Although you may not see much of Master P. in headlines, it doesn’t mean that he’s fallen off. He’s like a phone app that’s running in the background. Net worth wise, Master P. is still ranking as one of the top five rap icons to date. But how?
When is the last time you heard a hit record or song from Percy “Master P.” Miller, on a national level? Nowadays, if it’s not about “dabbing,” the “Nae-Nae,” “hittin’ dem folks,” the “whip,” or “hittin’ the Quan,” it’s almost perceived that other songs are irrelevant to the current generation.
However, there are a few “old heads” who still stand the test of time. And while you see Forbes‘ listed “Five” hip hop icons in media headlines, you rarely see Master P. Yet, his net worth is reportedly near $400 million — approximately raking in $45 million per year. Why didn’t the financial medium mention Master P. in the Forbes Five article?
As reported by New York Times, Master P. has been investing his money wisely since 1998. According to the source, after receiving a $10,000 malpractice settlement check, Master P. opened up a record store. After that opportunity flourished, he started No Limit Records. During this time, with an entrepreneurial mentality, along with investor know-how, Master P. pushed passed the stigma of being labeled a gangsta rapper.
Celebrity Net Worth elaborates on the business mogul’s financial journey in the following video.
Similar to other rappers who flaunted a certain flashy lifestyle, Master P. did the same. However, simultaneously, Miller had the financial foresight to make larger, bigger-picture moves — not just living in the glamorous present but setting up for his future, as well as his successive generations.
However — to momentarily backtrack — according to Celebrity Net Worth, Master P. developed his financial savvy-ness from the several business classes taken at Merritt Junior College. In regards to the journey, the source mentions as follows.
“Armed with $10,000 and two years worth of junior college business classes, Master P. decided to open a record store. He found a dilapidated building and struck a deal with the owner that gave him the first three months rent free in exchange for cleaning and renovating the storefront. The 21 year old future mogul soon launched ‘No Limit Records & Tapes’ on San Pablo Avenue in Richmond, California.”
The store was a hit. Eventually, Master P. started promoting his own music via the store and other avenues. His first album basically was the crowd-drawer and attention-getter. Master P. toured the West Coast and opened for acts like Tupac and Too Short, says the source.
However, his second album reportedly sold 150,000 units. As an independent label, this was quite unheard-of at the time. This was still during the era when major labels reigned supreme. With majors, it was “get down or lay down,” as far as your music career was concerned.
Yet, Master P.’s third album, The Ghettos Tryin to Kill Me!, reportedly sold 250,000 units, approximately netting the New Orleans mogul $900,000 — independently. With this kind of success, you know it’s only a matter of time before major labels want you on their teams. And from evidence, Master P. was able to leverage his fame on the negotiating table. The source quotes Master P.’s negotiating power as follows.
“Master P. was able to secure an unprecedented deal between No Limit and Priority Records. Not only would No Limit receive a $375,000 advance for every album produced and 75% of the wholesale price for every album sold (the standard at the time for a major artist like Madonna was 25-50%), but at the end of the deal Master P. would own every master recording from his entire roster of artists, including himself.”
Fast forwarding through his extensive musical career, Master P. also pursued a series of outside investments and endeavors. The source mentions that these extra-musical opportunities amassed figures that exceeded the sells from No Limit Records. These endeavors are as follows:
- Sports management company – No Limit Sports (as reports Vice Sports)
- Clothing line – Money Mafia Clothing
- Real estate firm – P.M. Properties (as reports BMI)
- Phone sex business (as reports New York Times)
- High-end travel agency – Advantage Travel (as reports BMI)
- Energy Drink – Make ‘Em Say Ughh!
- TV Network – Better Black Television (as reports Gawker)
- Film studio – No Limit Films (as reports IMDb)
As concerns Master P.’s movies, “No Limit Films produced a series of straight to VHS movies that routinely sold millions of copies,” says Celebrity Net Worth. So, it’s easy to see how Percy “Master P.” Miller would have such a high net worth. And those aren’t all of his endeavors. According to his ex-wife, via TMZ, Master P. owns 45 businesses. He did say that he was an entrepreneur, right?
What are your thoughts? Feel free to share them in the comments.