That means he not only effectively satisfied his approved five-year plan, he did it four whole years ahead of schedule. I'm taking precautions that any good businessperson would take in this situation. The remaining millions came from cash derived from "a recent settlement of a legal malpractice lawsuit against other attorneys." Jackson released his next album in March 2005, The Massacre. 50 Cent gained massive popularity in 2003 with his debut album Get Rich or Die Trying. That's because 50 Cent sued his legal team on the Sleek Audio case, claiming the law firm Garvey Schubert Barer was responsible for "numerous failures" while defending him (per Forbes). In tenth grade, he was arrested when he was caught by metal detectors at his high school attempting to bring i… It's possible the number came from 50, which would be really interesting to know and may mean it's real, but it also might be an exaggeration. According to The New York Times, creditors were perplexed by Fiddy's Instagram account. On July 13, 2015, the Wall Street Journal reported that 50 Cent had filed for Chapter 11 personal bankruptcy protection. But, he was always involved in controversies. Each bottle reportedly includes a "14 karat gold-plated emblem," and customers can choose between brut ($199), rosé ($325), or blanc de blancs ($999). The Coca Cola Company acquired Vitamin Water from Glaceau for $4.1 billion and made 50 Cent roughly ten times more money than he had ever made rapping. that he invited Jackson to Los Angeles to meet Dr. Dre. The line would be called, lazily enough, "Sleek By 50 Cent." $ 705 last 7 days Estimated earnings. His utilities alone cost $18,000. In just one week, the lead single, In Da Club, set a record for the most-listened-to song in radio history. In May 2000, he was geared up to release Thug Love, a single with Destiny's Child, when he was shot and hospitalized. 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. 50 Cent paid $4.1 million for the property then spent an additional $6 million on various upgrades including adding a private movie theater, infinity pool AND a helicopter pad. It seems that when you have as many income streams as 50 Cent, you can afford to lose a fortune or two. Meanwhile, The Washington Post — the same newspaper that valued Fiddy's net worth at nearly half a billion dollars in 2010 — airily inquired, "Is 50 Cent really broke? At age 12, he began dealing narcotics after school. The results are fact checked and confirmed by a team of editors and industry insiders. Before I Self Destruct, album number four, was released in November 2009. 50 Cent Settles Bankruptcy Nightmare With Extremely Expensive Payment Plan. His 2003 debut, Get Rich or Die Tryin', sold 872,000 copies its first week and 6 million copies by the year's end. Edward Bernard Peter Buck is a businessman, Democratic political fundraiser, and LGBTQ political activist. He was raised in the South Jamaica neighborhood by his mother, Sabrina, who was a drug dealer. If that's actually true, he may have simply morphed into another extremely wealthy millionaire. According to The Washington Post, he was likely "rich-people broke." 50 supported President George W. Bush in 2005 after fellow rapper Kanye West criticized the president for a slow response to the Hurricane Katrina disaster. Meanwhile, he was facing about "$33 million in liabilities," most of which stemmed from his lawsuits with Sleek Audio ($18 million) and Lastonia Leviston ($7 million). According to TMZ, he'd made a deal that would find him paying "$23 million to his creditors" over the course of five years. On Feb. 18, 2016, 50 Cent was ordered back to court. But how could anyone pay such a gasp-worthy amount in a timely manner? In 2010, Young Buck filed for bankruptcy shortly after IRS raided his home. 50 Cent Reportedly Just Sold His Stake In Effen Vodka For $60 Million, 50 Cent Hit With $2 Million In Punitive Sex Tape Damages, Businessperson, Actor, Investor, Film Producer, Rapper, Screenwriter, Entrepreneur, Songwriter. Disagreements with his record label delayed his fifth album, Street King Immortal, until November 2012. There was big news for Fiddy fans and audiophiles alike in January 2011, when word got out that 50 Cent would endorse a "line of Wireless Hybrid products" designed in partnership with electronics company Sleek Audio. That's not to mention his EFFEN vodka