'I just keep things going': Rapper Meek Mill on how he manages his money
UPDATE: According to reports on Friday afternoon, A$AP Rocky will be released from Swedish police custody at least until a verdict is announced on August 14.
Rapper Meek Mill is “the type to count a million cash then grind like I’m broke.”
And in an interview with Yahoo Finance, the Philadelphia rapper and criminal justice reform advocate detailed how he approached his financial decisions.
“I make my own decisions of what I'm going to invest in,” Mill told Yahoo Finance’s Julie Hyman (video above). “I have companies that manage my finances, and I have Roc Nation managing me. I have my own financial team at the same time. Me, I stay on top of everything myself too. I just keep things going.”
‘I watched… and I studied”
The rapper, who produced an Amazon Original documentary series called Free Meek that airs August 9, said that his own legal troubles drove his recent push for criminal justice reform.
That advocacy turned into a foundation called the Reform Alliance, formed with billionaire rapper Jay-Z. The foundation drew other billionaires like New England Patriots owner and Kraft Group Chairman and CEO Robert Kraft, hedge fund manager Daniel Loeb, and hedge fund manager-turned-cryptocurrency investor Michael Novogratz.
Working with Jay-Z in particular, who also founded Roc Nation, left an impression, Mill said previously.
“He built businesses, and he built things that made him become the man who he is, that we could call a billionaire guy,” Mill said. “I watched that, and I studied that. That's why I'm working the way I'm working now to build a foundation for myself too.”
Mill’s business ventures
Mill invests or partners with several types of companies.
He’s invested in sports apparel retailer Lids, becoming a co-owner of North America’s largest retail seller of hats and licensed sports products.
“I'm going to Lids my whole life for their hats and caps,” said Mill.
Mill also partnered with California-based lifestyle brand Ethika to develop customized boxer briefs, and has been recording exclusive songs alongside other rappers.
“I've been with Ethika for the last seven, eight years,” Mill said. “It's actually my favorite underwear that I love.”
And he’s also got a partnership with online convenience store service goPuff. “goPuff is actually a Philly based company, kind of delivers all types of snacks all nights,” explained Mill. “It's things that I believe in and I like a lot. I go for what I know.”
But Mill said there was one type of asset he wasn’t entirely comfortable with — at least right now.
“I never got in the stock shit,” said Mill. “I didn't learn it really fully on how it worked. But I should be coming soon I think.”
Aarthi is a writer for Yahoo Finance. Follow her on Twitter @aarthiswami.
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