Rapper 50 Cent Can’t Afford Diamonds
10/27/2009 9:11:09 AM David Berkovits
It seems that the recession truly is affecting everyone, including multi-platinum rap stars like 50 Cent. The hip-hop artist recently revealed that he has to sell his old diamonds before buying new ones, thanks to the recession shrinking his fortunes.
50 Cent, born Curtis Jackson, estimates he lost “a few million” during the recession. He is believed to be worth over $300 million. “If you don’t lose money in this recession, it means you didn’t have enough to start off with,” he quips.
“The credit crunch has hit rap,” he said. “I buy diamonds on a very regular basis, but now I am selling my old stuff before I get something new. These are times when you learn about the value of money.”
The 34-year-old auteur said it was inevitable that rich people like him would lose money in the current economic climate: “Sure, I lost a few million, but that’s because I have so much. This is a time that will sort out the strong from the weak.”
He also provided free advice to President Barack Obama and other leaders: “Any businessman who wants a piece of the future should learn for me. Obama is great. If he wants me as his financial adviser that would be cool.”