Rapper 50 Cent has recession advice for Obama: Don't buy too many diamonds

Last week it was Pamela Anderson. Now, there's news that the recession has affected another one of the entertainment world's shiniest stars. Rapper Curtis Jackson, a.k.a. 50 Cent, has confessed he's lost "a few million" of his estimated $442 million estate.

A move that's prompted his sharing some financial tips.

"The credit crunch has hit rap," he said in an interview with a British daily. But, like any budget-minded consumer, 50 Cent has a plan: don't buy any more new diamonds until you sell off some old ones. Sounds reasonable. Thanks, 50!

"I buy diamonds on a very regular basis, but now I am selling my old stuff before I get something new," he said.

The 34- year-old rapper and actor (he's starring in the British flick Dead Man Running) admits it was inevitable that rich people (like him) would see their net worth drop as a result of the economy. "If you don't lose money in this recession, it means you didn't have enough to start off with," 50 Cent said. "Sure, I lost a few million, but that's because I have so much."

"These are times when you learn about the value of money." Tough times, indeed. So tough, in fact, that 50 has magnanimously offered to lend President Obama a hand straightening out the U.S. economy. Promising businessmen and politicians that he's got secrets to share, 50 Cent said "Obama is great. If he wants me as his financial adviser that would be cool."