A clip from the conversation shows the music manager calling Percy “broke” and recalling that he lost his masters two decades ago, reportedly leading to his financial ruin. He then praised Nick Cannon for his success and claimed that Percy did not have 20% of Nick’s money.
Here’s what Jones said in the audio clip:
He added, “P ain’t never been Baby. P has never in his life had the kind of money Baby had” while someone tried to compare him to Bryan “Birdman” Williams.
Wack’s claims led to some lengthy discussions online where people tried to defend Percy, and others just reacted to the comments without taking sides.
Master P’s net worth explored
Born in New Orleans, Louisiana, U.S., Master P is mostly known as the founder of the record label No Limit Records. It was later relaunched as New No Limit Records, Koch Records, and Guttar Music Entertainment, and is currently named No Limit Forever Records.
According to CelebrityNetWorth, the 51-year-old’s net worth is estimated to be around $200 million. Apart from being a successful personality in the hip-hop community, he is one of the richest rappers and entrepreneurs in the world.
Career as an entrepreneur
The rapper first opened a record store called No Limit Records in Richmond, California. He then built a huge empire by investing in several businesses and investment ventures from different industries.
He then invested the wealth he earned from his No Limit Records company into a travel agency, Foot Locker retail outlet, real estate, stocks, film, music, television production, toy making, telecommunications, and more.
The record executive’s sports management agency, No Limits Communications, was also a success alongside his conglomerate company, No Limit Enterprises.
Master P’s real estate investment and property management company, PM Properties, controls around 100 properties around the United States. Black Enterprise magazine says that No Limit Enterprises grossed a revenue of $110 million in 1998.
The Scary Movie 3 star is the owner of his line of beverages, “Make ‘Em Say Ughh!” Energy drinks. He then founded a cable television network called Better Black Television in 2010.
The artist is also earning a lot from an old music distribution deal signed with Priority Records in 1996.
The deal says that No Limits Records will retain full ownership of their master recordings and keep 85% of their record sales, while offering Priority 15% return for pressing and distribution, allowing No Limits to gain from future sales like catalogs and reissues.
After signing his deal with Priority Records, he branded his albums and cross-promoted his artists and albums on album covers. He offered 20 songs for each album compared to others who offered 15 or less.
Miller also ensured that his artists topped on SoundScan after releasing their albums and used inexpensive videos to promote his artists. His record labels sold around 75 million records through his innovative marketing and branding strategies.
Percy presided over a business empire that included his conglomerate, No Limit Enterprises, as the founder and CEO of No Limit Entertainment. He also manages the music, film, and television career of his son, Romeo Miller, alongside pop star Forrest Lipton and rapper Gucci Mane.
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