Master P stands as a legend in hip-hop and business. Entering the rap game at a time when major record labels ruled the industry, Master P remained independent and was able to reap the benefits. In the 1990s, he negotiated a distribution deal where he kept 85% of the profits for his No Limit Record label. That deal made him one of the wealthiest CEOs in hip-hop history.
Master P, who says he’s no longer in the music industry, is now focused on consumer products. He’s teamed up with Snoop Dogg for a cereal brand and has interest in Rap Snacks.
Master P recently served as the keynote speaker for TSP Game Plan 2024 in Atlanta. During the event, he gave keen advice on business and fatherhood.
You garnered success in music and now you’re focused on consumer products. How did you navigate the change in industries?
You can’t be afraid to grow up and change. When I was in the music industry, I sold 100 million records. And now we’re in the product game. Product is constantly being placed all the time. It’s not like putting out an album where you have to wait for one project. So it’s a blessing. This is how a lot of these other cultures have been building generational wealth. And I think the thing that we got to fight now is the distribution. And most of our culture doesn’t understand it. So what me and Snoop is doing is standing up to fight for our culture. We’re going to have to do some more disrupting. A lot of these national chain stores should make sure that African American and Latinos are able to get products in their stores…When it comes to change, a lot of us are afraid to do it. Because we think we can’t do it.
What is your messages to business owners who are having difficulties when it comes to scaling their products?
My message to the people that are struggling trying to get their products to scale is don’t quit, don’t give up. It’s going to be uncomfortable. But you look at us being the first Black-owned cereal company. Imagine if these companies had been around for 100 years. African Americans and Latinos are the number one consumers of these products. So we just got to change that mindset to where we realize that we can support each other. So it’s going to be tough. I tell people that it is not happening overnight. When I did a music, I had a hit record but they were trying to keep me from hitting mainstream on a radio. So it’s the same thing we deal with these products now. We want an equal opportunity. We have to make great products. I think, when you’ve got a great product, you can’t put it in a brown paper bag. You have to look at the quality. When we protests in the middle of the streets, we fight for justice. But now we have to fight for economic empowerment.
Your youngest sons have garnered major attention in basketball. Mercy Miller recently landed a $1.4 million NIL deal with Greek yogurt company Sweetkiwi. How do you balance fatherhood and business?
Balancing being a father and a business man is like a duty to your family. So I have younger kids that want to be in sports. I certainly know it’s going to be difficult for you because of who you are as my child. You’re gonna have to work extra hard. So with this generation, what I learned as a father is how to communicate and how to prepare. Instead of giving your kids entitlement, I taught this generation of my kids hard work. It’s nothing greater than being a father and a businessman. Fatherhood is something that is not perfect. There is no perfect father, but you can grow as you understand and don’t be afraid to evolve. And that’s what I was able to do. You got to put God first and do the right thing, even with the adversity you and your kids go through. You got to keep going. I mean, it’s kind of like with business because you can’t give up. You can’t give up on your family. So fatherhood is very important.
