50 CENT Says He Lost MILLIONS Buying Mike Tyson’s Old House
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Жыл бұрынFull Article: hiphopdx.com/news/50-cent-los...
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#50CENT
@silvercat6425 Жыл бұрын
He didn't lose he gained a lesson and he gave the money to his charity that helped many people..I would say he won and he's winning more from what he called A lose.....give back is a blessing
@GT95_302 Жыл бұрын
“If you don’t spend it, the IRS is going to take it.” That’s messed up.
@rustyjames5000 Жыл бұрын
IRS makes you a humanitarian. Spend on yourself, give back to your fellow man, or we take it and do what we what.
@candylicious3024 Жыл бұрын
That’s a fact
@trickstergogo4693 2 ай бұрын
It might be that you are not an american or just a kid. It is a known fact the more you hoard money the more IRS is going to have a share of that cake.
@deborahgaston7383 Жыл бұрын
Living in CT, we went to a party there years ago when thing were popping. Absolutely beautiful home!! I told my girls everyone sticks together so no one gets lost, the place was ginormous! The party was awesome!💯
@Saluteme10288 Жыл бұрын
50 cent turning the sale of the mansion into a tax right off was pretty smart
@ShortyMcvay517 Жыл бұрын
He bought it so he wouldn't have to pay so much in taxes that year. I remember him saying it in an interview back in the day.
@user-nt3sj5tv3o Жыл бұрын
Same reason he "donated" the money through his own charity, skip out on taxes and still get the money. He definitely has a good financial advisor.
@ShortyMcvay517 Жыл бұрын
@@user-nt3sj5tv3o facts 💯🤘👍
@Trav81888 Жыл бұрын
Donated the sale money to charity. Fif is a legend!
@Trav81888 Жыл бұрын
@Aroldis Xanman which gave grants to non-profits. do your homework before you comment
@small3687 Жыл бұрын
@@Trav81888 it's still a scam to donate money to your own charity. There needs to be a law against it.
@blayzej Жыл бұрын
@@small3687 it’s still legal and did allow for charity works, 50 just used what politicians made policy, write to your elected rep to change it, good luck on that though, they’re all in on that one loophole
@jasonwright9076 Жыл бұрын
@Aroldis Xanman Rather it go people who need it rather than the government who do nothing but waste money
@cokelife5831 Жыл бұрын
@@jasonwright9076 exactly
@ghostbalo Жыл бұрын
He spent 15 mill in 14 years owning that place. Madness
@BrendoDynomite Жыл бұрын
That house sold for 2.9 million? My next door neighbor in Toronto sold for 2 million and its just a regular house!!! Crazy
@jarespeoples554 Жыл бұрын
Dang all that for 2.9 million!
@HippyHouse Жыл бұрын
Location Location LOCATION
@jarespeoples554 Жыл бұрын
@@HippyHouse yeah you right
@MarcinMoka1 Жыл бұрын
😂😂😂😂. That’s why I had to move to the affordable French Riviera in a beautiful waterfront apartment for the same price as a soiled mattress inside an Etobicoke crackhouse…
@whallievdwesthuizen4883 Жыл бұрын
Time's change my boy 😂
@blayzej Жыл бұрын
Yup, that was not a wise investment for him or Mike… but when you come from poverty and barely 20 y.o. it’s damn near impossible to see clearly through all that with a bunch of legal, real estate advisors swarming around for their cut…
@reason2look Жыл бұрын
The upkeep is really why it was a bad investment. 3 mill for that isn't too much. But 700k in over 14 years add up real fast.
@tooakki Жыл бұрын
Yep
@abrakadabra9033 Жыл бұрын
He never in Connecticut that's why
@RealAdrianReactions Жыл бұрын
He used to throw big parties there I know a few people who went to them his old house is in CT not too far from where I live now
@qp4367 Жыл бұрын
Bristol. Stand UP!
