Baller Alert Entertainment & Lifestyle
The Washington Post wrote a very interesting story on how Curtis “50 Cent” Jackson scored half a billion and why he is likely the ultimate Baller. And get this, it has little to do with him being a rapper. Check this out:
By the summer of 2003, 50 Cent’s debut album, “Get Rich or Die Tryin’,” had sold more than 5 million copies, and he was easily on his way to becoming a multimillionaire on these sales alone. But the rapper from Queens, who was born Curtis Jackson and had begun his career on the reputation of being shot nine times (a bullet was still lodged in his tongue), wasn’t content to remain a recording artist. And his young manager, Chris Lighty, himself a Bronx street kid turned businessman, was well-positioned to exploit 50’s stardom by creating multiple income streams. Lighty had come out of the Def Jam fold and managed such stars as Missy Elliott and LL Cool J.
With Lighty, 50 Cent created the “G-Unit” brand, including a record company, a clothing company and a sneaker deal with Reebok’s RBK line. The G-Unit Clothing Company was a joint-venture deal, with hip-hop-influenced designer Marc Ecko fronting the money, handling the manufacturing and distribution, and splitting the profits fifty-fifty with 50.
And then there was Vitamin Water
Lighty and Oza (Glaceau) hammered out the terms of a deal. 50 Cent would take a stake in the privately owned company, one that would graduate over time and escalate if the company hit certain numbers. The two entities – 50 Cent on one hand and Glaceau on the other – signed an agreement of mutual confidentiality. Still, word got around that Lighty had negotiated something close to, but not more than, 10 percent of the value of the company.
Read More At The Washington Post
