Warren Buffet is one of the wealthiest people in the world but looks like he is not the only one who started his business with a small investment amount. American rapper, Percy Robert Miller or Master P recently revealed in an interview how he changed a small amount of money into a multi-million dollar empire.
In a recent interview with HipHopDX, the entrepreneur looked back on those early days when he was just a naive teenager desperately wanting to escape the poverty that surrounded him in the New Orleans projects. After inheriting the small chunk of money from a deceased relative, he moved to Richmond, California where he opened No Limit Records. He started his No Limit business venture with only $10,000.
“So I started No Limit with $10,000, and it turned into a multi-million dollar empire; went from selling no records to selling over 100 million records. It’s a blessing. You gotta dream big. Yeah. You got to, yeah. You just gotta dream big,” said Master. He further confirmed how people don’t need millions of dollars to start a business. “I was this 19-year-old kid with a record store in Richmond, California, and built it. You know, it was tough building that process and growing it. But you don’t have to have a lot of money. Everybody thinks you need millions of dollars to start a business.”
According to Forbes, Master P’s current net worth stands around $200 million. After dominating the rap genre for over a decade, the 54-year-old business mogul signed an unprecedented distribution deal, has released a small arsenal of multi-platinum albums, sold over 100 million records worldwide and expanded into the grocery business with Uncle P’s foods and Master Crunch Cereal. He further fulfilled his dream of playing professional basketball, landing NBA contracts with the Toronto Raptors and Charlotte Hornets.
“I come from a poor culture of people, nobody in my family had money,” he told Forbes in 2015. He wanted tp break the negative cycle and pass that on to his kids. He is also very good at navigating the fame that comes with his success, and continues to evolve everyday.
“Being famous is doing something that surpass being ordinary and you know, it put a spotlight on you to where everybody understand that you did something exceptional and people want to be a part of it,” he explains. “But the one thing that people have to realize that fame, talent, it don’t last forever. That’s why I got into the product business. Product outweighs talent. It outweighs fame. And when you have great product, that product will be around when you are not around.”
Master P partnered with PLB Sports & Entertainment in November to launch Master Crunch Cereal. A portion of the cereal’s proceeds will benefit Master P’s Team Hope Foundation, a non-profit organization focused on enriching the lives of inner-city youth by furthering their education and providing life-advancement opportunities. It also senior citizens with food and shelter. He recognizes his philanthropic attitude as an important factor when it comes to his success.