50 Cent Nets $400 Million From Coca-Cola DealFunny thing is, this former crack dealer from the streets of Queens has just taught more young black people about finance, investment, economics, money, marketing and capitalism, than all the HBC's, Ivy League Schools, and The United Negro College Fund ... combined.
By Staff
May 29, 2007
Rapper 50 Cent is going straight to the bank - he's reportedly received a massive $400 million (£200 million) paycheque after The Coca-Cola Company bought the firm behind his energy drink Formula 50 last week (25May07).
Drinks makers Glaceau, which produces the Vitamin Water range inspired by the Candy Shop star, was acquired by The Coca-Cola Company for $4.1 billion (£700,000 million) last Friday.
"I don't know why niggaz like to talk bad about meI'm the richest nigga they know without a G.E.D.
Man it could be the money, it could be the ice
It could be they'd like to be me and can't live my life"
27 comments:
Fitty just made damn near half a billion! I don't think he's taught Black youth much other than the fact that he's got the skills to play this game called capitalism. I would say he needs to put what he's doing in a book, but what he's doing can't be so easily encapsulated. I don't know if it's his money management team or just him but he's got "it", since no other rapper outside of Jay-Z and really no other music artist period is leveraging his value into so many other fields. I hope he keeps doin' what he's doin' and stays alive because he's really going to be a wanted man now.
I am not mad at the hustle...but should I applaud the fact that this brotha has $400 million and the rest of us is po' and not free? I'm not impressed...
As one of my fav old school rapper's, Ice Cube used to say..
"I was taught back on my block, that you don't ride on nobody's jock...for anything they do, f&ck him and his crew...
unless you was getting paid too.."
That is how I feel about that one...
Soteria, I'm surprised. Your not impressed with half a billion by a formerly poor and uneducated BLACK man simply b/c your bank account doesnt show the same activity? Come on girl. You dont have to like the music to give credit where credit is due.
Like I said...
I applaud his capitalist hustle...good for him....
but am I gonna act like that makes him an honorable man and worthy of my respect...no it doesn't.
I think we place too much emphasis on what people have instead of what they stand for...and can someone please define for me what he stands for? Last time I checked it was all money...
i certainly respect his hustle and the partnerships he's made since "how to rob" but CD's, beverages, apparel, shoes and gun tottin'-crack slangin' rebel positioning are far from new. brand affinity is where he sets himself apart and it would take Malcolm Gladwell to explain it. his rumored effort to manuf affordable mac computers for the hood raised my eyebrows considerably b/c he seems to understand service at least a lil bit. I hope it comes to fruition and that he continues to incorporate much needed service, such as the technology divide, to our community.
http://allhiphop.com/hiphopnews/?ID=5798
KP
I am not mad at the hustle...but should I applaud the fact that this brotha has $400 million and the rest of us is po' and not free? I'm not impressed...
You applaud your boy Dollar every Sunday for exactly the same thing. Why not 50?
What does 50 stand for? Succeeding in a system where the odds are stacked against him.
Dina
i'm seeing various reports that this isn't true and that 50 owns much less than 10% of the company. Can't really figure out which sources are credible over others.
May 30, 2007. A few days ago a couple of news sources reported that Curtis "50 Cent" Jackson is set to make $400 million off the sale of Vitamin Water to Coca Cola. According to the reports, 50's windfall is a result of him owning 10% of Energy Brands, Inc - the parent company to the popular beverage Vitamin Water. Well MediaTakeOut.com has learned that those reports are complete fiction.
In an exclusive interview, MediaTakeOut.com spoke with an investment banker familiar with the proposed Energy Brands acquisition. And according to the banker, 50's equity interest in the beverage company is far less than 10%. The banker explains, "50 Cent has a licensing agreement with Energy Brands which pays him a set fee and gives him a percentage of the sales from Formula 50 [The flavor specifically designed by 50]. He does not own a significant interest in the company ... The 10% number you hear is pure fiction."
But don't feel too sorry for the multi-platinum selling rapper. According to the banker, 50 Cent's current deal with Energy Brands is worth many millions of dollars. Tells the Wall St. whiz, "[Energy Brands] has a number of celebrities who endorse their products, including Brain Urlacher, Shaquille O'Neill, and Allen Iverson. But the endorsement deal with 50 Cent is, by far, the most substantial."
Energy Brands was founded in 1996. Since then it's become the market leader in the enhanced water arena.
http://www.mediatakeout.com/6420/report_50_cent_did_not_make_400m_from_vitamin_water_sale.html
Dina,
I will say this....I dont know Fifty...so I shouldnt speak on him. I just don't know if we should look at it from a one sided point of view where it doesn't matter what you do on one side of the fence as long as you're getting paid. I personally feel that people should stand for something more than material possesions.
Dina,contrary to what you may think, my Pastor does do a whole lot for the community and for the spiritual growth and development of his congregation. For whatever reason it makes you feel good to make negative comments about him...and I will take it as a mirror to me to not be so quick to judge without knowing.
Definitely one of the hardest lessons to absorb..because the human mind wants to judge and classify EVERYTHING!
