News: Wale Warns Rappers About Carrying Dead Weight: "That Sh*t's Not Lucrative At All" [Video]
Friday, Mar 22, 2013 2:15PM
Maybach Music Group's Wale recently offered up some advice to his fellow hip-hop peers, killing the positive perception of adding people to an already overblown entourage.
The Washington, D.C. native warned rappers about the danger of having too many people in your camp and also provided some career advice.
"I don't have no [dead weight]. Message to all rappers, stop carrying around dead weight, 'Yes Men,' dog. That sh*t is not lucrative at all. It's not lucrative. [Do I have stories?] Nah, I just see a lot of dead weight. You've got to make sure everybody's working, man. ... In any hustle, you've got to put in something to get something. A lot of people think you sign a record deal and kick your feet up. I think when you sign a record deal, you've got to become even more independent because you're getting a push. If you don't get to a certain level with the push, you look crazy. I'd rather do no numbers independent than doing no numbers with a major. I fear that failure more than I want to get money. I'm scared to fail. The money ain't the issue at all." ("The Breakfast Club")
Since joining Maybach Music, Wale has reportedly banked around $5 million.
That competitive nature has set the rapper on a course to stardom, as his recent success shows. Wale grossed over $20,000 per night while performing more than 75 concerts over the past year; his new album, Ambition, provided the soundtrack. Over the past 12 months, he pulled in nearly $5 million, narrowly missing the Hip-Hop Cash Kings list. "I don't want to be one of those guys that you see who made $4 million, invested $3.5 million, and now you work at Wendy's," he says. "I want to get the highest score on Pacman or Frogger ... [and] I want to make sure I'm on the FORBES list in a year or two." (Forbes)
Last month, Atlanta's Soulja Boy Tell Em credited being stingy with his money for helping him avoid going broke.
"Yeah, man. Look at the ones that came and went before me. Look at all the one-hit wonders and all the people that were hot at one time and ain't hot no more," Soulja added. "You have to learn from that. And at the same time, to be honest: I'm a cheap a** n*gga. I'm a millionaire that live with a hood mindset. 'Cause I still feel like I'm in the hood. Once you've been broke before, you had no money, you had nothing to eat, you had no car, nobody wanted to give you nothing, once you get rich, you ain't going to go that broke. You got a lot of n*ggas that was silver spoon fed, and born rich and born with money, and if they go broke, they're gonna kill themselves. But I know what it feel like to be broke. I'm not trying to go back there." (Complex)
In fall 2011, Miami's Ace Hood revealed what financial advice he has applied to avoid debts.
"Now, if I make $100,000 per month, I save at least $60,000," he explains. "You definitely have to save for rainy days. You never know. It could rain, but then again it might storm. Hail might come. Maybe a tornado." Another lesson: Don't be afraid to ask advice. Ace Hood listens carefully to fellow Miami-based hip-hop veterans DJ Khaled and Rick Ross. Though Ross, a frequent member of FORBES's Hip-Hop Cash Kings list, has been know to brag about "blowin' money fast," he and Khaled have told Ace Hood simply, "Make sure to save." Ace Hood also says he learned not to overspend on significant others. In 2008, he'd give his then-girlfriend as much as $800 every few days to fund extravagant shopping trips. No more. (Forbes)
Check out Wale's interview: