50 Cent has revealed Mike Tyson’s house is his most lavish purchase and opened up about the loss he made on the property.
As a businessman, Fiddy has a pretty flawless record, and his wins far outweigh his losses. However, occasionally, there have been mistakes made on the way, including Mike Tyson’s mansion. Not only did it cost Curtis Jackson millions to purchase the property, but the annual upkeep also hurt his pocket.
In an interview with Big Boy’s Neighborhood, Jackson looked back upon buying the 52-room palace in Connecticut in 2003. He revealed: “The Tyson crib was like that, that was definitely it. I paid $4.1 [million] and I sold it for $3 [million].” He added, “I had it for 14 years, the upkeep was about $700,00 a year.”
However, on the bright side, because the property was so large, there was room for Jackson to have his own area while his G-Unit entourage also stayed at the property.
The rapper has discussed the Mike Tyson house before and told Brian J. Roberts: “My first run, the Roc The Mic Tour and everything we did, I came back and had $38 million in my account. And all I had was a two-bedroom apartment that was $800 a month.”
He also explained tax reasons were another motivation to make the outlandish purchase. Jackson said: “If you don’t spend it, you know the IRS is gonna take it. I needed the expenses, so I ended up buying Mike Tyson’s home in Farmington and stuff like that. I was adjusting to it.”
When Jackson first attempted to sell the property in 2007, he asked for $18.5 million. However, it wasn’t until 12 years later when he finally found a buyer at $2.9 million in 2019 and the proceeds from the sale went to his charity, G-Unit Foundation.