Curtis, 50 Cent, Jackson's finances have taken extreme turns over the past few years. The 42-year old rapper filed for bankruptcy in 2015 after losing a privacy lawsuit to Lastonia Jackson, and in July of 2016, a judge ordered him to pay out $23 million to his creditors over a course of five years, but he managed to pay it off in seven months. Then in July of last year, 50 Cent sold a share in Effen Vodka worth $60 million.
Now it turns out, 50 Cent made $7 million on his last album by accepting Bitcoin. He was the first rapper to take Bitcoin payments when he released his 2014 album Animal Ambition. The album pulled in roughly 700 coins at a time when the cryptocurrency was still relatively new. This translated into about $463,000 in sales.
Animal Ambition was one of the rapper’s worst selling and least memorable albums, yet because of the savvy decision to test out Bitcoin before it became popular, he managed to turn the album into one of his most profitable.
50 Cent Proves His Savvy Once Again
Back in 2014 when the album came out, Bitcoin had a value of $662.50 Cent ended up sitting on the digital coins for years. When the cryptocurrency skyrocketed in value last year, the album’s sales swelled to over $7 million. The record has now made between $7 and $8.5 million. He told MTV he was satisfied with the sales in an interview in 2014, but he certainly didn’t exude confidence. Now the businessman is changing his tune.
This was not the first time he has shown his shrewdness as a businessman. Back in 2010, the musician-turned-entrepreneur made upward of $100 million dollars after Coca-Cola acquired Glaceau, a flavored vitamin water that 50 Cent had previously invested in.
50 Cent Takes to Instagram
50 Cent shared some of his thoughts about his lucrative Bitcoin investment on Instagram. In addition to using the publicity to promote his upcoming movie Den of Thieves, he also claimed on Instagram he had forgotten all about the coins he had stashed away: “I’m a keep it real I forgot I did that shit. Lol.”