Investment Archives - New Hip Hop News

Diddy Assisted Elon Musk In Taking Over Twitter

August 23, 2024 by newhiphopnews

Diddy is in the news for very different and more harrowing reasons these days, but fans may be surprised at his tech investments. Moreover, a new document went public on Wednesday (August 21) that detailed the nearly 100 investors that helped Elon Musk turn Twitter into X with his $44 billion purchase of the platform in 2022. The Bad Boy mogul represented himself through Sean Combs Capital LLC and joined others like Bill Ackman, Twitter founder Jack Dorsey, and Saudi Prince Al Waleed bin Talal Al Saud. However, it’s unclear how much he invested in the social media site. Also, the public doesn’t know who currently holds shares in the company.

As for Diddy and Elon Musk’s relationship, they went to a Dave Chappelle show in 2022, so they have some amicable history together. Of course, they both have much bigger fish to fry these days, most notable the former’s various sexual assault, abuse, and sex trafficking accusations. As for this situation, the most recent update we received concerned preparations from his legal team to combat these lawsuits. The Combs camp has vehemently denied any and all allegations that have not been proven true.

Diddy Performing In London

Diddy Elon Musk Twitter Investment Bid Hip Hop News — LONDON, ENGLAND – NOVEMBER 07: Diddy performs at O2 Shepherd’s Bush Empire in a special one night only event at O2 Shepherd’s Bush Empire on November 07, 2023 in London, England. (Photo by Samir Hussein/Getty Images for Sean Diddy Combs)

Diddy aside, Elon Musk is instead dealing with the harsh political climate of today’s Twitter, and Plies has a theory as to what his solution may be. “I Can See Elon Shutting Down Twitter When Trump Continues To Fall Behind In The Polls,” he tweeted. “He Brought Twitter To Influence The Election. An Before He Accepts A Trump Loss I Believe He’ll Shut It All Down!!!!!” Many others share a similar sentiment (however unlikely), but we can’t really say much about it until Election Day rolls around in the United States.

Meanwhile, 50 Cent recently reacted to a bizarre Diddy story about a cartel member suing him for refusing to traffic minors. It’s a strange claim, especially since many wondered whether or not this would constitute as self-snitching. Regardless, it’s one of a lot of obstacles in his way, a process that has been wild to witness on Elon Musk’s platform. We’ll see what happens with these controversial tycoons and the platforms and legacies that they must contend with.

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GloRilla Gets Accused Of Stealing Six Figures From Atlanta Investor

May 24, 2024 by newhiphopnews

It’s been a big month for Memphis-born rapper GloRilla, as she just recently kicked off a tour alongside Megan Thee Stallion. The duo made headlines earlier this week when they invited Cardi B to join them onstage at Madison Square Garden, giving their NYC audience even more than they bargained for. Aside from touring, Glo has also been hard at work promoting her latest mixtape Ehhthang Ehhthang, showing off her impressive progress at the gym, and more.

While it appears as though the “Tomorrow 2” performer has nothing but good things going for her these days, she was recently hit with an unexpected set of allegations. During an appearance on The Morning Hustle this week, Atlanta investor Aristotle accused GloRilla of taking six figures from him and failing to fulfill a contract.

Aristotle Puts GloRilla On Blast

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“GloRilla, she stole some money from me,” he claimed. “I paid her some money, over six figures to do something for me and she didn’t complete the tasks. She’s still got two more tasks to complete.” Aristotle continued, revealing that he was still in the process of getting the debacle sorted out in court. “It’s on contract,” he said, “And I’m still going to court about that… It’s been a year, since March of last year.”

The investor was then asked whether or not she allegedly signed the contract before she blew up. According to him, she had already been pretty successful at the time. “She was big,” he recalled. “It’s just you know, celebrity cocky ‘I’m not gonna fulfill the contract’ sh*t. You know how that sh*t go.” What do you think of an investor accusing GloRilla of failing to follow through with a contract? What about him alleging that she “stole some money” from him? Share your thoughts in the comments section down below, and keep an eye on HNHH for more updates.

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Chris Brown Could Lose Home Amid $1.76 Million Popeyes Debt

March 4, 2024 by newhiphopnews

Back in late September of last year, Chris Brown was handed down a $2 million dollar lawsuit from Popeyes. The fast-food chicken establishment has become a staple in the business even with its fellow counterparts like KFC, Church’s, and more. It is part of the reason why the R&B superstar invested in two locations. However, he has not held up his end of the deal as according to the documents from City National Bank. Brown owed $22,140,901.74 in unpaid principal and interest. The lawsuit was filed in California. The singer still has not fulfilled that request about six months later, meaning the consequences are now more serious.

This latest update comes from The Neighborhood Talk and Hollywood Unlocked. They both report that he has exactly 30 days to pay back the outstanding debt. However, instead of just forking over money, Brown could be in danger of losing some of his prized possessions. Those include his home, wages, and money.

Chris Brown Owes Popeyes Big Money

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All three assets would help pay back the balance. On top of that, the court could do so without notifying Brown. “This court may order that a writ of execution or other enforcement may issue. Your wages, money, and property could be taken without further warning from the court,” the filing reads. In Hollywood Unlocked‘s piece, they reported that the new amount is $1,760,654.11. That information came through from BNN.

What are your thoughts on Chris Brown’s massive amount of debt he owes to Popeyes? How do you think this will play out? Why do you think he got behind by so much? We would like to hear what you have to say, so be sure to leave your takes in the comments section. Additionally, always keep it locked in with HNHH for all of the latest news surrounding Chris Brown. Finally, stay with us for everything else going on around the world of music.

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Rick Ross’ $30 Million Mansion Only Cost Him A Fraction Of That, He Reveals

February 16, 2024 by newhiphopnews

It’s no secret that Rick Ross has a lot of cash, but evidently, he hasn’t made it all purely from his music career. During a recent chat with Dwyane Wade on The Why podcast, he chatted about investing, revealing that he’s always had a strong sense of where to put his money. In the clip, he explains that his sprawling 120-room “Promise Land” estate in Fayetteville, GA was purchased for only $5.9 million. While that’s certainly no measly chunk of change, it’s just a drop in the bucket of what it’s currently worth.

“When I bought the Promise Land I paid $5.9 million for it,” he explains. “It was estimated at over $30 million the last time we had it [appraised].” Not everybody saw Ross’ vision at first, however. According to him, his mother Tommie Roberts wasn’t convinced that the property was a wise purchase. “She’s like, ‘Will, the house got a damn 120 rooms. What the hell are you gonna do with 120 rooms?’”

Rick Ross Chats About His “Promise Land” Property

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Luckily, Rick Ross knew that his mother would see the bigger picture eventually. “I knew as long as I had that conversation with her I could convince her… She’s got my back regardless,” he says. “When she stopped questioning me and just looking at me… Because I don’t know, I don’t have the answer every time.” Clearly, Rick Ross had the answer at least that time, as his property is now worth nearly five times as much as what he originally paid for it.

What do you think of Rick Ross revealing that his property in Georgia is now worth nearly five times as much as he paid for it? Are you surprised? What about his mother questioning the purchase in the beginning? Share your thoughts in the comments section down below, and keep an eye on HNHH for more updates.

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Chamillionaire Net Worth 2024: Updated Wealth Of The Megastar

January 9, 2024 by newhiphopnews

Born Hakeem Seriki in 1979, Chamillionaire is an American rapper, entrepreneur, and investor. The Houston native first emerged in the early 2000s with his unique fusion of Southern hip-hop and energetic, catchy hooks. He became an influential figure in the rap scene, making a significant impact with his debut album The Sound of Revenge in 2005.

What Is Chamillionaire’s Net Worth?

The rapper’s unique talents have earned him a net worth of approximately $50 million in 2024, according to Wealthy Gorilla.

