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6 comments

Monday, December 1, 2008 | 11:17am

50 Cent Treads Lightly: Could Bad Economy Spell The Rapper’s Demise?

Posted by Juan

Rappers Investment portfolio in peril and his multimillion-dollar mansion still won’t sell

50 Cent

In the past few month’s as we’ve seen the adverse effects of the recession and sinking economy put many people out of work, shut down fortune 500 companies and put the word “bailout” in our everyday vernacular we’ve discovered that even the most successful hip hop moguls aren’t immune.  Much like Lehman brothers, the once revered Dame Dash has been reduced to a punchline as his businesses have failed and he’s made headlines daily as he continues to sell off his assets.  But who would have thought that the mighty 50 Cent would be worried about his financial assets?

“I lost a couple million dollars already,” the rapper told the Canadian Press. “I sit with my investors and business managers and accountants looking at the numbers and I’m like, ‘Yo, the values of stocks in different areas that I invested in are decreasing!’ So I take the loss like everybody else.”

The once recklessly aggressive investor has now become extremely more tactical with his financial maneuvers.  In fact, the release of his upcoming CD, “Before I Self Destruct,” is an effort to raise funds for his struggling portfolio.  In years past fif would have dropped the project fresh off the press and let the marketing take care of itself but given the dicey economy he chose to push back the album which was to  hit stores in time for Christmas citing a need to get more airplay for singles and build up as much buzz as possible thus ensuring better sales..

“Pushing it back was to position myself a little better. I want to make sure (buyers) hear some things before I actually get my CD physically on sale,” he said.

The more tactical and mature rapper has also been affected by the struggling real estate market which some pinpoint as being the catalyst for this crisis.  He is still trying to unload his $18.5 million mansion that has been on the market for over a year now. The home he copped from Mike Tyson, who likewise was forced to sell the property due to financial constraints has been featured on MTV cribs in attempt to solicit buyers.  Every day, 50 says he’s reminded of the former boxer’s unfortunate fall from grace and is conscious not to let it happen to him.

“I’m waking up in a room that was previously Mike Tyson’s bedroom, a fighter who earned over $500 million in his actual career, and when I purchased his house from him he was in bankruptcy,” said 50. “If that’s not a strong enough reminder for you, I don’t know what’s going to remind you to be aware of where you are financially and make conscious decisions.”

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6 Responses to 50 Cent Treads Lightly: Could Bad Economy Spell The Rapper’s Demise?

  1. 4PL says:

    Fifty is 2 smart to go broke I think he’s proven that. The fact that he’s even discussing this publicly lets you know as always he’s ahead of the curve. I aint crying for 50 he’ll be iight!

  2. Juan says:

    I think he’s being wise but I think he’s gotta be genuinely concerned. His house not selling is not a marketing tactic…it’s real.

  3. Pingback: Awe sh*t my stacks are in trouble! « Media Outrage

  4. Pingback: » 50 Cent Still Talking Mess And Making Excuses | Highbrid Nation | Because Knowledge is Power

  5. tough life, he’ll be good

  6. Pingback: » Fantasia Hit By Economy Bug: Idol’s NC Home in Foreclosure | Highbrid Nation | Because Knowledge is Power

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