50 Cent signs $78M underwear deal

Rapper Curtis “50 Cent” Jackson attends the Frigo launch VIP night at the Frigo pop-up store in New York, Nov. 24, 2013.
Michael Stewart | WireImage | Getty Images
Rapper Curtis “50 Cent” Jackson attends the Frigo launch VIP night at the Frigo pop-up store in New York, Nov. 24, 2013.

Curtis "50 Cent" Jackson has closed a $78 million deal with FRIGO Revolution Wear to promote men's underwear.

The famed rapper announced the deal on Instagram on Monday before appearing on "Late Night with Seth Meyers" to endorse the $100 briefs.

50 Cent admits that the product was designed prior to his involvement, but he is quick to defend the hefty price tag. He told Meyers, "Women spend so much money on lingerie; it's the right project for men."

Read MoreJessica Alba: Business is hard!

FRIGO Revolution Wear boasts that their products "were created to revolutionize the underwear industry by offering men optimal comfort, moisture-control and support, with style and practicality in mind."

The company has partnered with former Yankees short-stop Derek Jeter and current New York Knicks player Carmelo Anthony.

This isn't 50 Cent's first foray into the endorsement business. In fact, the rapper owes most of his wealth to the $100 million sale of his stake in VitaminWater. Forbes estimated that the rapper was worth $140 million in April of 2014. That figure has likely increased now that he has signed with FRIGO.

Watch the full interview with Seth Meyers.