Monday, September 01, 2008

From 50 to a billion


Everytime I see 50 cent on the top of the richest black list (behind Oprah and a few others of course) I wanna hate. I get a lil salty because in my humble opinion, he is an asshole. But who am I to say? Most of my annoyance with him has to do with the arson allegations against him. I believe he had something to do with it and what's worse, his son was in the house when it was set ablaze. Besides all that he's rich. Most of the reason has to do with his deal with Vitamin Water/Coca Cola (when Coca Cola bought Glaceau for 4.1 billion), the 100 million dollar deal that is...Then the 150 million more he made this year. But to add insult to injury, he's prahlly gonna get richer and I don't know whether to hate on em' or congratulate him because he is making some major money moves. Check this out, according to a recent Forbes article:
Last May, 50 paid a visit to billionaire mining baron Patrice Motsepe in South Africa. Flanked by select members of their respective entourages, the unlikely duo descended into a subterranean trove of platinum, palladium and iridium, growing like moss on the earth's warm innards. A spectacular backdrop for a bling-drenched music video, to be sure.

But 50 was there for other business: to forge a joint venture with Motsepe that could soon bring him an equity stake in the mine--and 50 Cent-branded platinum to the world.

"Things that people wouldn't actually expect me to be involved in," 50 muses a few weeks later, reminiscing on his trip. "I've got a diverse portfolio."


Here, in the comfort of a midtown Manhattan office, just miles from the Queens, N.Y., streets where 50 once dealt cocaine, the glowering rapper whose lyrics are often punctuated with gunshots is nowhere to be found. In his place is Curtis Jackson, businessman. Less gangster, more Gordon Gekko, he ticks through the contents of his portfolio: stocks, bonds, real estate, investment pools, all carefully monitored by brokers at Goldman Sachs (nyse: GS - news - people ) and Morgan Stanley (nyse: MS - news - people ).

Over the past 12 months, 50 has added $150 million to his substantial coffers. He hawks clothing, sneakers, videogames, movies, ringtones and flavored water. His earnings were nearly twice as much as last year's hip-hop cash king, Shawn "Jay-Z" Carter, and over four times the sum garnered by Sean "Diddy" Combs, who ranked third for the second year in a row. After topping Forbes' inaugural Cash Kings list, the trio released a modified version of 50's "I Get Money" called "The Forbes 1-2-3 Remix."

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