Casper, early talks between Glacieu and Coca Cola were written about in the Wall Street Journal. When you can find a source for your contention that the sale didnt occur other than "mediatakeout," I'll be interested.
that should have read "that the sale didnt occur as reported"....
Robyn,
I don't make any claim either way. Just passing on the news. Although the Wallstreet Journal reported that Energy Brands sold a 30% stake three years ago for 600 million to an International Conglom. I would find it quite interesting if Fiddy paid even 100 million for 10% in 2001. Either way whomever is providing him financial advice seem to be pretty good. Good for him.
Soteria,
I give you credit for recognizing the contradiction between your approach to Dollar and your approach to 50.
However, I'm surprised that you keep saying that we shouldn't put so much emphasis on material possessions, yet refuse to entertain any criticism of your pastor. I am sure he does great things, but I am sure George W. does too. That doesn't mitigate hypocrisy.
Dina
Dina,
Because a person is a successful business man and makes money off of speaking engagements around the world, books, and owns a record company...he is somehow not a man of God. Your logic is based on your interpretation of the idea that HAVING material possesions means that your FOCUS/DESIRE is based there. You can have nice things and not have them define who you are or be your sole concentration in life. My pastor's focus is God.
Actually, my argument is not that having material possessions means that one's focus/desire is there. I've never said that.
My argument is that someone who is really focused on God wouldn't want a phat pad in Manhattan, a couple Rolls Royces and a private jet. A true person of God would not care for such things. Jesus didn't.
I hope 50 didn't just make half a billion dollars. He on the fast track to dead right now with the millions he already has. Give him unlimited money and he'll be a dead fool in very short time. Money, unfortunately has not made him much smarter by all appearances.
exodus, how much smarter can any person possibly be? 50 made no secret that he got into rap for the money and not the music. I respect Curtis Jackson as a highly successful business man. He accomplished his goal of creating wealth. He's also diversified his wealth. I read somewhere (don't know if the source was credible or not) that he's trying to do a deal with apple to make cheap computers for low income families. He's turning himself into a TYCOON. Daayumm!
No so fast, y'all. Let's wait and see if this fool can manage not to SPEND all of it (on bullshit) in 6 mos.
But if he doesn't spend it all or, better yet, and can flip those chips into $600M, then I'm all about giving him his props.
Soteria said...
I am not mad at the hustle...but should I applaud the fact that this brotha has $400 million and the rest of us is po' and not free? I'm not impressed...
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lol..soteria salty because that man is paid...ha ha...step your game up if you're mad.
"He accomplished his goal of creating wealth."
Paul.
I said elsewhere that if you are willing to dump on your people you can become filthy rich without a problem.
If all you want to do is get wealthy you can do so today. They pay Niggers real well these days. They don't Black Men.
So if you wanna be a rich Nigger quick, go on out there. If you wanna be a rich Black Man it'll take much longer.
Well said, Michael Fisher! PREACH!
There is absolutely NO room in "massa house" for black folk who ain't willing to stomp on other black folk to come up. That rule applies across the board.
I'm willing to bet that there ain't many black faces working the finance/legal aspects of Fiddy's business.
I certainly hope he's insisting that on some colored faces to do business for and with him.
Mr. Fisher,
Being an entrepreneur myself, I respect Curtis Jackson's ability to generate large sums of income. One of the products he sells (rap) can strongly be argued to have a negative impact on our community and I would love for him to take accountability for that. In a similar fashion, I would love Hank Aaron to take accountability for the 13 artery clogging Church's Chicken fast food joints he owns. We live in a capitalistic society and neither one of them is doing anything illegal. Should he get the 'noble uplifting product of the year' award...no. His ethics obviously can be questioned. Is he (and Hank) a damn good business man...absolutely.
Paul,
Obviously you didnt read my post...I said that congrats to him for making a whole lot of money. But at the same time, its whatever...why should I be on this man's jock because he got paid. Good for him. I'm saying this across the board...I don't get all caught up in what the next person is doing, I definitely do me.
I personally have more respect for an individual that gives back when they have been blessed in life..then for someone who just gets paid and says LOOK AT ME LOOK AT ME...I've got money!
In my opinion, Black folks are too disenfranchised across the board in this country to have individuals stack mounds of paper and hoard it to themselves instead of creating enterprises and entities that allow us to control our own. I am all for doing your thing...but what does it all mean if you are not helping or blessing anyone in the process?
(This is not to say 50 isn't doing that...I don't know!!?)
Damn, there's bunch of people that wont be invited to the celebration when I make a half a billion! Soteria, Exodus, Denise (your on the maybe list), Fish......ya'll would just be standing there talking about what I didnt give you, how I'm not really that smart and how the same thing was supposed to happen to you. Haters!
Soteria said,
"I personally have more respect for an individual that gives back when they have been blessed in life..then for someone who just gets paid and says LOOK AT ME LOOK AT ME...I've got money!"