@RealAdrianReactions Жыл бұрын
@@qp4367 ayeeee 🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾
@qp4367 Жыл бұрын
@@RealAdrianReactions 💯
@travelandeats8518 Жыл бұрын
Hartford here
@dionkelly8420 Жыл бұрын
50 CENT did a few of his music videos at the house, and Mike Tyson did an interview there with ABC when he lived there. I'm wondering how you manage not to get lost in a house that big? It's crazy waking up and not knowing somebody is still there. I'm surprised 50 never accidentally shot one of his friends in that house. Rick Ross probably has the same problem now since he bought Evander Holyfield's old house, which is much much bigger with 109 rooms.
@AA-ji2my Жыл бұрын
He has security it’s crazy security motion sensors all that ppl have tried to kill 50 so he got A1 security
@chi-tahned8689 11 ай бұрын
Tony yayo said that 😂😂
@Kenzo8110 3 ай бұрын
Nobody needs 21 bedrooms
@andrewmacdaniels212 Жыл бұрын
Damn you gotta spend your money or else the IRS will take it. Because no one owns their money, you're only allowed to keep it for a while, and then circulate it to someone else, and the cycle continues. That's why destroying money is illegal.
@aljazzi8387 Жыл бұрын
U live and u learn
@johnfbaker80 Жыл бұрын
Learn what? 🤔 How to leverage your "massive" income early on in his career...😄
@cleajohnson3854 5 ай бұрын
❤50
@Healthy424 Жыл бұрын
Could have brought an entire apartment complex, hotels, another house and rented them out. Or been smart bought land an invested in a company to build houses on the land and sold them with the type of money 50 cent has/spent on Tyson’s cribs.
@AA-ji2my Жыл бұрын
You know his rich lol
@TheFadewolf Жыл бұрын
He was about 25 when he got that house
@mrmacho41 Жыл бұрын
You live and you learn. I've learned a crap ton about how to think about money and finances from 50's books and Jay-Z's music.
@zadekeys2194 Жыл бұрын
Wonder what it cost Mike to build ? 50 should've bought 2x $2mil properties, lived in 1 and rented the other out to cover any interest / monthly home maint for both properties (ideally).
@blayzej Жыл бұрын
Exactly, but few of us know or have the wisdom to make those investments in our early 20s, hopefully the new gen learns from this, although judging by what we see, not sure they do
@zadekeys2194 Жыл бұрын
@@blayzej I think it's the school systems fault. They'll teach you how to have sex, but not how to build a solid foundation (finally etc) before you have a child... With the $ 50c had, I'm sure he couldn't bought such advice :)
@blayzej Жыл бұрын
@@zadekeys2194 Good point, school will teach you all types of stuff children don't need to know but next to nothing about personal finances
@edwinrodeo Жыл бұрын
Original owner was Ben Sisti. , owner of Colonial Realtor. Convicted of fraud , bilked millions from investors.
@AA-ji2my Жыл бұрын
Dude he is not going to rent out property as a celebrity that’s huge liability cuz they can sure your ass for bullshit…. You need to learn if your rapper you can’t be doing investments like that not everything is perfection etc
@martyme6793 Жыл бұрын
600k on upkeep each year wtf how
@iamtiger.i Жыл бұрын
700K*
@Xilent1 Жыл бұрын
$4.1m isn't that bad for that kind of house. Sold for about 3 was a lose and of course $700k maintenance is huge loss. 6 months you're past the amount of the house.
@sincityquinn Жыл бұрын
6 years. He wasn’t paying 700k a month.
@fonzarellyplay370 5 ай бұрын
@@sincityquinnyes so every 2 months it would be over a million dollars just in upkeep.
@Aarah_ylp Ай бұрын
@@fonzarellyplay370what do you not understand.🤦🏻♂️
@christopherstewart9556 Жыл бұрын
We live and learn!
@xMyAmBiTiOnz Жыл бұрын
woman - “it had 21 bedrooms” 50 - “it had 18 bedrooms”
@thabomolautsi Жыл бұрын
Discrepancy 😅😅
@ENIGIZERb 29 күн бұрын
I remember when he bought that house. I had no idea he was buying it to live in. I thought he was buying it to lease out to big wigs, other rappers, and super wealthy celebs for huge parties, honeymoons, and other ventures. I thought maybe it would turn out to be a cash cow. I never thought he would live in it. Maybe he would have been better of leasing off a part of it or at least the grounds. Too much property for a single man.
@Colormetat 4 ай бұрын
I would have used that estate as a venue for corporate parties, retreats, and weddings. In addition to hiring a property management company, I would have included in the contract that clients would need to have liability insurance if party size is over 50 guests. I’d also provide additional services at an additional cost-like catering, cleaning, event marketing, planning, photography and etc. Essentially, that property would have been my business space.
@BeastSpedUP Жыл бұрын
He got that back long time ago
@johnfbaker80 Жыл бұрын
Helluva "tax" write ✍️ off ... Kudos to fifty "especially" when he got back home from touring with 38 MILLION 😳 dollars in his bank account....👍🤓
@nerdperception3851 11 ай бұрын
I would of turned it into a hotel 🏨🏨🏨 and made money on the property just filled it with Tyson's memorabilia and 50 cents
@Winterov Ай бұрын
I cant believe it only sold for 2.9. Even the original price if 4.1 seems cheap for a property like that. There are apartments here in london that cost that much!
@travelandeats8518 Жыл бұрын
He lived like 10 minutes drive away from my cribo. 10 minutes from the hood
@iamjshep3 Жыл бұрын
Bruh spent 9.8 million on upkeep charges yearly. That’s wild.
@HeatherWho11.10 Жыл бұрын
Only 4 mil for a house that massive is INSANE
@brandonwelch2729 Жыл бұрын
$4,100,000.00 purchase price. $9,800,000.00 million in 14 years of maintenance/upkeep. (50 Cent) had spent $13,900,000.00 on this asset (50 Cent) tried to make $5million and list it for $18,500,000.00 couldn't find a buyer and sold it for $2,900,000.00 a loss of $11,000,000.00. HE made $38million on his tour, IRS got half leaving him with $19million, plus 30% $5.3million to his agents/management team and this house cost him $13.9million leaving him with $-200,000.00 No wonder he regret's this purchase in the end he was in debt and owed $200k.
@oluyemiogun596 Жыл бұрын
He should have converted it into a hotel
@bern9642 Жыл бұрын
Location was not good
@bbsara0146 5 ай бұрын
there is a difference between buying a mansion and a mansion so big even normal rich people dont want it... 50 bought the latter. There are plenty of mansions with a nice layout that are smaller that look luxury and impressive, but you can actually re-sell.
@Mohamedasdfgpo Жыл бұрын
Yes but people don’t know he filed all of this under losses to avoid tax…
@TruthB7Told Жыл бұрын
Good! Everyone with money makes Bad decisions when investing sometimes! The up keep and monthly maintenance alone cost him over $100k each month. The question is, did 50 learn anything from this.
@terrydabill283 5 ай бұрын
That was some house that just stunningly beautiful..someone got a great bargain for $2.9 m
@MichelleBertsch Жыл бұрын
Call me crazy but compared to homes in LA, what he got vs what you get in California, no comparison. I understand the market but in no way can you get all that house in LA for 4 million.
@Jose951Sanchez 3 ай бұрын
9.8m in 14 yrs upkeep, bills, maintenance, repairs, workers.. 4.1 purchased And 2.9 sold Yeah that one was costly lesson even for a millionaire losing 700k per yr, But got Ten(10) times the amount in music sales, royalties, product, merch per yr I bet.. Didn't feel no sting
@TheOrangePatriot Жыл бұрын
buying them mega mansions is just dumb. if you got that kind of money , you would want your own costume mega mansion
@triplebeans4159 Жыл бұрын
They buy them to reduce their taxable amount by recording it as an expense.
@rareruntz3417 5 ай бұрын
Didn’t even know Farmington had house like that
@derekyoung4637 Жыл бұрын
Daaaaaamn bro who ever copped that house got a flip of a LIFETIME.if it was 18mil once just hold it and it'll be that much again
@rustyshacklefurd7373 Жыл бұрын
A house like that is a money pit. While you're "holding it", the house is costing you taxes, upkeep, mortgage payments, and taxes.
@derekyoung4637 Жыл бұрын
@Rusty Shacklefurd yes I totally agreed with that.BUT if you can air bnb it for 100k/wknd you should offset it alittle until someone buys it.😂😂😂😂
@eldeanivri Жыл бұрын
@@derekyoung4637 how many people are there to consistently drop $100K per weekend for years?! 🤔😆
@derekyoung4637 Жыл бұрын
@@eldeanivri Sarcasm
@michaelbraum77 Жыл бұрын
Has his own charity and donated the $2.9 mill to it?!!! Yet another reason to love and respect the man known as Curtis "50 Cent" Jackson. Mote stars need to take notes!!! Can't wait for 50s upcoming last album! And the 8 Mile series! 16 books, 5 or 6 tv series, with 3 more to come, and 2 diamond albums,once the RIAA finally certifies them. Man is killing it!
@ahmedmahmud7842 Жыл бұрын
Calm down.. his first 2 albums were good.. the others, trash
@ScoobaSteveNC 10 ай бұрын
Now it is mike Tyson and 50 Cents old House
@big_brayo Жыл бұрын
Donated to his charity😅😅😅
@mikewilkins2030 Жыл бұрын
Rich ppl know how to keep their money! Lol 38 mill in the bank will get any smart Jew lawyer come running! Lol
@TALLXXL Жыл бұрын
AVOIDED PAYING TAXES ON IT
@small3687 Жыл бұрын
@@mikewilkins2030 man racists be in every single comment section.
@fulljuggaloalbumz2691 Жыл бұрын
@@TALLXXL get tax return for giving house to charity
@lorenzohunter6658 Жыл бұрын
Some of these people don't care I hear some of them making fun of the disabled 🤦!
@jean_carlos_shells Жыл бұрын
He’s smart
@darnelldarden9429 Жыл бұрын
52 Rooms is just excessive, I don’t care who you are and how much money you have. And he was on the road all the time so he didn’t even spend much time there
@cfairfax85 8 ай бұрын
Couldnt blame him for the original purchase. No one saw the housing market going under at the time. $4 mill je paid for a $14 mill house. He wouldve profited had the market not gone down.
@xMyAmBiTiOnz Жыл бұрын
i mean im sure people like diddy kanye jay z and drake have houses like this. i think even cardi posted on her ig buying some crazy mansion like this. i wouldnt call it a stupid investment if u can afford it.
@georgeperez-stillwagon6458 Жыл бұрын
First , 50 cent showed more respect compared to the interviewer who is cursing.
@zadekeys2194 Жыл бұрын
That house must've used soooooo much elec....
@southindie999 Жыл бұрын
That mansion should be named the "Tyson Crib"
@PRAYIMAKET Жыл бұрын
Well let me tell you guys something here in New Zealand you can get a single bed room for 500k
@jameson6537 Жыл бұрын
These numbers being so low on this home especially in Connecticut make no sense.
@robertwinston8974 Жыл бұрын
I don't know why my Tyson did not make that house into a tourist attraction have wedding events their family reunions and everything he could have made his money back using as a minute hotel you can have your guests sleepover go to the party and do everything right there on what property uses for Union
@earlpulley7042 Жыл бұрын
When you don't know you don't know....Now you know like Evander Holyfield who bought a sprawling mansion with a bowling alley coupled with a $40k per month electric bill which didn't include the cost of the remainder of the maintenance expenses
@logosg Жыл бұрын
Yep. Rick Ross followed the model and bought it
@soulbesearching Жыл бұрын
This happens to most rich people that's why they still be having to do movies and stuff they can't just chill and let life happen they got to make more s*** so they got to keep doing shits Being in the streets etc. I just think about all of the people who died last year. you know if they could just chill maybe they'd still be alive. this part has nothing to do with 50 cent.
@aleiterful Жыл бұрын
Lost millions…. But wrote it off when he donated it lol
@marcrobinson4872 Жыл бұрын
2.1 total for upkeep
@consuelamosley8249 Жыл бұрын
No one told him to buy it! He said he bought to get IRS off his back!! He wasn’t force to buy it. He only forced himself to buy it!!
@tyeel123 Жыл бұрын
"Never the king of NY you live in Conneticut" -Jadakiss.
@CP4Z167 2 ай бұрын
He should be ok, he made so much money during his heyday, also a lot of it could have been written off
@bonganibanda8588 Жыл бұрын
🙂
@chuckkiephan6880 Жыл бұрын
Party play house you probably get sick of the house in a couple of years after you had some fun first
@mindmoney2899 Жыл бұрын
G-unit charity never heard of and probably that he took back the money and put it in the left Pocket 😂😂😂.
@WaynesWorld-wk4pz 7 ай бұрын
The house was owned by evander holyfield not tyson
@WaffleCone927 Жыл бұрын
No sht. To many rooms lmao
@Jojo-lz3yn 8 ай бұрын
He wrote it off through the charity
@kevinsibiya Жыл бұрын
It was worth it
@Adison1993 11 күн бұрын
In my opinion that buy this house is a big problem 50 pay big money maybe no the alternative correct.
@mattjones8755 Жыл бұрын
50 cent smart he got rid of that man pit but he's still so wealthy he owned it for 14 years never a to do partys and car shows like officer Ricky
@qp4367 Жыл бұрын
1. where is this 2 bed 800 qpts he claims to have had 2. 50 is an international super duper star, to this day I wonder our the house isn't his speed? He has even more money in his account? Unless it was the money pit aspect coupled with the fact personalitywise he;s actually a really private person who;s and entertainer but not into entertaining
@iamtiger.i Жыл бұрын
I'd have turned that mansion into a damn plaza, or a media house, or some kind of company HQ or something 🤣🤣 damn . That whole property is super expensive, so I'd find a way to turn it into an asset .
@multidinero Жыл бұрын
Sometimes a house is just that. Though you have acres of land, depending on the designation it’s listed under (preserved or limited building), you could do nothing else with it but live in the house. Connecticut isn’t exactly easy to get to for the average person either. Then if the upkeep of the house and property was $700k per year and no one wanted to buy it? It was more than he would ever truly need. The wealthy live in excess, but sometimes it’s just too much.
@small3687 Жыл бұрын
That's a bad location for it though.
@diambo4life Жыл бұрын
Nah...this is America, you just don't get to do anything with your property. You get to deal with neighbors and local government....
@guestofearth Жыл бұрын
Zoning laws brother
@LuhNoSho Жыл бұрын
He bought the guy who was friends with the shooter who almost killed him that hurts 😂
@derekblasingame7145 11 ай бұрын
Bought it out of spite
@kevinjean3181 Жыл бұрын
Yep. If you don't spend some of it the IRS coming to get you
@kipliethurlow9091 2 ай бұрын
I heard it was to b Senior housing !! What happened ?? Perfect for us oldsters 😊❤❤❤ what ????
@williamfrazer9766 Жыл бұрын
I don’t see how he lost money on this property with the shark tank mind not adding up , facts !
@stephanieavery8045 Жыл бұрын
That's the way money is or the Sin of money. Something you win money, Something you lose money, and Something you forget about the sin of money. And Something it comes back to you. But it kept you out of the Sin of Money. But your loss helped somebody* You made a sacrifice *
@iamhimiamwhoiam7558 Жыл бұрын
He just took that 2 mill and gave if to charity
@Shmyrk Жыл бұрын
His own charity lol wtf is that
@larrybrown8483 Жыл бұрын
Should of turned the house in the foundation grounds n possible tax write offs
@fatburga Жыл бұрын
Tax write off
@bestbehaviour_4uforya Жыл бұрын
I have learned a lot of from them 🎓glad that I invested *9.99
@marcrobinson4872 Жыл бұрын
DAM LEFT 50 W ONLY 900, LEFT DEFINITELY WAS A REGRET
@Sovnarkom 7 ай бұрын
He bought that house to get a truce with Mike.
