It’s been a whirlwind for the Candy Shop singer since he filed for bankruptcy in 2015 with debts of $32.5 million. While accepting Bitcoin payments from friends and family, the rapper-turned-businessman told 50 Cent he was willing to take money, whether it was in coins or dollars.
The value of bitcoin, which peaked at just under $20,000 late last year, has reportedly brought the rapper a windfall in the millions.
His Popularity and Great Fortune
Verdict reported that the popular rapper has been on the list every year since its first release in 2007. Forbes has released its annual list of the world’s 50 most influential people, and the new number one has had more than its fair share of ups and down.
Today, 50 Cent has an estimated fortune of $155 million and has been one of the world’s five richest rappers, according to Forbes.
Rounding out the list is Diddy, who has a fortune of more than $735 million, followed by Kanye West with $1.2 billion and Kate’s wife Beyonce with $150 million. He is also America’s second richest rapper, with an estimated worth of $156 million as per Kulture Hub.
His Unexpected History
Just 23 years ago, 12-year-old Curtis Jackson was selling drugs and was arrested at school.
By the time he was 25, he had been shot nine times, almost lost his life and forgotten about.
After his career began to turn sour and he made some bad business decisions, he ended up with $32.5 million in debt and filed for bankruptcy. Power revived his bank account, and now the rapper is worth millions again – $30 million, to be precise.
So how did he beat the odds to become one of the most successful rappers of all time, if not the richest?
Instead of simply raising money again, 50 Cent has never shied away from lending to people even in the midst of a recession.
After amassing a fortune of nearly $25 million, Curtis “50 Cent” Jackson went bankrupt and was forced to file for bankruptcy. Soon after, 50 began investing in money – doing deals estimated to have raised $60-100 million before the company was sold to Coca-Cola in 2007 according to Cheat Sheet.
Forget that Emmett did not repay the loan, he continued to break even, and in 2009, after amassing a fortune of over $1.5 billion and an income of over $20 million.
How 50 Cent Rose to Fame
Spotted by hip-hop star Eminem, 50 Cent rose to fame after signing a $1 million record deal with rapper-turned-producer Dr. Dre. Within five years, he had made more money than any other rapper in the history of rap music.
It’s safe to say that 50 Cent is one of the most accomplished rappers of all time. What makes this whole development particularly unusual is that 50 Cent has long been considered one of the music industry’s smartest moguls.
Just last week the New York Times published a profile highlighting his financial and business prowess. He landed a major coup when Vitamin Water, a company in which he invested early, was sold to Coca-Cola for $100 million in 2007.