Minding Their Business
Most rap artists do not have even a remedial understanding of sound business. They are artists and do not take the time to learn about the side of the industry that will keep them eating. Instead, they eagerly sign away their talents for what amounts to tens of thousands of dollars — money that seems like a lot to a starving artist, but quickly runs out. Worse, they tie themselves to a record label for years for little to no money. The disconnection between getting a check and establishing a solid career is significant.
Poor Spending Habits
When they come into money, too many rap artists focus so much on impressing others that they spend, spend, spend almost exclusively on needless material possessions like outrageously priced jewelry and clothes, multiple luxury cars and homes. They roll hard and high … for a short time. The need for “things” ultimately leaves them with nothing.
4 thoughts on “6 Eye Opening Reasons Why Rappers Go Broke”
Ummm, this does not only pertain to rappers, smh. The topic she be why people go broke in that case.
I think the topic is to attract people who want to know about the rappers' situations, not just the general public. And it did include other things, like the posse, which nobody else but celebrities really do.
True dat! Most rappers have a talent life-expectancy of that of a nat, and everything is about them; the image they want to portray (outlandish outfits, hats, and shoes with logos and messages on them), the ridiculous jewelry (watches, gold ropes and neclaces, big rings, etc.), their people (posse) that they support and who are hanging on, the flashy cars (most of which they don't know how to drive in the first place), the lavish homes, and the take-out-food they eat on a daily basis.
All of this burns through their dough ($$) pretty quick, and they end up broke in a matter of a few years. In true fashion they live for the here-and-now with absolutely no regard for the future.
But hey, they had fun for a little bit, and made other people money doing so. I just hope they don't go crazy when they end up on 2nd shift at the local Walmart stocking shelves when their run on success hits the finish line.
Very good article…..keep up the outstanding work shining the light making all aware of the pit falls in business…..