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50 Cent

50 Cent
2 minute read

Curtis Jackson — known better as rapper 50 Cent — started out as a drug dealer. Since then he has had a platinum album and more recently gotten into investing.

In 2004 he became a spokesperson for beverage company Glaceau, and was paid with a share in the company. When Coca-Cola bought the company in 2005 for $4.1 billion, Jackson made over a hundred million.

In 2010 he was involved with a company called H&H Imports, which launched through the TV show Shark Tank. The company was making 50’s brand of headphones named Sleek By 50. More than a little similar to Beats By Dre, they did not sell nearly as well. The company was losing a lot of money and was near bankruptcy.

50 put his skills at pushing a product to work here. He bought over 12% of the H&H shares and then made an audacious move. After a couple weeks, 50 went on twitter. He told his fans that H&H had:

HNHI is the stock symbol for TVG sleek by50 is one of the 15 products this year. If you get in technically I work for you. BIG MONEY

People bought into this and other similar tweets, and bought over 9 million shares of the stock. He did also did make a delayed tweet about how he is involved with the company and people should do their own research, but it was too late for most people. Also tellingly, he deleted the original tweets telling fans to buy the stock.

The scheme drove up the price and 50 cashed out, leaving his fans holding the bag as prices fell. He made an estimated $10 million. He was investigated by the SEC but nothing came of it.

After this shady H&H move, some would call what has since happened poetic justice. He lost a lawsuit claiming he stole the design for Sleek By 50 headphones. Even worse, he was forced to declare bankruptcy in 2015.

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