50 cent net worth

50 Cent’s net worth

Net Worth: $40 Million
Date of Birth: Jul 6, 1975 (47 years old)
Gender:Male
Height:6 ft (1.83 m)
Profession:Businessperson, Actor, Investor, Film Producer, Rapper, Screenwriter, Entrepreneur, Songwriter
Nationality: United States of America

50 Cent is a rapper, producer, actor, and entrepreneur from the United States. 50 Cent’s net worth is $260 million throughout his career, primarily from selling recordings, touring, and multiple brand partnership deals. Unfortunately, his extravagant spending (particularly on real estate, automobiles, and lawsuits) led him to file for Chapter 11 bankruptcy in July 2015. Before his bankruptcy, 50 Cent’s fortune exceeded $100 million at its peak.

Early Years

Curtis James Jackson III was born on July 6, 1975, in Queens, New York City. Sabrina, a drug dealer, and his mother raised him in the South Jamaica ghetto. Jackson was just eight years old when she died. Grandmother raised 50 Cent after that. After school, he began distributing drugs at 12 years old. In the tenth grade, he was jailed when metal detectors at his high school discovered him attempting to bring in firearms and drug money.

In 1994, he was caught selling cocaine to an undercover police officer, and he was detained a third time after a search of his home discovered heroin, crack cocaine, and a firearm. He attended boot camp for six months and received his GED.

Early Profession and Shooting

Jackson’s controversial underground rap hit “How to Rob” helped him achieve a low-key rise in prominence. In May of 2000, he was wounded and hospitalized while preparing to release the Destiny’s Child single “Thug Love.” A gunman had struck him outside his grandmother’s home in Queens. 50 Cent was wounded in the hand, arm, hip, legs, chest, and left cheek by an assailant (alleged attacker Darryl Baum, who was Mike Tyson’s bodyguard) who fired nine shots.

50 Cent was hospitalized for thirteen days, during which he inked a publishing contract with Columbia Records. However, Columbia dropped him when he attempted to release the song “Ghetto Qu’ran.” In addition to being blocked by the United States recording industry, he traveled to Canada to record songs for mixtapes to increase his profile. He released the mixtape “Guess Who’s Back?” in 2002.

Rise to fame

In 2002, Eminem found out about Jackson. Eminem liked “Guess Who’s Back?” so much that he asked Jackson to come to Los Angeles to meet Dr. Dre. 50 Cent signed a record deal worth $1 million and wrote “No Mercy, No Fear.” On the soundtrack of Eminem’s movie “8 Mile,” there was a song by 50 Cent. “Get Rich or Die Trying,” 50 Cent’s first album, became a massive hit in 2003. It went straight to No. 1 on the Billboard charts, and in its first four days, it sold almost a million copies.

“In Da Club,” the lead single, became the most-listened-to song in radio history in just one week. Soon after that, Inters cope gave 50 his record label, G-Unit Records. In March 2005, Jackson came out with his next album, “The Massacre.” It was another huge hit that sold 1.14 million copies in the first four days and stayed at the top of the Billboard charts for six weeks. 50 Cent’s net worth of $260 million throughout his career comes from the sale of recordings, extensive touring, and numerous brand partnership arrangements.

In 2007, his third album, Curtis, came out. Its first week on the Billboard 200 chart put it at number two. The fourth album, “Before I Self Destroy,” came out in November 2009. His fifth album, “Street King Immortal,” didn’t come out until November 2012 because he and his record label couldn’t agree on something. His studio albums have sold more than 21 million copies so far.

Other things

In the short time, he has been famous, 50 Cent started the record label G-Unit and the clothing company G-Unit, and even acted in a few movies with legends like Al Pacino and Robert Deniro. In 2012, he started a company called The Money Team to promote boxing.

Bankruptcy Filing

The Wall Street Journal said on July 13, 2015, that 50 Cent had filed for Chapter 11 bankruptcy protection. Because 50 live in Connecticut, he filed a case in the US bankruptcy court in Hartford.

50 lived in Mike Tyson’s old mansion at 50 Poplar Hill Dr, Farmington, CT 06032. In the paperwork, 50 Cent said his assets were worth between $10 million and $50 million. He said that his debts were the same amount.

A few days after, a jury told 50 to pay Rick Ross’s ex-girlfriend Lavonia Leviston $5 million for putting her on a sex tape that he released on purpose. The judge gave her $2.5 million for using her picture without permission and another $2.5 million for causing her emotional pain. In that case, the judge also told Mr. Jackson that he had to show proof of his income and wealth so that the jury could decide on more punitive damages.

About a year earlier, a different judge ordered 50 to pay $17.5 million in damages for trademark infringement in a case involving an ex-partner in a headphone company. Even without punitive damages in the sex tape case, he faced $22.5 million in possible legal judgments.

At least in part, filing for bankruptcy was a smart move for the three reasons below:

1) To stop the judgment creditor, Lavonia Leviston, from stopping his business and putting liens on his property.

2) To get the creditor to come to the table to talk about lowering the $5 million judgment.

3) To stop the jury from giving Ms. Leviston more punitive damages in the sex tape case.

He would go on to say:

And after that, his lawyer said:

“The filing allows Mr. Jackson to keep running his businesses and work as a performer while he tries to get his finances in order.”

Income by Year

  • 2007: $32 million
  • 2008: $150 million
  • 2009: $20 million
  • 2010: $8 million
  • 2011: $6 million
  • 2012: $7 million
  • 2013: $7 million
  • 2014: $8 million
  • 2015: $4 million
  • 2016: $6 million
  • 2017: $5 million
  • 2018: $4 million
  • 2019: $4 million

Total: $261 million

Personal Life

50 Cent has a son with Shaniqua Tompkins, who was his girlfriend. In October 1996, Marquise Jackson was born. In the end, Tompkins sued Jackson for $50 million, but the case was thrown out. There have been a lot of fights between the two on social media.

In 2005, rapper Kanye West said President George W. Bush wasn’t doing enough to help with the Hurricane Katrina disaster. 50 agreed with Kanye West and said that President Bush should do more. In 2008, Jackson voted for Barack Obama, and in 2016, he voted for Hillary Clinton. Even though many of his songs have lyrics, Jackson doesn’t drink or do drugs.

In May 2016, after walking through Cincinnati International Airport, Jackson bothered and insulted a janitor there by saying that the janitor was drunk. It turned out that the janitor was a teenager with autism and hearing loss. The teenager’s parents wanted to sue 50 Cent because the video went viral. They agreed to let it go after 50 Cent gave $100,000 to Autism Speaks and said sorry.

Connecticut Mansion

50 Cent bought a 17-acre property in Connecticut in 2003. It has a 50,000-square-foot house with 37 bathrooms, 21 bedrooms, a gym, a casino, and a nightclub. He bought the house from the bank, which had just kicked out Mike Tyson, the previous owner. 50 Cent purchased the home for $4.1 million and then spent another $6 million making improvements, such as adding a private movie theater, an infinity pool, and a place for a helicopter to land.

During his bankruptcy case, lawyers from the 1950s told us it costs about $72,000 monthly to maintain and pay for the house. His utilities alone cost $18,000.

Summary

50 tried to sell the house for $18.5 million in 2007, but that didn’t work. Since then, he has tried to sell the house but hasn’t been able to. In September 2018, he dropped the price to $4.995 million, but no one bought it. In April 2019, he finally sold the house for $2.9 million, which was 84 percent less than what he offered initially and $1.2 million less than what he paid. 50 Cent’s net worth is $260 million via albums, tours, and commercial partnerships.50 Cent’s net worth.

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