As good as he was at getting rich, he hasn’t proven to be that good at staying rich. You’ve probably been informed by now of Curtis “50 Cent” Jackson’s financial woes following the multi-million dollar settlement against him in addition to his recently bankruptcy filing. Now, HipHopDX reports that 50 has put his 21-bedroom Connecticut mansion up for rent in an effort to drum up a little additional revenue.
Given that the guy slapped down a $1.6 million bet on the Mayweather fight earlier this year, you’d think he’d be more hip to taking advantage of the lucrative casino licensing market. These days, it seems like every celebrity is trying to squeeze every last dime out of every endorsement and sponsorship they can lay their hands on. More celebrities are loaning out their likenesses to lady luck to create an extra revenue stream on the side with pop stars, talk show hosts, metalheads, and every in between cashing in.
Dolly Parton and Megadeth are just two of the artists who have made their way to the digital floor on InterCasino in particular. And then there’s daytime television queen Ellen Degeneres, who has her own line of slot machines that have been a big hit in Las Vegas. Last year, Review Journal reported that the party-loving anthropomorphic can of Bud Light, aka Pitbull, developed his own game in partnership with Bally Technologies, and others are continuing to follow suit.
As an avid gambler himself, 50 Cent would be the first choice for someone to emblazon his brand on a slot machine. Given the rapper’s current financial straits, he could definitely use the additional revenue and he’s already tried to brand everything else. If he were to go this route, he’d hardly be the first rapper to take advantage of the online casino market. Young Money CEO Lil Wayne already has his own slot machine app available for Android, meaning Mr. Jackson could count himself in good company. At this point, he’s only missing out by not jumping on the bandwagon.
Apparently the house was a less than great investment as reports state that the home was worth $12.9 million in 2009 and is valued at around $700,000 today. That’s nearly a 50 percent depreciation in market value. What happened to the once business-savvy 50 Cent who made a small mint selling flavored water back to the Coca-Cola corporation?
Keep in mind, though: 50 Cent specifically filed for Chapter 11 bankruptcy. This doesn’t mean that you don’t have any money; it just means that you’re “insolvent,” and if all of your debts were due at the same time, you wouldn’t have enough to take care of them. Chapter 11 is a way to make sure your creditors get what they’re entitled to while protecting some of your own assets in the process. Still, most people going through Chapter 11 don’t rent out their houses, and that level of liquidation definitely doesn’t bode well for 50. Time to check out those Connecticut real estate listings.