Wednesday, January 26, 2011

Could 50 Cent’s Twitter Exploits Land Him in Jail?

by Dr. Boyce Watkins, Syracuse UniversityScholarship in Action 

The rapper 50 Cent is known as much for his creative PR and business tactics as he is for the rhymes he once busted on the airwaves. Well, I guess he is still technically a rapper, but the music side of 50 Cent’s career doesn’t seem to be taking off like it did at the start of the decade.

Since his last hit record, 50 Cent has been involved in a series of business ventures that seem to pay him better than he was ever paid as an artist. The problem for Fifty is that he might be in trouble with theSecurities and Exchange Commission (SEC) for using his power tohaul in $8.7 million by pushing a stock on his Twitter page.

50 Cent has 3.8 million Twitter followers who apparently respect him for his investment advice. The rapper tapped into his massive market power by telling all of his followers about a stock that he owns called H&H Imports. In fact, 50 Cent owns quite a bit of the stock after acquiring 30 million shares in a private placement last October.

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