Building His Music Empire

Chamillionaire’s success didn’t come overnight. He spent years honing his craft, performing with local acts, and collaborating with fellow Texan artist Paul Wall. Their combined efforts culminated in the release of Get Ya Mind Correct, an album that garnered critical acclaim and commercial success.

However, it was Chamillionaire’s solo career that skyrocketed his fame and fortune. His hit single “Ridin’,” featuring Krayzie Bone, topped the charts. Then, it won a Grammy Award for Best Rap Performance by a Duo or Group in 2007. This success opened the door for Chamillionaire to work with industry heavyweights like Lil Wayne, Snoop Dogg, and Ludacris.

Chamillionaire: Venturing Into Entrepreneurship

Chamillionaire’s net worth of $50 million is not only a result of his musical prowess but also his business acumen. In addition to his music career, he has dabbled in various entrepreneurial ventures. These efforts include founding his record label, Chamillitary Entertainment, and investing in technology startups.

In 2009, Chamillionaire co-founded the now-defunct Fly Rydes, a custom car accessory shop in Houston. Although this venture did not last, his interest in entrepreneurship continued to grow, leading him to explore opportunities in the tech industry.

Investing In The Tech World

Chamillionaire has a keen eye for identifying promising tech startups and investing in their growth. In 2015, he joined the prestigious Upfront Ventures, a Los Angeles-based venture capital firm, as an Entrepreneur-in-Residence. This role allowed him to scout for potential investments and advise companies in the firm’s portfolio.

Some of his notable investments include the ride-sharing giant Lyft, and the revolutionary smart doorbell company, Ring (acquired by Amazon for over $1 billion). These successful investments have contributed significantly to Chamillionaire’s net worth.

Chamillionaire’s Philanthropy

Not one to forget his roots, Chamillionaire remains committed to giving back to his community. He frequently uses his platform to raise awareness and funds for various charitable causes. For example, he raised awareness for disaster relief efforts in the wake of Hurricane Harvey and supported organizations that promote education, empowerment, and social justice.

Conclusion/TLDR

With a net worth of $50 million in 2024, Chamillionaire stands as a testament to the power of hard work, dedication, and diversified business interests. From dominating the music charts to making strategic investments in the tech industry, Chamillionaire has built an empire that continues to thrive. As he remains active in both the music and business worlds, it’s clear that his net worth will only continue to grow in the years to come.

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Lil Durk Faces $12 Million Lawsuit Over Alleged Song Rights Fraud

December 7, 2023 by newhiphopnews

Chicago rapper Lil Durk finds himself entangled in a legal battle with Exceed Talent Capital. The startup claims the artist committed “fraud” by granting song rights to two different companies. The lawsuit alleges that Lil Durk’s actions resulted in over $12 million in damages for the firm. The lawsuit contends that Lil Durk entered into an agreement with Alamo Records long before his association with Exceed. Implying that the assertions and guarantees made in the contract with Exceed were deliberately false when they were initially presented by the defendants.

Furthermore, Exceed says that it paid Lil Durk for the exclusive rights to transform his track “Bedtime” into a fractional investment opportunity. However, the startup claimed to be blindsided when it discovered that the rapper had an exclusive deal with Alamo Records. The lawsuit contends that despite contractual assurances from Durk regarding his rights to the recording, it was revealed that he had already assigned those exact rights to a third party. The fintech startup found out of the discrepancy when Alamo Records issued a cease-and-desist letter to Exceed Talent Capital in May. The label informed them that Durk was under an exclusive recording agreement. Emphasizing that he had no authority to sell his recording royalties to any other entity.

Lil Durk Being Sued

ATLANTA, GEORGIA – OCTOBER 25: Rapper Lil Durk performs during Morehouse & Spelman College Homecoming 2023 at Morehouse College on October 25, 2023 in Atlanta, Georgia. (Photo by Prince Williams/WireImage)

Faced with this legal hurdle, Exceed demanded that Lil Durk find the situation or refund the $450,000 already paid. However, according to the lawsuit, the rapper allegedly ignored these pleas. The fallout from this legal affair proved costly for Exceed Talent Capital. The lawsuit claims that the startup had to cancel the sale after already investing “significant time, effort, and financial resources.” They also had to go through the trouble of securing approval from the Securities and Exchange Commission. The damages are estimated to exceed a staggering $12 million, leaving Exceed in a precarious position.

