens, New York. When he was 11 years old, Jackson began boxing. 50 cent has been subject to numerous controversies. He has been arrested on various occasions for his involvement in cocaine and possession of a gun.  In 2013, he pleaded not guilty to vandalism & domestic violence.

Career

The Rap Begins Here

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Jackson began rapping in his friend’s basement and eventually made his career in rapping. In 2002, he released his album Guess Who’s Back? , after which he got a contract by Shady Records, Aftermath Entertainment and Interscope Records. He rose to prominence after the release of his album Get Rich or Die Trying. He has sold over 30 million albums worldwide and has won several awards including Grammy Award, 13 Billboard Music Awards, and four BET Awards.

Films and TV shows

The rapper earned in millions by appearing in numerous movies and TV shows. 50 cent made his film debut in 2005 in the movie Get Rich or Die Tryin’. He later appeared in over 25 movies including Streets of Blood, 13, Gun, Twelve, Set up, Vengeance and Spy. He also made special appearances in a variety of TV shows including The Howard Show, Jimmy Kimmel Live, Last Call with Carson Daly, Entourage, Canon and 50 Central.

He also voiced video games like 50 Cent: Bulletproof, 50 Cent: Blood on the sand and Call of duty: Modern Warfare 2.

Business

Jackson is not only a flourishing rapper but also a successful businessman. In 2003, he established his record label G-Unit Records. Later that year, he also entered into a five year deal with Reebok to distribute a G-Unit sneaker for his G-unit Clothing Company.

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In 2007, Jackson started a book publishing imprint, G-unit Books.

He entered into a partnership deal with Glaceau to create Formula 50, a flavoured drink. Five years later when Coco-cola purchased the company, 50 Cent, being the minority received $100 million.

He later introduced a body spray called Pure 50 RGX after joining Right Guard.

Jackson has also founded two film production companies: G-Unit Films and Cheetah Vision.

In 2011, Jackson founded SMS Audio, a consumer electronics company.

Author

Jackson has also authored a few books including his memoir, From Pieces to Weight.

Bankruptcy

In 2015, Jackson filed for bankruptcy with a debt of around $32 million.

50 Cent Net Worth Now

50 cent’s net worth stands at $ 20 million, which is a massive slump when compared to his net worth of $150 million before filing for bankruptcy. Thanks to the bitcoin, the rapper is still a millionaire. In 2014, 50 Cent became the first rapper to accept bitcoin as payment for his album Animal Ambition when its worth was around $662 a coin. Today, the bitcoin trades at $11,300, which means his 700-bitcoin stash is worth around $8 million!

In order to pay his debts, Jackson had to sell his mansion in Farmington, Connecticut. The luxurious 21 bedroom home was sold for $10 million against its listed price $18.5 million.

His home in New York, which was purchased by him for $2.4 million in 2007, caught fire the very next year.

He owns a fleet of luxurious cars including Rolls Royce Phantom, Ferrari F50 and Lamborghini Murcielago.

Endorsements

50 cent was involved in increasing HIV awareness and endorsed Magic Stick Condoms.

He recently made an endorsement deal with Frigo Revolution Wear, a men’s underwear brand for $78 million.

He has made endorsement deals with Effen Vodka, Reebok, Pontiac, Frigo, Gunnar, Hostelworld and KidzSafe Audio.

Philanthropy

Jackson is on the BOD of the G-Unity Foundation, which provides grants to non-profit organisations.

In 2016, Jackson insulted a hearing-impaired autistic janitor at the airport accusing him of being under the influence. A lawsuit was filed against him by the janitor’s parents after which Jackson offered his apologies and donated $100,000 to Autism Speaks.

In 2016, Jackson joined Pure Growth Partners to introduce Street King with a vision to provide food for one billion starving people in Africa. A portion of the proceeds from each Street King purchase would be used to provide a meal for an underprivileged child.

He has teamed up with Feeding America to bring meals to children in the US. For every pair of SMS Audio headphone sold, Jackson donates 250 meals.

He also supports various charities including Lifeboat, New York Restoration Project, Orca Network and Shines Hospitals for Children.

Conclusion

50 cent is definitely not the one who sits back and relaxes with the earnings from the music albums and endorsement deals. He has innovatively invested in various business ventures and has always thrived to move forward. Whether bankrupt or not, with the energy and passion that Jackson has, we can be sure that he’ll rise again no matter what the circumstance is.

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Feature Image Credit: Snapshot from YouTube Video by Team Coco

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