Rick Ross Net Worth
Rick Ross Net Worth: $28,000,000
Sources: Maybach Music Group (MMG), Wingstop, Reebok
Rick Ross, born William Roberts, is a rapper, record producer, and entrepreneur with a net worth of $25 million. He was born in Missippi and grew up in Miami, Florida.
Known for his reckless luxury lifestyle, as well as repeated brushes with the law, Ross actually worked as a correctional officer in Florida before getting into rap music. He started rapping in the mid-90’s with a group called the Carol City Cartel. In the 2000’s he joined Slip ‘N’ Slide Records, toured with hip-hop artist Trick Daddy, and was featured as a guest rapper on a few Slip ‘N’ Slide albums.
His first major breakthrough came with the release of his hit single “Hustlin” in 2006. This song caught the attention of a number of major label executives, and soon Ross was the subject of a bidding war. Despite offers from the likes of Bad Boy Records CEO Sean “Diddy” Combs, Jay-Z eventually signed Ross to Def Jam Records with a multi-million dollar contract. Later in 2006, both “Hustlin” and Ross’ debut album “Port of Miami” were certified gold.
His music has featured a number of high-profile collaborations over the years, with artists like R. Kellyand T-Pain appearing on his 2008 album “Trilla,” as well as more recent collaborations with Usher, Dr. Dre, and Jay-Z on his latest album “God Forgives, I Don’t.”
Ross earns a good deal of his income for album sales and touring. In 2012, Forbes Magazine reported that Rick Ross had brought in $6 million in earnings the previous year. Rick Ross later denied this figure in an interview with The Source, saying: “Y’all know how I rock and the Boss getting way more money than that.”
To add to his profits from music, Ross is also the President of the record label Maybach Music, and has recently entered into partnerships with Wingstop and Reebok.
Maybach Music Group
In 2009, Ross struck out on his own to release his third album “Deeper Than Rap” on his new label, Maybach Music Group (MMG). At the time, MMG was an imprint of Def Jam, but was later distributed by Warner Bros., and as of 2012, is now distributed by Atlantic.
After releasing his own album, Ross went about finding new acts to sign to MMG. The next album the label would release would be Triple C’s “Custom Cars & Cycles,” which sold 12,100 copies in its first week of release.
The label later acquired the likes of Meek Mill, Wale, Omarion, and Gunplay, all of whom are still with MMG today. In 2012, MMG struck a joint venture with Diddy’s Bad Boy label to sign French Montana as a joint venture. Ross and Diddy are set to produce his debut album “Excuse My French” together, which will drop on May 21, 2013.
Rick Ross Goes on a Shopping Spree (Cars, Jewelry & More)
It has been reported that rapper Swizz Beatz was the one to convince Ross to sign a deal with Reebok in 2012. The deal involved Ross designing and promoting a line of big & tall menswear. To date, the endorsement has led to multiple television and print ads for the brand. However, the status of the deal is now threatened by a petition launched by the anti-sexism collective UltraViolet, which encourages Reebok to drop Ross because of his lyrics on Rocko’s song “U.O.E.N.O.” In his guest spot on the song, Ross talks about drugging and raping a woman. Ross recently gave a response to the campaign on a New Orleans radio station, saying: “I want to make sure this is clear, that woman is the most precious gift known to man, you understand? There was a misunderstanding with a lyric, a misinterpretation. The term rape wasn’t used. I would never use the term rape in my records. As far as my camp, hip-hop don’t condone that, the streets don’t condone that, nobody condones that.”
In 2011, Ross opened a Wingstop restaurant in Memphis, Tennessee. The restaurant is part of Wingstop’s popular chicken wing franchise. Later, in 2012, Ross opened two more Wingstop locations: one in East Memphis, and one in his hometown of Miami, Florida. The partnership may have been a boost to the Texas-based company, as they now plan to add 28 locations in Michigan over the next seven years.
Latest Venture: New Album
Rick Ross is said to have been working on a new album since December, 2012. The album will be called “Mastermind,” and is set to be released sometime in 2013. The first single, “Box Chevy,” was released to iTunes on February 15th, 2013.
Since his 2006 breakthrough, Rick Ross has made a name for himself as a high-rolling, street-wise gangster rapper. Famous for his numerous lyrical drug references (his stage name comes from a drug lord in L.A. named “Freeway” Rick Ross), this artist appears to have done a good job of making money legitimately as well. With the success of his own music, as well as the success of MMG artists, his career so far has earned him a solid net worth of $25 million.