50 Cent has had a lot of wins, but with those wins also came losses, including the time he once purchased Mike Tyson’s home.
Per Insider, the rapper put down $4.1 million in 2003 to buy the 50,000-square-foot mansion located in Farmington, CT.
The purchase set the local record for the most expensive home sold.
In an interview, 50 Cent revealed he had $38 million positioned in his account following his “Rock The Mic Tour,” and the purchase served as a tax benefit.
“If you don’t spend it, you know the IRS is gonna take it,” he told Brian J. Roberts in a 2021 interview. “I needed the expenses, so I ended up buying Mike Tyson’s home in Farmington and stuff like that. I was adjusting to it.”
The home, which he owned for over a decade, featured 25 bedrooms, 19 bathrooms, a nightclub, conference room, recording studio, an indoor pool and hot tub, two basketball courts, among other commodities.
During an interview on “Big Boy’s Neighborhood,” he revealed how much he spent to upkeep the property during that time.
“I had it for 14 years, the upkeep was about $700,00 a year,” 50 Cent explained.
Additionally, Forbes reports that 50 Cent invested roughly $6 million renovating it.
50 Cent would later attempt to sell the home, placing it on and off the market over the course of 12 years, Forbes also reports.
Throughout that time, he filed for Chapter 11 bankruptcy.
As AfroTech previously mentioned, the “Get Rich or Die Tryin” rapper filed to reorganize his business assets shortly after putting money toward real estate, cars, and lawsuits.
It wasn’t until 2019 that 50 Cent was able to sell the home. He lost a significant portion of his initial $4.1 million investment as the home sold for $2.9 million, which was 84% less than his initial asking price, according to Wall Street Journal.
When asked what his “biggest waste of money” was on “Big Boy’s Neighborhood,” 50 Cent responded, “The Tyson crib was like that.”
However, in the end, it may not have been a complete waste.
Per TMZ, the money he pocketed was donated to his G-Unity Foundation.