Alot of these 25 million dollar homes were only 5 million, 6 or 8 years ago. High end real estate has the farthest to fall. 50 cent just may want to get 20 million before it's worth 7.
He should become a succesfull trader thus making huge $$$$$$$$$$$$$$$$$ and ET members will teach him the "right way" !!!
making money quickly often leads to losing it quickly........as traders we all know that, right? i have a relative who is an up and comming peforming artist (no, i will not reveal their name) you'd be suprised at how difficult it is to manage the money. i'm not defending anyone but....most of these artists have zero understanding of $$ and rely on others for advice...for a percentage, of course. being one of the few people in the family that has any financial sense i get calls all the time about what they shouyld do or not do. (i also have an OPM situation wating for me whenever i want, but i don't want it). in addition to an agent/manager, my relative also has a business mgr., pubilicist, tour mgr., paid band members, crew, and others that all share the $$. entertainers typically have many hangers-on., so many that in actuality the typical entertainer only sees about 20 - 25% max of what they get paid. so on a tour that grosses 1M, the artist gets maybe 200-250k if they are lucky. (they usually make more from the merchandising, which is classified as a different revenue stream and does not get treated the same as cd and tix sale) they do get freebies for promotional purposes, but you'd be suprised how little $$ they actually get in the end. my relative was written up in rolling stone magazine, had a nice blurb in people magazine, appeared on some national TV...and all the while they were financaily in debt to their label!!! all my freinds thought i had it made, lol. its only been in the last 6 months that they got out of debt with their label....but you wouldn't of known it from just looking at their lifestyle.
if i would be a betting man which i am....i would bet that not one mo-fo on that list with the exception of knight needs the pocket change...these guys are alot more savy then you guys give them credit for...dont bundle them with the likes of MC hammer and Tyson....these guys are branding machines and they know how to turn lyrics and cotton into gold......i mean RUNS HOUSE cmon how the fuck did he land that gig..... but then again im just a little guy trying to bust a nut...
I could care less how these guys use or abuse their wealth, but as with everything else, lyrical tastes change. The bulk of these guys will be has-beens once that happens. Artists make less today than they did 20 yrs ago. Most of their material wealth is "rented". Only a minority choose to invest wisely. Ask yourself where yesterday's most popular artists are today...you'll have your answer as to where 50 cent will be tomorrow...
Russell Simmons would definately fall into that category. Probably 50 as well. Not sure about the others.
Don't bet too much. Rusell's divorce, while not nasty, may be forcing a change in some things. I'm from Chicago and I do know just a tad about some of Mr. West's issues. Some of his posse are hurting bit and he's talking about helping them out. I can't say that his change is tight, but it is being reorganized. And yes, many of the community are finding out that while those diamonds are nice, they don't resell the same. Especially when they are in a customized cluster to spell out your name. Many of these guys made a few dollars and then tried to launch their own artists under their own labels. No business experience whatsoever!! I know several guys who sold ring tones that they made to West, and others, and got a few thousand for the effort. Headed straight to the Benz dealership too. And now, when money is tight, the tax man has commeth....
It's definitely jealousy talking. 50 Cent will continue to get richer and richer. You know why? Doesn't matter if he's got the business sense or not - but the guys who hooked up the deal for Vitamin Water will still be around managing him and his cash.