Get Rich or Go Bust Tryin’ – 50 Cent Files for Bankruptcy
One of the biggest and richest names in the history of hip-hop shocked the world not so long ago – 50 Cent (aka Curtis Jackson) filed for bankruptcy!
Now, it’s not that unusual for a major celebrity to go bankrupt and lose all the millions. But, 50 Cent was (and probably should still be) considered as one of the richest men in the music world. Curtis has always possessed entrepreneurial spirit. Even when he was just another drug dealer on the streets of New York City, 50 Cent managed to find clever ways to make more money and escape the dangerous world he grew up in. He saw music as a means to get rich and he was ready to die trying to achieve this goal. He overcame a major obstacle (when he was shot several times by his rivals) and turned it into an advantage which pushed him into the big league. He was the one to put “gangsta” back into rap music.
But, Curtis was never satisfied with the current level of his finances. Not long after making his first millions, he created his own marketing and PR team and started building an empire.
After conquering the music world with the help of his mentor Eminem, 50 Cent became a businessman and investor. He first went into joint ventures with several of the richest companies in the world, and to the surprise of the CEO’s of those companies, he didn’t insist on money, instead he wanted to be as involved in the business and marketing processes as possible. It was a sure way for Curtis to gather enough knowledge and experience he needed to start his own franchises.
He invested into real estate, created his own clothing line, alcoholic drink, headphones, etc. Some of his investments didn’t pay off, but most did. After all, Forbes magazine estimated 50’s wealth to be around 155 million USD earlier this year.
So, how is it possible for someone like that to file for bankruptcy? Well, as you might have imagined, Curtis isn’t really broke.
He was just smart enough (and rich enough) not to let some shady people get his money through lawsuits. In other words, 50 Cent filed for a certain chapter of bankruptcy which would allow him to “continue his involvement with various business interests and to continue his work as an entertainer” while his team reorganizes his finances. Curtis himself told his fans and business partners that they don’t have to worry about the process.
When explained, the news about 50’s bankruptcy aren’t so scandalous or even unorthodox in today’s business world.
One thing is certain, Curtis will surely do whatever it takes to bounce back, stronger and richer than ever before. Like he did so many times before.