In a recent article in the Telegraph rap star 50 Cent spoke out about the recession. To 50 Cent economy apparently means selling his "old diamonds" before buying something new. Not to criticize his strategy, clearly 50 Cent has more money than I do, but it seems that selling off old diamonds to buy new pieces is one of the most financially foolhardy ideas around. Resale on diamonds (large rare high carat stones excepted) is notoriously low. Even if he is essentially trading in his pieces with the same jeweler it is likely a losing game. He may be able to resell some pieces at a decent price because of his name but quickly turning over jewelry and constantly getting new pieces is not a way to accrue wealth.

He went on to say that anyone who didn't lose money in this recession "didn't have enough to start off with." He shrugged off his losses and believes he is still a savvy businessman who could even advise President Obama should he need it. Big words from a man who is still in the process of trying to sell one of the great white elephant pieces of Connecticut real estate, Mike Tyson's former mansion in Farmington, Connecticut. Tyson's mansion has been nothing but a headache for Fiddy. He bought the home for $4.1 million (Tyson's ex originally wanted $25 million) and spent $6 million renovating it. He has been trying to sell the home since 2007 when he wanted $18.5 million for the property and it is now listed at $10.9 million.

Love your reality/modeling/singing/(fill in your fave genre here) stars? Want to small as good as you imagine they do? Then get ready to head to the stores sometime soon for the newest celebrity fragrance, Bikini Babe, by Keeping Up with the Kardashians' resident celebutante, Kim Kardashian. Few details were available at press time, except for this and this.

Also, this just in: Although not a new designer in the scent world, Anna Sui will launch her newest fragrance, "Rock Me!" this fall. Read more here. The ads are photographed by Stephen Meisel.

NASCAR is getting an injection of style this season courtesy of luxury menswear line CAVI. The brand, known for its distinctive designs as worn by the likes of Jay-Z, Ne-Yo and 50 Cent, has partnered with up-and-coming NASCAR star Chase Austin, outfitting Austin and his pit crew with stylish custom uniforms and adorning his Xxxtreme Motorsport No. 7 racecar with the fashion line's logo (above). Austin and the car debuted the new look the other day at Macy's in Indianapolis. From its signature crest to bold colors and prints, tailored fit and innovative design, CAVI has "re-conceptualized the standard for contemporary sportswear, developing a lifestyle fashion brand that embraces both luxury lifestyle and reflects class."

It's been a big weekend for some of real estate's slow sellers. On Saturday we saw Nic Cage put his Bel-Air mansion on the market at a new lower price and now rapper 50 Cent is trying yet again to unload the pile of property in Farmington, Connecticut which he bought from Mike Tyson's ex-wife. Tyson's mansion has been nothing but a headache for Fiddy. He bought the home for $4.1 million (Tyson's ex originally wanted $25 million) and spent $6 million renovating it. He has been trying to sell the home since 2007 when he wanted $18.5 million for the property.

Earlier this year he settled a lawsuit against an engineering firm that he hired to inspect the 52-room home before he bought it. claiming they underestimated the value of the repairs needed. At that point the mansion, which was then listed at $14.5 million, was pulled off the market. But it's back up with a new listing agent and a new price of $10.9 million. The listing pics are similar to the ones we saw when we first had it as an estate of the day in 2007. Even with the new price he's going to have trouble getting rid of this home if only because not many buyers in the area will be looking for a home with a grotto and a nightclub.

[via NY Post]

Rapper 50 Cent is figuring out that Mike Tyson's Farmington, Connecticut mansion wasn't such a great purchase after all. The performer, whose real name is Curtis Jackson, recently testified in Hartford Superior Court as part of his lawsuit against BVH Integrated Services, an engineering firm that he hired to inspect the 52-room home before he bought it. The company was supposed to find out how much it would cost to repair the home.

Tyson's ex wife originally wanted $25 million but 50 Cent bought it for $4.1 million. The company's estimated that 50 Cent would have to spend around $500,000 in repairs but he ended up spending $6 million on repairs and renovations about half of which went to things which 50 Cent's lawyers say should have been included in the original estimate. BVH attorney Michael Byrne said that 50 Cent's lavish upgrades made the difference and that the estimators are not responsible for the difference.

The house may be huge but it isn't high quality according to witness testimony. A contractor hired by BVH to conduct the 2003 inspection testified that it was not a "mansion-quality" house. 50 Cent put the mansion up for sale in 2007 for $18.5 million and dropped the price down to $14.5 million but he said this week that the house is no longer for sale.

UPDATE: 50 Cent has settled the lawsuit for an undisclosed amount.

Formerly high-flying music producer Scott Storch (above with his Bugatti Veyron) has been charged with grand theft auto after failing to return his leased Bentley GT. Storch, who produced hits for the likes of 50 Cent and Beyoncé and partied with close pal Paris Hilton, has fallen on hard times recently and has seen his $10 million Miami mansion foreclosed on.

According to a copy of the a the police report obtained by MTV News, Storch began leasing a 2004 Bentley GT in February 2006 which was due to be returned last month. However, instead of handing over the pricey wheels Storch gave the Bentley to L'il Kim, TMZ reports. A repo company finally tracked the car down at Kim's place in New Jersey. Storch was released on bail after posting an undisclosed amount; according to some reports he is currently in rehab.

