25/03/2016
People don't realize that rappers really DON'T make the amount of money that they rap about. Only a SMALL number of them do. If you do your research you will see that pretty much the ONLY liquid money rappers see is from doing shows, producing albums with other artists, ghostwriting and endorsements. Record labels take a HUGE chunk of the profits from record sales since the essentially bill them for ALL expenses incurred during the creation of the album. So the advance money, the fancy videos, production costs, jewelry rental, car rentals, travel expenses, liquid cash etc. Record company charges them for ALL that and essentially whatever money is left over the record company takes their cut and then gives the rapper what's left, THEN they have to pay taxes on what they made and if you're in that upper percentile you get taxed higher.. That's why record companies drop artists if they're not successful with selling records because anytime they can no longer make them money they're not longer a sound investment. The problem is, is that in the urban black rap culture it's all about excess and showing how rich you are even when you're NOT. So a lot of rappers over-extend themselves, pay people to manage their money a lot of times with NO knowledge of how the money is made or spent and don't wise up until they are broke.