Ironically, Lil Durk has enjoyed success on the charts. Reaching No. 2 on the Hot 100 earlier this year with “All My Life.” However, his alleged behind-the-scenes maneuvers have sparked legal turmoil. Moreover, the alleged fraudulent actions surrounding the song rights of “Bedtime” have jeopardized Exceed Talent Capital’s financial standing. But, it also raised questions about the transparency and contractual obligations within the music business. The fallout from this lawsuit could have lasting implications for both the artist and the broader landscape of artist-fintech relationships.

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Fetty Wap Explains Turning To Drug Dealing, Says 50 Cent Taught Him To Invest His Money

November 22, 2023 by newhiphopnews

Fetty Wap says he decided to turn to drug dealing for money when his popularity in hip-hop began to decline. Speaking with XXL for a candid new interview, he admitted that he made the “cowardly” decision, rather than “going harder to make people listen.”

“Nobody made me do it. Nobody forced me to do it,” he admitted. “When I put myself in that situation, I ain’t really think for the long run. I’m thinking I could just run up a few million dollars, and I’m gon’ be good forever. When I wanted to start doing shit, this is what I know how to do. It was like, ‘I’m being honest with myself.’ Like, ‘Aight, the music wasn’t really doin’ that good’…. Instead of pursuing my career harder or going harder to make people listen, I was a coward… and I was just like, ‘I can’t let my family down.’”

Fetty Wap Performs At Rolling Loud

NEW YORK, NEW YORK – OCTOBER 12: Fetty Wap performs during the 2019 Rolling Loud music festival at Citi Field on October 12, 2019 in New York City. (Photo by Steven Ferdman/Getty Images)

Fetty added that, regardless of his incarceration, he’s still sticking to his word and taking care of his family. He explained: “It was like, ‘Man, like, I got y’all [my family]. I’m never gonna let y’all fail.’ But if I gotta be away for however long, y’all gon’ be good no matter what. Personally, I feel like I stuck to my word. I tell people all the time I’m in jail. I’m locked up, but I’m not fucked up. I’m takin’ care of my whole family from jail still. That shit don’t stop. I mean, what I was doing stopped. Let me clear that up. But as far as takin’ care of my family, I found different outlets in here. Different people that helped me.”

Elsewhere in the interview, Fetty explained that 50 Cent helped show him other ways to stay financially stable legally. “He started showing me different ways, like shit to invest in,” he recalled. After being arrested in 2021, Fetty pleaded guilty to conspiracy to possess and distribute 500 grams or more of cocaine a year later. Be on the lookout for further updates on Fetty Wap on HotNewHipHop.

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Fabolous Recalls DJ Envy Calling Him With Real Estate Opportunity

November 2, 2023 by newhiphopnews

Fabolous is an artist who has been extremely successful over the years. Although as someone with money, there are those who seek some of that green. Recently, it was revealed that DJ Envy had actually called Fab about potentially investing in real estate. However, as we know now, the real estate investments that Envy was touting weren’t too great. Instead, his business partner Cesar Pina has been arrested on wire fraud charges. Furthermore, some are accusing Envy of being the catalyst for a lot of Pina’s success.

That said, those who were approached by Envy, are now speaking out. For instance, Jeremy Hecht of HipHopDX recently spoke to Fab and asked him about the call with Envy. In the video below, you can see how that conversation went down. In Fab’s mind, he never thought it was a scam or some sort of fraud scheme. Instead, it was just someone presenting an opportunity. Regardless, Fabolous was never all that interested.

Fabolous Speaks

“He was tellin’ me about some real estate stuff,” Fabolous recalled. “I’m just a guy that gotta see things through a little bit more. I don’t just get hyped at … y’know, it be a lotta ‘get money’ — I don’t want to call it a scam or a scheme — but a lotta ‘get money’ ideas that come to you, so I just gotta see ’em through. So even with that phone call, I was like, ‘Aight,’ but I wasn’t like, ‘Sign me up, [who] do I give my money to?’ Y’know what I mean, and I didn’t really hear back from [him].”

As we know by now, Joe Budden was also approached. However, he immediately told Envy he would go to jail for this scheme. Let us know what you think of the DJ Envy situation, in the comments section below. Additionally, stay tuned to HNHH for the latest news and updates from around the music world. We will always keep you informed on all of your favorite artists.

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Rick Ross Clarifies His Remarks About Spending $100 Million In One Year

October 5, 2023 by newhiphopnews

Rick Ross is known for calling himself “the boss,” and for good reason. Overall, he has signed numerous artists to his label over the years. Of course, his most famous would Meek Mill. In fact, he and Meek are going to be dropping a joint project soon, and fans loved it. Additionally, they dropped a single from the album just last week, simply called “Shaq & Kobe.” It was a great some between these two, and fans are very excited about what a new collaborative tape will bring.

Over the course of the past week, Ross has been on a bit of a press run. For instance, he recently did an interview with Ebro. During this interview, he touched on a plethora of topics, including drug addiction and having to take medication for lean abuse. However, he also spoke about his wild spending habits. For instance, Rick Ross revealed that he has spent $100 million in the last six mont hs. Fans could hardly believe this, although Ross is saying it is true. In a new video, he made sure to clarify his remarks.

Rick Ross Speaks

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As you will hear, Ross says that there is a big difference between spending $100 million and making $100 million. Needless to say, this is a not-so-subtle flex of his wealth. Moreover, he notes that $100 million of that could simply be investments. However, he did joke at the end that it could also be $50 million of investments and $50 million of raw spending. Whatever the case may be, there is no doubt that Ross has a lot of money, and he is not afraid to flaunt that.

Let us know what you think of Ross and this massive display of wealth, in the comments section below. Is it too much? Additionally, stay tuned to HNHH for the latest news and updates from around the music world. We will always be sure to keep you informed.

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Snoop Dogg Backs Out Of Coffee Company Investment

October 2, 2023 by newhiphopnews

Snoop Dogg quietly backed out of his partnership with Indonesian businessman Michael Riady for the premium coffee brand INDOxyz, earlier this year. According to Page Six, his exit came just months after teaming up. He helped launch the premium coffee brand in March and was out of the company by the start of the summer.

Snoop apparently backed out amid issues involving Riady’s management and the company went under in just two months. “It took 16 days to do their investigation… Snoop and his team left the company, dropping all ownership and stake in the company… and they did not offer a reason,” a source told Page Six.

Snoop Dogg Attends The MTV VMAs

NEWARK, NEW JERSEY – AUGUST 28: Snoop Dogg attends the 2022 MTV VMAs at Prudential Center on August 28, 2022 in Newark, New Jersey. (Photo by Kevin Mazur/Getty Images for MTV/Paramount Global)

The brand’s president, Elbert Song, also commented on the situation to the outlet. “Working with Snoop and his incredible team on the launch of Indo was an amazing experience. I’m disappointed to see that journey end, but am excited to support a new venture, Flowin Coffee with female founder Tamie Tran,” he said. According to Page Six’s source, Riady has been telling people the split stemmed from a disagreement over what music to use to promote the brand.

Snoop Dogg recently discussed how he decides on which brands to work with during an interview with Distractify. He told the outlet: “I ain’t exclusive to nobody but me. Now if I’m exclusive to you, believe me, you [are going to give] me a motherf–king bag or piece of the company. That’s just always been my rule. Because I feel like you own me now — if I got to be exclusive to you, then you own me. So if you’re going to own me, I need to own a piece of this.” Elsewhere in the interview, Snoop mentioned wanting to host a children’s TV series.

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