Rapper 50 Cent hit by financial crisisDecember 2nd, 2008 - 10:47 pm ICT by IANS
London, Dec 2 (IANS) The current global economic downturn has caused major financial losses to rapper 50 Cent.The hip-hop star’s new album, “Before I Self-Destruct” was slated to hit stores in the US Dec 9. But he was forced to postpone the release until early 2009, because of fears that struggling music fans will be reluctant to splash out on CDs, reports contactmusic.com.
The star admits the credit crunch has also begun to affect his investments and he has lost “millions of dollars” in decreasing stock values.
“Pushing (the album) back was to position myself a little better. I’ve lost a couple of million dollars already. I sit with my investors and business managers and accountants, looking at the numbers and I’m like, ‘Yo, the values of stocks in different areas are decreasing’,” he said.