News: 50 Cent Reacts To 'Forbes' Wealthiest Hip-Hop List, Talks Record Sales [Audio]
Sunday, Apr 29, 2012 9:08AM
G-Unit leader 50 Cent has offered his take on getting placed on Forbes magazine's annual Top 5 Wealthiest Hip-Hop Artists list and also spoke on the perception of record sales.
In regard to the Forbes list, Fif quickly shunned its relevance compared to the Fortune 500, which does an annual ranking of America's biggest corporations.
"The Forbes list is fine, but I'm still on the wrong list. I need to be on the [Fortune] 500, the company list without it actually being hip-hop. In order to do that, we gotta do business on a whole other levell," Fif said in an interview. "[Record sales?] I can be concerned about being relevant to the culture and recapturing the energy you had once upon a time, not an actual number. It's not even about the actual number on sales." (Shade 45)
The G-Unit rapper fell behind hip-hop elite like Diddy and Jay-Z on Forbes' list.
Dr. Dre ranks third with $270 million, doubling from a year ago thanks to a major sale. In August, handset maker HTC paid $300 million to buy a 51% stake in Beats Electronics, the company founded by Dr. Dre and Interscope chief Jimmy Iovine in 2008. Birdman clocks in at No. 4 with a fortune of $125 million. He cofounded Cash Money Records with brother Ronald "Slim" Williams two decades ago, inking very favorable $30 million distribution deal with Universal in 1998. Rounding out the Forbes Five is Curtis "50 Cent" Jackson at $110 million. The Queens-born rapper earned $100 million on the sale of his Vitaminwater stake in 2007--and tens of millions more from touring, record sales and clothing--but spent freely on cars and renovations to his mansion, formerly owned by Mike Tyson. (Forbes)
Following its public release, Forbes editor Zack O'Malley Greenburg discussed the science behind Diddy and Jay's placement.
"Number one is Diddy at $550 million. He's number one, far and away from everybody else because mainly of Ciroc," editor Zack O'Malley Greenburg said in an interview. "He's got this incredible deal backed by beverage giant Diageo. He gets a huge cut of profits and he's entitled to a split in profits of any sale of the brand. Second up we have Jay-Z. Jay-Z's one of the only artists whose making a lot of music actively. He released Watch the Throne last year -- so Jay-Z's right up there." (Forbes)
After getting named the first hip-hop artist to likely hit a billion bucks last year, Diddy downplayed the hype surrounding his buzz.
"To be honest, on that list, I was on the cover of Forbes back in '98," Diddy explained in an interview. "I been on that list. I don't really get caught up into the list. I think people think that I have that money actually sitting at home in the basement...It's really like if I sold all my companies, and I take pride in [building] something as a black man that's worth that much...To everyone calling me for a loan today, I do not have that money today! ... It helps inspire people and it shows the power of hip-hop." (MTV)
Check out 50 Cent's interview below: