50 Cent Did Not Make $400M From Vitamin Water Sale
A few days ago a couple of news sources reported that Curtis "50 Cent" Jackson is set to make $400 million off the sale of Vitamin Water to Coca Cola. According to the reports, 50's windfall is a result of him owning 10% of Energy Brands, Inc - the parent company to the popular beverage Vitamin Water. Well MediaTakeOut.com has learned that those reports are complete fiction.
In an exclusive interview, MediaTakeOut.com spoke with an investment banker familiar with the proposed Energy Brands acquisition. And according to the banker, 50's equity interest in the beverage company is far less than 10%. The banker explains, "50 Cent has a licensing agreement with Energy Brands which pays him a set fee and gives him a percentage of the sales from Formula 50 [The flavor specifically designed by 50]. He does not own a significant interest in the company ... The 10% number you hear is pure fiction."
But don't feel too sorry for the multi-platinum selling rapper. According to the banker, 50 Cent's current deal with Energy Brands is worth many millions of dollars. Tells the Wall St. whiz, "[Energy Brands] has a number of celebrities who endorse their products, including Brain Urlacher, Shaquille O'Neill, and Allen Iverson. But the endorsement deal with 50 Cent is, by far, the most substantial."
Energy Brands was founded in 1996. Since then it's become the market leader in the enhanced water arena.