50 Cent Was Bankrupt before the Vitamin Water Deal
50 Cent Was Bankrupt before the Vitamin Water Deal
It is reported that hip hop artist 50 Cent had serious financial problems earlier this year. He was spending millions of dollars on his Connecticut mansion, on members of his entourage, and personal security. 50 Cent was broke with a lot of assets and very little cash. His accountants even suggested that he sell some of his assets.
He put up his Connecticut mansion for sale and sold some of his luxury cars. He was even thinking of selling his interest in G-Unit Records. Luckily he didn’t have to sell anything because Coca Cola announced a $4.1B cash offer for Vitamin Water, which is an "enhanced water" company which 50 Cent owned a minority stake. He gained about $40 million dollars from the deal.
Since then, 50 Cent has taken his mansion and almost all of his luxury cars off the market. Only his silver Lamborghini is still up for sale.
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- amandaberryman's Xombytes |
There's a lesson in here someplace...
There's a lesson in here somewhere about people that can't live off of $40,000 a year probably won't do very well on $40 million dollars a year. Since it appears that he hasn't learned his lesson from almost losing the stuff he bought, it won't take long for him to be broke again.
When you think of all the people that could do something positive with even a little money, it gets downright infuriating that no-talent hacks and other attention whores have an opportunity to squander on crap what otherwise could make a huge difference in the lives of so many.