50 Cent's High Dollar Tweets

Rapper, entrepreneur -- and hustler? 50 Cent is coming under criticism for encouraging Twitter followers to invest in stocks that ultimately made him over $8 million in one weekend.

50 Cent

50 Cent made $8.7 million in one weekend, thanks to Twitter. The NY Post reports that the rapper and Vitamin Water entrepreneur tweeted to his followers (all 3.8 million of them) to invest in H&H imports, which is a stock he just happens to own 30 million shares in.

The company is $3.3 million in debt and also is selling 50 Cent's line of sunglasses, called Sleek By 50. The rapper reportedly tweeted, "HNHI is the stock symbol for TVG sleek by 50 is one of the 15 products this year. If you get in technically I work for you. BIG MONEY."

50 Cent continued with a series of tweets, reading:

"Ok ok ok my friends just told me stop tweeting about HNHI so we can get all the money. Hahaha check it out it's the real deal."

"HNHI is the stock symbol for TVG there launching 15 different products. They are no joke get in now."

"You can double your money right now. Just get what you can afford."

All tweets have since been removed from his page.

The rapper backed off yesterday, tweeting, "HNHI is the right investment for me it may or may not be right for u! Do ur homework."

The stock started at $0.10 before his tweeting, and ended at $0.41 this morning, earning 50 Cent a cool $8.7 million.

What do you think about 50 Cent? Is he an entrepreneur -- or a hustler?

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Comments

Comments on "50 Cent makes 8 million selling stock on Twitter"

Joe January 13, 2011 | 10:48 AM

Classic pump and dump and lack of fair disclosure that he had financial ties. Good to see that fans are interested in investing: they should follow investing's number one rule and do their own due diligence, then invest with a fiduciary. The fact that 50 did this, either naively or calculatingly, should have sent sirens off in fans' minds. I'm sure we'll hear from the SEC on this one. I admire that 50 is thinking like an entrepreneur, but based on the negative worth of the company prior to his pump up, some of that natural-born hustle found its way into his Tweets. 50: stick with music and Chelsea Lately lol.

sandiamond January 12, 2011 | 5:27 AM

wanta be sec guy! lol not likely this will go much further unless shareholders send in complaints to the sec. The stock is up so why should they?

Alexz January 12, 2011 | 3:55 AM

Well, if people are dumb enough to buy stocks based on a tweet then they deserve everything that is coming to them. They should have done their research before investing. Nobody should buy stocks because 50 Cent told them too. NOBODY!!!

SEC Agent January 11, 2011 | 8:43 PM

This is most definitely illegal he will face forfeitures of most gains, face class action, most likely bankrupt the IPO and possibly face indictments. The only think he has gained and will keep is this publicity be it negative or otherwise.

TeeRollDice January 11, 2011 | 4:06 PM

This appears to be some sort of hip-hop version of the tried and true "pump and dump" securities scam. It appears that Mr Cent did not disclose that he held 30 million shares of HNHI at a price of 2.5 Cent per share ($750K value) before he promoted it via Twitter. If he sold any of those shares after the tweets (now valued at $9million - or 900,000,000 Cent), he will most likely get a visit from ane SEC agent. This is why Mr Cent most likely removed all tweets mentioning investments HNHI. His attorney probably told him to do so. Street smarts do not always translate to Wall Street smarts... Peace

Derk January 11, 2011 | 2:59 PM

I'm surprised that his fans had $8.7 M collectively.

Joedy Smith January 11, 2011 | 2:40 PM

Actually the word hustler that the writer is attempting to imply as being a label for someone who cons and takes advantage of people, is actually a slang word for entrepreneur. It's been used by many and will always be used by those who are not so sensitive and lacking in understanding. This is the ingredients of prejudice, lack of understanding and a little dash of misinformation Kim.

MARK January 11, 2011 | 2:20 PM

GET EM BOY!!!!!!!!!! LOL THATS A HUSTLER.

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