Where Did It Go?

Commonplace #8: Artists spend their money foolishly and beyond their means.

MC Hammer is probably the first person that comes to mind when you read the above statement. He lost everything he had in the "blink of an eye"  because he never budgeted or paid attention to his cash flow.  and However, it seems that many hip--hop artists today have learned from his mistakes and wised up quickly when it comes to money.

Jay-Z who tops the list of the richest rappers made $63 million this past year. P. Diddy is second on this list and made $30 million. The third to top this list is Akon with $21 million and Lil Wayne is in fourth place with $20 million. These men are not only music artists, they have many ventures outside of their music that allows them to maintain a steady cash flow. Jay-Z is a co-owner of the 40/40 club chain and has recently written a book called "Decoded". P.Diddy is the CEO of a record company and has made his money through the creation of his own brand of liqour, "Ciroc", appeared in movies and television and has his own clothing line to say the least.Lil Wayne has also began to secure his financial future with his personal record label specifically with his new music group Young Money.

Though many artists do boast of their financial status through cars, jewelry and property, none have yet to suffer losses as great as the legendary MC Hammer. But with artists becoming more business saavy as they get more money hopefully it never will.



           
                                     



Sources:

"Hip-Hop Stars Stayin' Paid Outside of Music". Aug. 2010. Web.