How Rapper 50 Cent Became an Accidental Bitcoin Millionaire
Ron Perillo / 8 months ago
Rapper 50 cent is a very successful businessman with many projects outside of the music business. At one time Forbes estimated his net worth to be around $155 million. 50 Cent whose real name is Curtis Jackson also has made inroads and success as a movie/television producer. In fact he has two production companies: Cheetah Vision and G-Unit films. He has even appeared in over a dozen films and television shows. Jackson also has followed in the footsteps of Dr. Dre and started his own headphone brand SMS audio. Like most successful rappers, he also has his own clothing line and his own energy drink line. Most famously, he also netted close to $100 million when Coca-Cola purchased Glaceau, a vitamin water company that Jackson had a stake in.
50 Cent: Latest Bitcoin Millionaire
Despite his business savvy however, the rapper’s latest success story is surprisingly accidental. In his latest Instagram posts he recounts how he accepted 700 Bitcoin as part of payment for his “Animal Ambition” album from 2014. At that time, Bitcoin’s value was $662 per coin so his share is the equivalent of $400,000. His bitcoins remained untouched until now, so with value fluctuations between $10,000 and $12,000 per coin, this $400K is actually now worth between $7 to 8.5 million USD. Considering “Animal Ambition” is his least successful album yet, it is quite the stroke of luck that he managed to turn the failure into a success.
Jackson did not disclose whether he is cashing it out or riding the Bitcoin wave further. He also admitted on Twitter that he forgot that he even had Bitcoin until somebody told him. So he most likely will keep it marinating there for a while as an investment.