Percy R. Miller aka Master P came humble beginnings. He was raised in a rough part of New Orleans in the Calliope Projects which was infamous for its high crime rate. But what he knew that many others didn’t is you don’t have to become a product of your environment. Inspired by a former Calliope Projects resident, who came back to the projects driving a Mercedes Benz after becoming a successful insurance salesman, Percy knew he would become a successful legitimate businessman.
With his siblings and father at home and little food to eat, his entrepreneurial journey began. Percy started his first business at the age of 16 selling the latest cell phones to his classmates because no one would hire him. He later started his college career at the University of Houston where he play basketball. After his freshman year he transfer to Merritt Junior College in Oakland, California where he study business. After the passing of his grandfather he received a $10,000 malpractice settlement check due to his death and used it to start his second entrepreneurial journey.
At the age of 21, Percy opened No Limit Records & Tapes record store where he sold the latest west coast rap music. His store quickly became a success in the area which inspired him to start recording and selling his own music. His independent music began selling in record numbers. At this point he decided to take his success back home to New Orleans and we know the rest of the story. Master P’s independent success emerged into the No Limit Soldiers and millions were made.
His business savvy landed him an unheard of deal in the music industry. No Limit receive a $375,000 advance for every album they produced and 75% of the wholesale price for every album song, when the standard at the time for a major artists was 25 – 50%. As we’re all learning ownership is vital. Master P owned every master from his entire roster of artists. In the words of the great philosopher, Nas, that’s a major key.
In the mid to late 90’s Master P and the No Limit Soldiers were dominating the music industry. When Master P decided to focus on his basketball career the No Limit team and its earnings began dwindling. But Master P is still wealthy, ranking 5 on richest rappers in the world list. His net worth is $350 million. So please don’t forget he is so much more than a rapper he is also an entrepreneur, record producer, former basketball player, actor, filmmaker, investor and philanthropist. One thing he will never be again is broke!
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