He was crowned the 2008 Hip-Hop Cash King by Forbes just a few months ago, but not even music mogul 50 Cent is immune to the effect of the recession. Click Here For More...
The rap superstar recently admitted that with the downturn of the economy, he too has lost money ... big money.
"I lost a couple million dollars already," he said. "I sit with my investors and business managers and accountants, looking at the numbers, and I'm like, 'Yo, the values of stocks in different areas that I invested in are decreasing!' So I take the loss like everybody else."
However, despite financial losses, 50 is well aware of how to stay out of the red. In fact, his Connecticut mansion -- once owned by Mike Tyson -- is a constant reminder to him to keep a close eye on his money.
"I'm waking up in a room that was previously Mike Tyson's bedroom, a fighter who earned over $500 million in his actual career, and when I purchased his house from him he was in bankruptcy," 50 explained. "If that's not a strong enough reminder for you, I don't know what's going to remind you to be aware of where you are financially and make conscious decisions."
One of the decisions he's made most recently was the delay of his upcoming fourth solo album, Before I Self-Destruct. The project was originally due to hit stores in December, but decided he wanted to build more awareness for the project to avoid a disappointing sales performance.
"Pushing (the album) back was to position myself a little better. I want to make sure (buyers) hear some things before I actually get my CD physically on sale," he said.
The album is now due in stores in 2009. It will also include two bonus DVDs.
Source Ballerstatus.com
The rap superstar recently admitted that with the downturn of the economy, he too has lost money ... big money.
"I lost a couple million dollars already," he said. "I sit with my investors and business managers and accountants, looking at the numbers, and I'm like, 'Yo, the values of stocks in different areas that I invested in are decreasing!' So I take the loss like everybody else."
However, despite financial losses, 50 is well aware of how to stay out of the red. In fact, his Connecticut mansion -- once owned by Mike Tyson -- is a constant reminder to him to keep a close eye on his money.
"I'm waking up in a room that was previously Mike Tyson's bedroom, a fighter who earned over $500 million in his actual career, and when I purchased his house from him he was in bankruptcy," 50 explained. "If that's not a strong enough reminder for you, I don't know what's going to remind you to be aware of where you are financially and make conscious decisions."
One of the decisions he's made most recently was the delay of his upcoming fourth solo album, Before I Self-Destruct. The project was originally due to hit stores in December, but decided he wanted to build more awareness for the project to avoid a disappointing sales performance.
"Pushing (the album) back was to position myself a little better. I want to make sure (buyers) hear some things before I actually get my CD physically on sale," he said.
The album is now due in stores in 2009. It will also include two bonus DVDs.
Source Ballerstatus.com
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