You've probably heard of Curtis & Co. watches. They've been seen on everyone from 50 Cent to Paris Hilton, to Stuart Scott on ESPN. They list famous wearers here, on their "Awristocrats" page.

Their collections all start with the words "Big Time," and include Air (in blue with black casing at right), Ice, Hers, and Limited Edition pieces like a gorgeous rectangular watch celebrating the new golden age of Dubai.

Are these watches "Big Time?" Yes. Each watch has a beautifully crafted face, multiple first-rate functions, and there is an extensive selection of straps in different colors and textures. Curtis & Co. makes exquisite and stylish watches for gifts or to be seen wearing.

Click here for retailers.

Forbes has just released its annual list of the world's highest-paid rappers, and Curtis "50 Cent" Jackson has catapulted to the #1 spot with $150 million in earnings over the past 12 months - more than double that of rival Jay-Z at No. 2.

When Forbes inaugurated the Hip-Hop's Cash Kings list last year, Jay-Z was firmly at the top. But 50 raked in over $100 million after taxes on a single deal earlier this year, the mag notes, when his stake in Glacéau (parent co. of VitaminWater) was bought by Coca-Cola as part of a $4.1 billion takeover.

This isn't to say that Jay-Z's doing badly; he recently signed a 10-year deal with concert promoter Live Nation worth $150 million. Meanwhile, Sean "Diddy" Combs and Kanye West clocked in at Nos. 3 and 4 with $35 million and $30 million respectively.

The Farmington, Connecticut home that 50 Cent bought from Mike Tyson has been on the market a while now. We covered it in May of this year but now 50 Cent is showing the property on a special edition of MTV's "Cribs" tonight. The AP reports that this is so "fans can take a peek before he moves out" I say that 50 is trying to drum up some interest in this clunker of a home which has sat on the market for $18.5 million.. Remember that Tyson had originally wanted $25 million for it but 50 Cent bought it from Tyson's ex-wife Monica for just $4.1 million. Yes, at around 48,000 square feet it is huge and it does have all sorts of fun details like a nightclub and a studio but who really needs a home like this? Perhaps someone who watches MTV?

We've seen in the past that 50 Cent has lavish tastes, whether it is his Connecticut mansion, his Manhattan office or his chromed-out Lamborghini. Now the rapper is set to spend a whole lot of money in one night just to honor his commitment to appear at two award shows on the same night. It has been reported that he will spend $2 million on a six-mile journey through London to perform at both the Vodafone Live Music Awards in West London and the MOBO Awards at the O2 Arena in Greenwich. For the events is said to have booked three helicopters, a fleet of SUVs and a team of ex-special forces so that he can get to the MOBO awards in time and have a little room to spare for relaxation.

UPDATE: Looks like 50 Cent has pulled out of the MOBO awards and is canceling a bunch of tour dates in Europe. Is he following through on his promise to retire if Kanye West bested him in the charts or just looking to s save some cash?

[Thanks, Zachary!]

I really don't understand the appeal of selling big name items online -- isn't eBay largely for bargain hunters? But obviously there are plenty of people who don't share my views, as demonstrated by how well this 2005 Lamborghini Murcielago, rumored to be owned by rapper 50 cent, is doing. The auction ends soon and as of writing this post there are 15 bidders and it's currently at $310,000. 50 isn't actually mentioned in the auction, but based on this YouTube video it sure looks like he's the mysterious "celebrity owner."


Via AutoBlog

We've seen 50 Cent's home in Farmington's Connecticut and while it is lavish the decor didn't impress. I might have to revise my opinion of his taste after a look at his Manhattan workspace. King Magazine checks out the plush pad which has a recording studio, G-Unit emblazoned pool table, leather-tufted walls and a weight room. The only off note is the all stainless rather institutional looking bathroom.

[via Nerd With Swag]

Today's estate in Farmington, Conn. is one of the legendary symbols of excess. Mike Tyson owned this home in the past but it currently belongs to 50 Cent, who bought it for just $4.1 million. Tyson's ex wife originally wanted $25 million and so the home was a bit of a discount considering that is has more than 50,000 square feet of space.

Fiddy is said to have spent a few million on the house but as the Real Estalker Mama mentions, it's hard to find it when looking at the photos of the place. It seems to be completely devoid of taste and personality. Sure it's got a disco the size of many homes but the overall effect is rather bland. The home has 19 bedrooms, four kitchens, a movie theater, full gym, five Jacuzzis and an indoor shooting range. The pool area is P.I.M.P. -worthy with an infinity pool and a Playboy Mansion-style grotto but the interior of the house seems to be decorated more like a businessman's hotel than a rapper's paradise. Sure the two-story lobby is lavish and there is a dining room with a Baccarat chandelier and a formal living room overlooking a one-acre koi pond, but overall, this place disappoints. It is listed at an ambitious $18.5 million. After the jump, I'm guessing the fountains are all Tyson's legacy.

UPDATE: This home is still on the market for $14.5 million.