@Geronimoosceolamaccabeas Жыл бұрын
Man I would have upkept it for 50 for 200k a year
@Dom21221 Жыл бұрын
He sold it for 2.9m? Wtf why so cheap? No one wants to live there or what?
@martinezandy15 Жыл бұрын
Bcuz of the maintenance and taxes
@999WRLDGAMING. Жыл бұрын
I've nevr heard anyone say let's go to Connecticut lol
@realniga3012 Жыл бұрын
@@999WRLDGAMING. only thing I can think that can make somewhere live there is if they want to be close to nyc cuz they from there but the east coast period ain’t for famous ppl
@999WRLDGAMING. Жыл бұрын
@@realniga3012 I agree with you
@johnnieepps9039 Жыл бұрын
Hell I heard Tyson paid 32Mill for it 🤷🏽♂️
@speedsterautowerks1222 Жыл бұрын
Dude how does that house go for so cheap
@wowcarter15 Жыл бұрын
Noone wanna maintain that
@trashbat7331 Жыл бұрын
He sold it a while ago. It's probably worth a lot more now.
@iamtiger.i Жыл бұрын
It's fiscal value and it's actual worth are two different things 😅
@qp4367 Жыл бұрын
It was his reputation at the time, he was still beefing with various rap artists non stop on tv etc.The state made him look bad on purpose. NOW If had continued to hold and maintain this asset until he reached his more mainstream commercial status he currentlu enjoys as a multi media mogul, with the various industry writing credits on STARZ and ABC and how he kinda shed the strictly rap persona he could have easily well MORE easily been able to break even if not sell at a profit. Real Estate is one of a handful of appreciating assets. The market fluxuated too. It could have worked out for him.
@triplebeans4159 Жыл бұрын
It's not cheap if you're paying 700k in maintenance regularly.
@empressmarie4027 Жыл бұрын
Duhhhh anything in Connecticut Is a waste
@Oncopoda Жыл бұрын
Damn don't do us dirty like that. 😭
@qp4367 Жыл бұрын
How do you figure? We have one of the largest concentrations of High Net Worth Indvidual's in the entire nation. The CT Gold coast probably has more hedge funds and private equity capitalist than NYC and Boston combined
@DavidLee-vp3nr Жыл бұрын
@@qp4367 your point who the fuck wants to live in Connecticut?
@tib1632 Жыл бұрын
Should’ve sold it to Nick Cannon all them damn kids.
@deanbrooks3704 Жыл бұрын
4 million is reasonable they must have lowered the price to accommodate for the upkeep expenses. Other wise it would have been 20 million
@rhondajames9108 11 ай бұрын
It would be wonderful to be able to buy this home and turn it into a woman's Center for Abused women
@BoydCasinos Жыл бұрын
I put an bid in at 2 million he declined
@kridreklaw 4 ай бұрын
Dumb money
@sincerejones3577 Жыл бұрын
Drake got that house now. 🦉
@The_Candyman86 Ай бұрын
Ugly house. So plain for a millionaire . My houses in florida and bel air are 10 times better
@terryporter7433 Жыл бұрын
Rick Ross bought Evander Holyfield house, which is paid for! Holyfield beat Tyson twice so Rick Ross still winning lol 🤔
@thegod625 Ай бұрын
50 cent is only worth 40 million so no he couldn't afford the up keep on that massive house lol... Rick Ross is worth $150 million and has a bigger house and more land so he can afford it...
@IceCassidy 8 ай бұрын
Big boy talks too much
@stevens5541 Жыл бұрын
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