Wow, I find that strange coming from a person whose spiritual leader, Creflo Dollar, is on the same level as Curtis Jackson. Does he encourage his congregation to not JUST create wealth for themselves but also create wealth for their community? Does he lead by example by opening the doors to his multi room filled mansion and offer places for the homeless to sleep and change their lives? Curtis Jackson is a business man. I would argue that Creflo Dollar is a con man. He's built his entire congregation on prosperity preaching when his focus SHOULD be on 'love' preaching. Isn't that the main lesson that Jesus taught? Ceflo has bamboozling the masses to contribute to his personal wealth in exchange for poor spiritual guidance. At least Curtis Jackson is no con man. Correct me if I'm wrong, but doesn't Creflo keep it a secret about how much of his undisclosed church funded salary he actually "gives back"? If you know the answer, which you should, I'm very curious to know how much he gives back since you respect him so much and not Curtis.
Paul.
Like I said. If you want to sell things that harm your people legal though they may be, you'll make money and be a great businessman. So you can go the Bob Johnson route. You can go a crack wholeseller's route.
If you can live with yourself and can justify it to yourself. Go ahead.
Paul,
Don't you ever get sick of hearing the same words come out your mouth?
In answer to your questions...
Paul:
Wow, I find that strange coming from a person whose spiritual leader, Creflo Dollar, is on the same level as Curtis Jackson.
Soteria:
Same level in terms of net worth - hmmm, I don't know about that, but it is an interesting theory.
Paul:
Does he encourage his congregation to not JUST create wealth for themselves but also create wealth for their community?
Soteria: Actually yes he does. Contrary to what you have HEARD..he encourages people to seek TOTAL life prosperity as opposed to a straight focus on money. Money is a component of total life prosperity - the other components are a healthy and loving spirit, control of your emotions and temperance, walking in love with other people and taking the principles that the bible teaches to bring people out of their mental bondage of lack. ...and likewise when a person is spirtually fed, emotionally fed, and financially fed..they can be a blessing to others. When a person has no money, they cannot help others because they are trying to survive themselves.
Paul: Does he lead by example by opening the doors to his multi room filled mansion and offer places for the homeless to sleep and change their lives?
Soteria: Are you serious...do you? Come on...everyone is not called to serve in every area of life...No one can be all things to all people. But in response to your comment, I was visiting Atlanta right after Hurricane Katrina...literally the weekend after and the place was filled with a lot of people who had come in from Louisiana. The people were distraught, emotional, and literally some had nowhere to go...they had just come straight to the church. Dr. Dollar called all of the people who were Katrina survivors to stand up and come to the front of the church...there were so many of them that they literally wrapped around the large dome. He stood at the front of the church and prayed with them and reassured them that all that they a had lost God would restore... He stood there and had a huge bag with him, and he opened the bag and it was FILLED with $20 bills...he took that money and began to go around to the different individuals and hug them, pray with them and give them a STACK of money. I have never seen something that emotional in my life...people were literally falling out and screaming and praising God in gratitude. After he and his officers finished giving these people money, he turned to the congregation and said you know what your brothers and sisters have been through, if you are in a position to, I ask that you consider blessing one or more of these families with a contribution...man, literally the WHOLE CHURCH poured out and started getting up, bringing cash, checkbooks, change, everything blessing these people who had been through so much. It was amazing. World Changers was also one of the churches that had buses that were going back and forth to Louisiana bringing supplies of food and water and bringing people into Atlanta to be with their families... No, I don't think he takes homeless people into his personal residence...but I think that speaks to his spirit...
Paul: Curtis Jackson is a business man. I would argue that Creflo Dollar is a con man. He's built his entire congregation on prosperity preaching when his focus SHOULD be on 'love' preaching. Isn't that the main lesson that Jesus taught?
Soteria: Have you ever been to his church or even heard him speak? His ministry IS a LOVE ministry...believe me. His ministry is the reason that I am not cussing you out and trying to go tit for tat with your comments. Why don't you learn something more about someone before you make those statements?
Paul: but Ceflo has bamboozling the masses to contribute to his personal wealth in exchange for poor spiritual guidance. At least Curtis Jackson is no con man. Correct me if I'm wrong, but doesn't Creflo keep it a secret about how much of his undisclosed church funded salary he actually "gives back"?
Soteria: Paul, dude...you are so disrespectful with your comments...I KNOW the love of God is in me. You are basically saying that this man is bamboozling me with poor spiritual guidance - (that you have a first hand knowledge of) for his personal benefit. Please!? Since people keep going there like a pastors salary is the only source of income that a minister can have. Let me break something down for you. Rev. Dollar is a 1 ) public speaker 2) Published author of a library of books 3) Owner of a record company and probably has some other business entities that I don't even know about. I have literally only been a member of the church for 3 months and I can say that I have not thought once about his so called 'undisclosed salary'. Dude, this man has taught me how to walk in love, honor God and serve Him in word and action...I am a 100% better person than I was in terms of my biblical and spirtiual understanding and my love walk with others. Like I still love you even though you seem to want to continue to issue round about disses to my intelligence because I am a student of a teacher that you know NOTHING about.
Paul: If you know the answer, which you should, I'm very curious to know how much he gives back since you respect him so much and not Curtis
Soteria: I am focused on God and not money...which is somehow what you apparently think is the main focus of his ministry.
Paul, let me ask you are you even a Christian? What do you believe?
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