With a net worth of $200 million, New Orleans rapper and entrepreneur Master P says artists are too eager to sign deals without doing the math.
“We have to look at each other for expertise,” he told Page Six. “But instead we just sign on the dotted line when a man you never met in a suit appears.”
He’s even happy to act as an adviser, but, “When you come ask me for some help . . . I will say, ‘If I get this deal closed for you, I want 10%,’ and then you say, ‘No.’ But if [it’s just a guy in a suit] . . . they sign right off.”
As far as his business outlook: “Some stock markets go up, then go down — but if you have the knowledge, you will survive it and bounce back,” he said. “I’m like instant grits . . . just add water.”
Beyond music and film, his other ventures range from sports management to apparel.
But he feels that as a businessman, “If I was white, I think people would respect me more. People are not afraid to give those other cultures a percentage.”
His movie, “I Got the Hook Up 2” is out July 12.