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50 Cent's $150 million tops Forbes 2008 hip hop list...investing in African platinum mine...
While Jay-Z topped Forbes.com’s inaugural Hip-Hop Cash Kings list of the top-earning people in the business last year, in 2008 he cedes the throne to Curtis “50 Cent” Jackson, who raked in $150 million over the past 12 months—almost twice what Jay-Z made.
The new king of hip-hop wealth banked $100 million after taxes on one deal alone when his stake in VitaminWater’s parent, GlacĂ©au, was bought by Coca-Cola (nyse: KO – news – people ) as part of a $4.1 billion deal. 50’s portfolio also includes the popular G-Unit clothing line and record label, plus films, videogames and a slew of platinum albums, including last year’s Curtis. Also in the works: a mining partnership with South African billionaire Partrice Motsepe.
When it comes to records, 50 Cent knows what it takes to go platinum. But in a mine shaft thousands of feet below the surface of South Africa, he’s got metal, not vinyl, on his mind.
Last May, 50 paid a visit to billionaire mining baron Patrice Motsepe in South Africa. Flanked by select members of their respective entourages, the unlikely duo descended into a subterranean trove of platinum, palladium and iridium, growing like moss on the earth’s warm innards. A spectacular backdrop for a bling-drenched music video, to be sure.
But 50 was there for other business: to forge a joint venture with Motsepe that could soon bring him an equity stake in the mine—and 50 Cent-branded platinum to the world.
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