Sometimes in the entertainment business sudden success can lead to unusual financial situations. Back in 2021, 50 Cent sat down with Brian J. Roberts for an interview that included a fascinating tidbit of his living situation following the 2003 Rock the Mic tour with Jay-Z. The tour left 50 Cent much wealthier than he was before he started out on the road.
As 50 put it:
“I came back, I had $38 million in my account…And all I had was a two-bedroom apartment that was $800 a month.”
Rent was obviously quite a bit lower in 2003 than it is today, but according to 50 Cent, low rent can be a curse when you’ve got a lot of money coming in:
“If you don’t spend it, you know the IRS is going to take it. So I needed the expenses.”
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50 Cent said he upgraded his digs in a massive way, purchasing a house in Connecticut that belonged to Mike Tyson. He reportedly spent $4.1 million on the property, then invested another $10 million on expansions and renovations before selling it off. It’s interesting to note that as 50 puts it now, he bought the house not because he really wanted a bigger house but to simply avoid additional taxation.
He also shared some more insights into his financial ups and downs, saying that what comes across in public is often only part of the story:
“You make investments in different things. Sometimes they win. Sometimes they don’t. More losses than wins but when you do win you win so big it makes up for everything… People look now and say they’re feeling momentum of me in television now. But I started this ten years ago.”
20 years later, it’s amusing to think about 50 Cent living in an $800-a-month apartment during the early stages of his superstardom. And it’s also striking to think that back then you could get a two-bedroom apartment for $800!