Memphis rhymer Yo Gotti recently spoke with SOHH about the importance of maintaining a strong business etiquette while selling yourself to the hip-hop world
According to Gotti, many artists fail to keep sight of their own financial situation, a misstep he is careful not to take.
“The thing about me is that I’m more of a business man than an artist. So I watch the numbers game and I prefer the numbers to right all across the board. The dudes from the South that have been doing music independently come from a life of hustlers. I just talked to Master P probably three weeks ago on the phone. He was talkin’ about doing something with me, and just to be hollering at him on the phone was an honor to me.” (SOHH)
Gotti went on to include that, in terms of the often short-lived careers of the entertainment realm, it’s never a good look to be left high and dry.
“To me, the worst thing you can do is go out here and work all these years for the next muthaf*cka and you gettin’ nothin’. You know what I mean? So, when your time is up, you gotta make sure your pockets [are] straight. As far as the numbers game, when I throw myself into the equation, I probably do more shows for the most money than alotta n*ggas that got way more recognition. It’s a hustle, and you gotta get it. ” (SOHH)
Tennesse rapper Young Buck made headlines after news of his financial woes hit the web.
David Darnell Brown, who performs under the stage name Young Buck., filed for protection under Chapter 13 of the bankruptcy code earlier this month. The filing came soon after IRS personnel carried out an early-morning raid on Brown’s lakeside home in Hendersonville, seizing much of his personal property. The bankruptcy petition came to light Monday after Nashville’s U.S. District Court lifted the seal it had placed on court filings related to the August 3 seizure. The Chapter 13 process, designed to allow individuals to restructure their debts, automatically halts efforts by any creditor — even the IRS — to collect on debts owed by the person who files. Creditors can ask the bankruptcy court to lift the stay against them on certain grounds, allowing them to move against the debtor. The tax authority claims Brown owes it about $305,000 for taxes due between 2006 and 2008, including penalties, interest and collection costs.(Nashville Scene)
Mega-producer Scott Storch has also reflected on past financial decisions that ultimately led him to trouble.
“The cost of the drug didn’t affect my life,” he explained in an interview. “It was the poor decisions I made, that were so poor financially, that caused me to go into this situation where I was forced to change my lifestyle…forced to change a lot of things. [I had] 15 to 20 cars at all times…That’s not smart. I would take one of 15 half-million-dollar cars I owned and go to the mall and spend that much money. Stupid, stupid stuff. It’s like it didn’t make a difference. They were ego investments. I would have been great with three or four cars! I didn’t need a 117-foot boat…I watched my own father, he went bankrupt and had problems with the IRS. He was living beyond his means, and I guess I was doing the same thing and not even realizing it.” (MTV)
Check out some past Yo Gotti footage down below: