This Is How Your Favorite Rappers Spent Their Advance Money
Last year, we posted a video of Big K.R.I.T. explaining how he spent his major label album advance. He used it to fund a tour, a move that denied him that new car collection in the short term but undoubtedly helped his career in the long run.
This is how we found out people are fascinated with how rappers spend (or blow) their advance money. So we decided to share more stories of how some of your favorite artists either balled out of control when that advance check cleared or stored it away for a rainy day.
Much like Big K.R.I.T., Logic elected to take his advance check from Def Jam and pour it into a launching a new tour and creating some dope merch for those same fans to snap up at shows. It was an impressively wise move for a young artist who was even younger at the time and it’s impossible to argue with Logic’s strategy. Years later, his investments are paying off in spades. Those small early shows have grown into thousand-seat arenas, tour money far greater than his original advance.
As an emerging rapper, Rocky managed to land a deal with RCA rumored to be worth $3 million. While we don’t know how much the advance was, we do know what he spent it on: In an interview with MTV, Rocky said that he blew almost all of his advance exclusively on “expensive-ass clothes,” including a Balmain jacket which he copped for a mere $9,000. But for a rapper whose extravagance is his image, maybe it’s not such a foolish purchase after all.
50 Cent was also no stranger to living the high life, but Fiddy’s one of hip-hop’s shrewdest businessmen. After paying $50,000 to Jam Master Jay, who helped set up his label deal (true story), 50 spent an additional $300,000 trademarking both his name and the G-Unit name to launch his highly profitable G-Unit clothing line. And I don’t think we need to point out that he made a lot more than $300,000 with that little venture.
The Chicago rapper’s story comes with a twist. When Keef signed to Interscope, the label advanced him $440,000 as a solo artist, and an additional $440,000 for his Glory Boyz Entertainment label. But since he was only 17 and legally a minor, all of that money was placed in a trust, controlled by his grandmother, that he could only access when he turned 18. When he finally came of age, bought a brand new all-white Lamborghini, estimated to cost $200,000, and four toy Lamborghinis for his daughter Kay Kay.
LL Cool J
Way back in 1984, when LL was just a teenager, he signed to emerging label Def Jam and received a $50,000 advance. He bought his mother a Mercury Cougar, some gold chains, and, of course, plenty of Kangol hats. Not exactly an investment strategy, but we’ll never be against paying your moms back.