Remember back in 2015 when hip-hop mogul and serial entrepreneur Curtis “50 Cent” Jackson went broke and was forced to file bankruptcy, despite having amassed a fortune of nearly $25 million?
If you don’t, here’s a refresher: Known for surviving a nine-bullet gunfire that should have killed him, 50 Cent initially made the bulk of his money on his illustrious rap career with hits that include 2003’s “In da Club” and “21 Questions.”
Shortly thereafter, 50 began to invest in huge money-making deals with companies such as Vitaminwater, from which he made an estimated $60 to $100 million once the company was sold to Coca-Cola in 2007. His endorsements at the time included deals for brands like Reebok and Right Guard, as well as his own G-Unit Records and G-Unit Clothing Company.
https://www.instagram.com/p/BZ40gb3FYGQ/?hl=en&taken-by=50cent
However, living way too large and making some poor decisions (i.e., posting a revenge sex tape of “enemy” Rick Ross’ child’s mother) resulted in big lawsuits, ultimately leading to 50 Cent’s bankruptcy.
Fast-forward three years and 50 Cent has accidentally become a Bitcoin millionaire! Kind of obnoxious, right? Before Bitcoin blew up, the rapper decided to “take a chance” on the cryptocurrency, and according to TMZ, it’s paid off more than 7 million times over.
https://twitter.com/50cent/status/955908135922950144?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fwww.theverge.com%2F2018%2F1%2F24%2F16930010%2F50-cent-rich-bitcoin-twitter-instagram-humblebrag
Here’s what happened: Back in 2014, 50 Cent dropped “Animal Ambition” and with it he became the first rapper to accept bitcoin as payment his album. Back then bitcoin was valued at around $662/bitcoin. Basically, his fans could buy the album with a tiny portion of a bitcoin. TMZ reports that this album raked in around 700 bitcoin in sales, which translates in to a whopping $400,000.
https://www.instagram.com/p/BakGmFalT22/?hl=en&taken-by=50cent
Apparently, the rapper literally forgot about that particular account and didn’t touch it for years. Recently, bitcoin’s value has fluctuated between $10,000 and $12,00 per coin, leaving 50 Cent $7 to $8.5 million in his forgotten account!
Anyone else forgot about their bitcoin account lately? Now might be the time to double check that balance!
Chelsea is a freelance journalist based in New York City whose passion revolves around exploring the world, immersing herself in foreign cultures, and of course, eating and drinking everything delicious. She covers all things food, drink and travel and is always up for an adventure, whether that means an adrenaline-pumping excursion or trying a new cuisine. Follow her on Instagram at @cheycheyfromthebay and keep up with her latest work at www.chelseadavis.com and at her blog www.cheycheyfromthebay.com. More.