partnership, Power (the Starz melodrama he stars in and executive-produces), his luxury men's underwear collection, the Bulletproof video game, his POWER for Men scent, and the "G-Unit" brand — those are just some of the many business moves he's made over the years. She died when Jackson was just eight years old. Oh... easily. Despite a penchant for Burberry shirts, Dior Homme shoes, and Audemars Piguet watches, 50 Cent had plenty of cash to burn in 2015. So, did that mean he was officially out of the woods? When he was a kid, Young Buck had a dream of being better than his friend at rapping, and he did achieve his goal by being one of the successful rappers. In tenth grade, he was arrested when he was caught by metal detectors at his high school attempting to bring in guns and drug money. During his bankruptcy proceedings we learned from 50's lawyers that the house typically costs around $72,000 per month to maintain and finance. HHL 29,402 views. As of this writing 50 Cent's net worth is $30 million. I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that. He had been attacked by a gunman outside of his grandmother's home in Queens. Submit a correction suggestion and help us fix it! A subsequent Mirror article reported that 50 Cent was ordered to pay Leviston an additional "$2 million in punitive damages" later that month. Eminem's movie 8 Mile featured a 50 Cent song on the soundtrack. In May 2016, after walking through Cincinnati International Airport, Jackson harassed a janitor at the airport and insulted him when he accused the janitor of being under the influence. We got ours for a Buck Fiddy. In 2002, he released the mixtape Guess Who's Back?. 0:22. 50 Cent was then raised by his grandmother.✔ Follow Audio Saviours on Spotify: Spotify Session - Developing artists \u0026 Breaking songs that you need to be paying attention to: a like if you enjoyed listening to this song! The Verge proclaimed the "Straight to the Bank" rapper had "self destructed," openly wondering, "How did the world's biggest rapper become a punchline?" This number was widely dismissed by investment bankers familiar with the deal who intimated that 50's stake was closer to 2.5% which means he made $100-$150 million off the sale (before taxes). 1 on the Billboard charts and sold almost a million copies in its first four days. The ensuing lawsuit was a bloodbath, and a serious money drain for 50 Cent. One slight problem: Midway through the project, 50 Cent abruptly decided to go with another company to produce "SYNC by 50" headphones, according to Vibe. It was another wild success, selling 1.14 million copies in its first four days and holding the number one spot on the Billboard charts for six solid weeks. 0:44. Also, in August 2018, Fiddy launched his Champagne brand Le Chemin du Roi, an adult beverage he warns is "for winners only." "50 Cent Is Bankrupt No More," announced Complex in February 2017. And don't forget: 50 Cent can reportedly still afford 200 tickets to a Ja Rule concert, if only to deliberately leave those seats empty in order to sabotage his foe (via Entertainment Tonight). He served six months in a boot camp and earned his GED. So where does this leave 50 Cent's fortune? As bankruptcy attorney Leon Bayer put it, "It tells them they aren't going to get a check anytime soon, so why not sit back down at the negotiating table." However, 50 Cent didn't immediately dash across the street to the nearest ATM. 2 on the Billboard 200. 50 Cent's most brilliant financial investment came when he negotiated a minority stake in Vitamin Water in return for being their celebrity spokesman and lending his name for the "Formula 50" drink. ", "The filing permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.". A lawsuit was more or less inevitable, and it subsequently cost 50 Cent a significant chunk of change — $17.2 million, to be exact. Despite having to part with a hefty chunk of charge, Fiddy was reportedly "all smiles" the day his bankruptcy case ended on July 6, 2016. SUBSCRIBE for more content! According to NPR, the filing "blocked" Sleek Audio and Lastonia Leviston from receiving their cash. She died when Jackson was just eight years old. We're building a car for the Express Rally Beater Bash in April 2017. The judge in that case also ordered Mr. Jackson to produce proof of income and worth so the jury could determine further punitive damages.