Did 50 Cent's Vitamin Water Deal Change His Net Worth After He Lost Most Of It To Lawsuits?
50 Cent has had an excellent music occupation and is best identified for his hit tracks like "In da Club," "Candy Shop," and "Just A Lil Bit," however he has additionally made cash from other partnerships and trade ventures. Perhaps his most lucrative (at least temporarily) was with the water corporate Glaceau. In 2004, the rapper partnered with the company accountable for Vitamin Water, endorsing the product and becoming one of the fame faces attached to the logo. Sounds just right, right?
It used to be, however 50 Cent's lifestyles did not go precisely as planned within the years that adopted. He was hit with several lawsuits that resulted within the loss of the fortune he have been operating so arduous to reach. But did his Vitamin Water deal save him?
Why Did 50 Cent Partner With Vitamin Water?
Some fans could have questioned 50 Cent's transfer to spouse with a beverage corporate, but his decision is unsurprising. Many celebrities have done the same, lending their symbol and voice to different firms, which is a good way to earn additional cash.
"The financials of the music business have changed to the point that we have to find ways to make money in other places," 50 Cent's logo manager Barry Williams instructed Forbes. "I didn't think six years ago when we started trying to sell music that we'd be selling VitaminWater and shoes and clothes. Now we're moving into other directions, and four or five years from now, it's exciting to think about us looking at natural resources and raw materials and other businesses."
But what precisely did 50 Cent do for the brand? It used to be not just his symbol, he additionally worked to create a distinct version of the Vitamin Water, which would change into known as Formula 50.
His partnership with the company led to 2007 when mega-giant Coca-Cola obtained Glaceau for $4.1 billion. The payout for the rapper was huge; in accordance to Forbes, he earned $100 million. With this sort of cash in the financial institution, why did 50 Cent (actual identify Curtis James Jackson III) report for chapter not up to ten years later?
Why Did 50 Cent File For Bankruptcy?
No one can ever be sure that of their monetary position, and 50 Cent knows this better than most. This is because, in 2015, he filed for bankruptcy. The news surprised fans, but most likely the announcement used to be much less sudden for those conserving nearer tabs on his profession and industry selections.
"In court papers filed in the US Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million," The Wall Street Journal stories (via Insider).
At the time, it was once reported that the rapper owed $32.5 million in debt (by the use of News.com.au) and would later make a deal to pay back $23 million within the next 5 years.
The reason for his filing is difficult however includes paying Lastonia Leviston $7 million (even though different publications document the volume as $5 million) for sharing her private ape online with out consent (which is not the first awful thing he has been accused of doing).
Sleek Audio also sued him for now not gratifying their deal referring to his headphone line—the lawsuit for $17 million. The monetary recession in 2008 was additionally in part to blame for his loss of wealth, and his promotions, companies, and music occupation had not been playing the same success he had once had.
The publication notes that experts claim the rapper's lavish spending also took its toll. He has been known for his desire for the finer things in existence. These days, 50 Cent seems to have recovered (at least partly), with Celebrity Net Worth reporting his estimated wealth to be $forty million (whilst no longer anywhere near as spectacular as the payout he got from his former partnership with Vitamin Water, it's not exactly spare change either).
But what has 50 Cent mentioned about his time in his life, and how did he care for bankruptcy? In an interview with The Guardian in 2020, he got candid about his struggles. "Business people will do that in a heartbeat before losing money. Because it means they have the ability to be secure and invest again," he stated.
"You're talking about a judge who makes $125,000 a year. Hahaha!" In some way, this filing could be considered as a favorable as a result of instead of hemorrhaging money, 50 Cent was able to shift his focal point and pursue different business ventures.
What Has 50 Cent Done Since Filing For Bankruptcy?
The submitting was once no longer all bad information for 50 Cent. "The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests. Mr. Jackson's business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case," his criminal suggest told Hollywood Reporter.
"This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs."
In the years since his submitting, 50 Cent has clawed his long ago to the top. He has additionally proven himself as a significant actor and manufacturer with work on the show Power. In his interview with The Guardian, he told the e-newsletter that he had earned $A hundred and fifty million from signing a deal for the hit tv collection. But the rapper would later part tactics with the network Starz and shared that he regretted the partnership.
According to Vibe, he known as out the community on social media, including writing in regards to the finish of their partnership. "This is me packing my stuff, STARZ. Sucks, my deal is up over here I'm out," he is reported to have shared on Instagram. "They Renewed High town and FORCE is the highest-rated show they have it sitting in limbo. If I told you how much dumb sh** I deal with over here."
This was once now not the one comment he made; he additionally tweeted: "I have the number 1,2,3, and 4 top Tv shows in African American, and Latina households and i hate that i did them with the wrong people (sic). I'm not doing any BMF spin-offs or selling any other shows to STARZ (sic)."
Although 50's Cent's long term endeavors is also unclear, there may be one thing we will be able to say with sure bet; he is nothing if now not resilient, and while he managed to give you the chance out of his chapter to as soon as once more grow to be a tycoon, not anything is preventing him from achieving even larger success someday. This decision and dedication endear him to lovers.
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