50 Cent Uses Twitter To Make $8.7 Million In One Day

You guys may of already heard or seen this but I thought I would share it anyway just in case you didn't.

Rappers have been known to influence interest in fashion trends, alcohol brands, and luxury automobiles. This week hip-hop mogul 50 Cent added the stock exchange to the list.

In just one day, 50 Cent's promotion of the publicly traded H&H Imports, Inc. raised the company's stock price from .10 to .39 per share.

The G-Unit head urged his 3.8 million Twitter followers to invest in the company. "TVG's stock went from 5 cent to 10 in one day," 50 wrote about the subsidiary of H&H. "You can double your money right now. Just get what you can afford."

50's fans responded immediately, purchasing $50 million worth of the penny stocks. The New York rapper made $8.7 million from those exchanges.

Last October, 50 Cent received 30 million H&H shares in a private placement, the New York Post reported. Just days before encouraging his followers to purchase the stock, he premiered a joint effort with TV Goods, Inc., a set of headphones called Sleek By 50.

Using his influence to generate so much activity for a company in which he owned stock prompted some experts to speculate whether or not he may have violated insider trader laws.

Jonathan Macey, a professor of securities at Yale Law School, does not believe 50 Cent did anything wrong. "How can they call it a take if he didn't sell his stock?" Macey said in an interview with Esquire. "All he said was that it's a great company."

Let's hope Macey is right. But to be safe, 50 has since deleted from his Twitter page all of the messages.

Jay-Z, another one of hip-hop's most successful entrepreneurs, also revealed new business venture this week. The "Empire State Of Mind" rapper invested in Buffalo Boss, a chicken-wing restaurant co-owned by his cousin, Jamar White. Located in Brooklyn, the eatery specializes in the organic and spicy appetizers.

http://a323.yahoofs.com/ymg/vivanas...886368993-1294781259.jpg?ymL9lYEDToDf7h5mNews wasn't so good this week in several other music related news stories. After a six day pretrial hearing, a Los Angeles Superior judge has determined that Michael Jackson's cardiologist Conrad Murray will stand trial for involuntary manslaughter. Rockers Drowning Pool insisted upon clearing the air about their song "Bodies" and its connection to Arizona shooting suspect Jared Loughner who featured the track on his YouTube channel. The video used their song as the background music for an unpatriotic act. And the excitement over Britney Spear's return was nearly eclipsed by accusations that her new song borrowed, without permission, lyrics from a 1979 country song.

Wow. We must say, this is, hands down, the most impactful week in music all year. Let's hope new week will be able to live up to the hype. See you then.

Source:
http://new.music.yahoo.com/blogs/th...t-uses-twitter-to-make-87-million-in-one-day/

 

A good post, but unfortunately the kind of publicity someone like 50 Cent has, I'm sure not even a popular blogs like Mashable can catch up with even if they press hard so these figures can easily be expected from celebrities. I wouldn't be surprised if this figure increases.

 

I'm sure other celebs will try the same thing!

 

Not surprising that so many people acted on his tweets... God, I wish I had millions of Twitter followers so I could make $8.7million in just one day.

 

Interesting, I wish I have such number of follower, I will become a millionaire this year

 

I think this is illegal what he did, someone will press charges sooner or later

lol you cant just buy stocks and ask everyone else to buy too! illegal......

 

Now the question that a sane person asks here is who would seriously listen to 50c for freakin financial advice? Would you? I'm sure I wouldn't! Who's next, that Bieber chick?

 

There is only one person who can launch any type of legal investigation, and that is the SEC. And yes, you can ask people to buy your stock. He is making the information publicly known so that everyone has a fair chance of acting on his advice, so he did nothing illegal.

 

Does that mean that I would have to go public if I wanted to tell the same thing to my friend?

 

I'm not going to criticise him for doing this as it would only be through jeolousy, sure I would do it if I could!

 

I'm not all that surprised, with all the fame he has of course he can make this much money in one day, other celebrities will do the same or in the past have done something like that.

 

hmmm.. i am interested..

 

That's the beauty of having millions of followers and fans, a bit different if your just an average joe with a few hundred followers

 

It's sad how loosers like 50C cand influence other morrions like those 3.8 milion followers

Sometime business can be so phatetic ...

 

That was my first thought. I've done a google search and couldn't find anything more up to date about this story - I guess he's getting away with it?

 

That is awesome! One day that could be me... lol. Must be cool to get that much just by tweeting huh?

 

I wish I have such number of follower, I will become a millionaire this year

 

You don't have to be a rap fan to realize that guys like 50 Cent, Jay-Z, and several others know how to make money. You don't make it to the top by not knowing how to invest and spend. If I could make even a tenth of what 50 Cent made in a day I would be a very, very happy man.

 

From 50 cents to 8.7 million...

 

Thats something interesting that twitter can generate such a huge traffic n can make some one millionare....gud news...