1. Entertainment
Send to a Friend via Email
Henry Adaso

50 Cent: "I Lost Millions in Stock Market Crash"

By December 2, 2008

Follow me on:

Believe it or not, even the richest rappers are feeling the sting of America's ongoing economic recession. As the stock markets and real estate values took a downward spiral, hip-hop mogul 50 Cent is also feeling the backlash of the dip.

"I lost a couple million dollars already, 50 revealed to the Canadian Press. "I sit with my investors and business managers and accountants looking at the numbers and Im like, 'Yo, the values of stocks in different areas that I invested in are decreasing! So I take the loss like everybody else."

50 earned an estimated $150 million last year to top Forbes' 2008 Richest Rappers list, thanks in part to a lucrative deal with Vitamin Water and a five-year contract with Reebok, distributor of his G-Unit sneaker line.

Fif has also found it a challenge to sell his 19-bedroom, 37-bathroom Connecticut mansion. Not to mention that he's had to postpone the release of his upcoming 4th album, Before I Self Destruct. I guess we shouldn't expect a sequel to "I Get Money" anytime soon.

Photo © Getty Images

Comments

December 2, 2008 at 7:18 pm
(1) eTrader says:

First!
Poor 50. He might lose his mansion, his stocks are falling. Boo effin’ hoo…

December 3, 2008 at 1:22 am
(2) nerikyto mo says:

hey can we be friends

December 3, 2008 at 2:07 pm
(3) Peg-Leg says:

First time I heard about this, I thought to myself, “That sucks, but what’s a couple million to 50 Cent?”

I wonder if he pulled out the money he has left yet. That’s what my friend’s dad did.

March 29, 2009 at 12:07 pm
(4) KarlPopper says:

he probably listens to whatever his quite evidently stupid advisor’s tell him.

He shouldn’t have just thrown money at equity stocks hoping that their value would increase in the face of a massive recession.

the signs were there, had he just been smart enough to realise that the stock market bubble would burst, so rather than going long, he could have sold them short.

Also he should have diversified his investments, not put all youre eggs in one basket, maybe by shorting commodities like oil, currencies, bonds etc.

50, you’re a fool, but a great artist nevertheless, be more smart with you’re money next time, and remember just because you’ve got the money doesn’t mean you have to go out and spend it right there and then.

“Don’t invest on what you think is going to happen in the future, invest based on fact”

Jim Rogers

seriously i could have done a better job than 50s advisors,

Leave a Comment


Line and paragraph breaks are automatic. Some HTML allowed: <a href="" title="">, <b>, <i>, <strike>

©2014 About.com. All rights reserved.