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How Independent Hip-Hop Artist Tory Lanez Is Building Wealth Through Non-Music Income Streams

Hip-hop artist Tory Lanez believes in the power of freedom and entrepreneurship. The Canadian rapper recently debuted his latest album, “Say What,” and shared some insight on the power of independence. 

LOS ANGELES, CALIFORNIA – FEBRUARY 13: Tory Lanez attends Rolling Stone Live Big Game Experience at Academy LA on February 13, 2022 in Los Angeles, California. (Photo by Jerod Harris/Getty Images for MCM)

“I believe in myself,” Lanez recently told “The Breakfast Club.” “I’m about this money.” 

Lanez released his first album, “I Told You,” in 2016 with his first single, “Say It,” reaching No. 6 on the Billboard Hot R&B Songs Chart and No. 23 on the Billboard Hot 100 Chart. Since then, Lanze has released five additional albums and collaborated with artists such as Sean Kingston, Kid Ink, Slim Thug, Paul Wall, Meek Mill, and Yo Gotti. In addition, he is the founder of One Umbrella, a record label, and management company. Lanez’ current net worth is estimated at $4 million. 

Artistic and Financial Freedom  

Lanez is also a music and video producer and an independent artist. 

“It’s a lot of freedom,” he said. “You’re able to touch the money that the labels touch as an independent artist. You’re able to move freely.” 

As an independent artist, Lanez is able to have full control over his music. He is also able to reap the benefits of album sales and streaming fees without using the services of record labels. 

“Artists don’t understand how much money is out here,” he said. “As artists, you have the money to do it, so do it.”

In 2021, Lanez partnered with E-NFT, to release “When It’s Dark” as a non-fungible token. When the album launched, Lanez posted a video on Twitter proclaiming the album sold one million copies in under one minute and that one of his NFTs flipped for an estimated $50,000. 

Other Entrepreneurial Endeavors 

Although Lanez has always been an independent artist, his current legal troubles have made him become strategic in his ability to earn and save money. 

In 2020, Lanez was accused of shooting and wounding fellow rapper Megan Thee Stallion in the foot. The case is currently ongoing, with the trial slated to begin sometime in December. In the meantime, Lanez expanded his wealth through a variety of investments. 

“It woke up an energy in me that I’ve never experienced,” Lanez said. 

He is the current co-owner of the nightclubs Taboo Miami and Taboo 826. Finally, he is investing in the medical industry. 

“It’s in the medical field in a major way that’s going to affect our culture and community for years and generations after this,” Lanez said. 

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