G-Unit head 50 Cent has done a remarkable job keeping his name out of tax-related headlines and recently admitted how he keeps a smile on his face despite having to pay buckets of money to the government.
Simply put, Fif makes sure to spend some money on his lifestyle purchases knowing there’s always a significant portion of his salary going toward taxes.
These days, Jackson isn’t worried about drug dealers and gangsters. It’s the taxman who merits concern. “If you’re familiar with my man Uncle Sam, you understand the only way you can actually feel better about what he’s gonna take, come the end of the year, is lifestyle,” says Jackson. “Only thing you can do is spend some of it.” (Forbes Life)
Fif’s one-time rap foe Fat Joe recently admitted taxes may place him behind bars.
“I can’t really explain that ’cause I got a real court case going on, like facing jail time. But I guess after June 24. Hopefully, it goes well,” Joe said on Wednesday (May 22) on “RapFix Live.” You gotta understand we hire guys who are supposed have Harvard degrees to take care of us,” he began to explain. “All the time you see artists, the first thing they did to you when you caught money was introduce you to a bunch of fancy guys with bow ties who are gonna take care of your money and all that and then you always see an artist or a celebrity or somebody like that goin’ down for it and these guys never go down for it.” (MTV)
The rap star’s current hip-hop nemesis just returned home after doing time for a tax-related crime.
UPDATE: 1:59 AM PT — Ja’s spokesperson, Melanie A. Bonvicino, tells TMZ … “My client Jeffrey Atkins (aka Ja Rule) was released this morning from the Raybrook Correctional Facility in Upstate New York to serve out his federal time obligation due under the terms set forth in accordance with home confinement which were secured by his attorney Stacy Richman.” “At present, he looks forward to spending some time with his family while he completes his memoir.” (TMZ)
Back in March, 50 landed on Forbes’ “Hip-Hop’s Wealthiest Artists” list.
1: Diddy, $580 M 2: Jay-Z $475M 3: Dr Dre $350M 4: Birdman $150M 5: 50 Cent $125M Birdman: The New Orleans native cofounded Cash Money Records two decades ago with his brother Ronald “Slim” Williams (Birdman’s net worth would be well over $200 million if his ownership in the label wasn’t shared). 50 Cent: Now he’s trying to replicate the latter feat with companies like SMS Audio, his answer to Dr. Dre’s Beats, and SK Energy, which has its sights set on category leader 5-Hour Energy. (Forbes)