Entrepreneur and hip-hop artist Rick Ross learned about the power of investing in real estate by watching his mother, a registered nurse, purchase multiple properties.
“She would just keep buying houses,” Ross said in an interview with Forbes. “When you buy something, make sure you can touch it.”
Ross heeded the advice. Today, Ross is worth a reported $150 million. He’s enjoyed a career as a recording artist with five albums and as the founder of the record label Maybach Music Group, releasing albums by artists such as Wale and Meek Mill. In addition, he has invested in other businesses such as owning several franchises in the Wingstop and Checkers restaurant chains as well as Luc Belaire, a French sparkling wine. Finally, he has entered the cannabis industry with his brand, Collins Avenue.
Ross has also taken his mother’s advice and invested greatly in real estate.
Here’s a look inside Ross’ real estate portfolio.
A Stepping Stone To Greatness
In 2008, Ross purchased his first property in Georgia with a vision in mind. The home was close to boxer Evander Holyfield’s estate in Fayetteville and every day Ross passed by the home
“I looked at every curve and every up and downhill on the lawn. I was looking at the geese as I rolled by,” he told Forbes. “I did that for years until one day, I saw the red for-sale sign on the gate and made a U-turn.”
Ross hurriedly put in a bid for the estate and was able to purchase it for $5.8 million. Five years later, he purchased an additional 87 acres next to the estate for $1 million, allowing him to expand the estate known affectionately as The Promised Land.
Built in 1994, the 45,000-square-foot mansion boasted 109 rooms. There are 12 bedrooms and 21 bathrooms, a 350,000-gallon swimming pool, and a dining room that can seat 100 guests.
Also on the property are two bison, four horses, a bull, and several birds, much to the chagrin of his neighbors.
The estate was featured prominently in the film “Coming 2 America” as the Zamunda Palace. Ross hosts an annual car show and pool party for the public on the property.
Earlier this year, Ross purchased rapper Meek Mill’s Atlanta-area estate for $4.2 million cash. Meek Mill had been trying to sell the property for nearly two years when Ross decided to buy the three-story property that includes eight bedrooms, nine-and-a-half bathrooms, a tennis court, a media room, and a two-car garage.
Feels Like Home: Properties In the Miami Area
Ross was born in Mississippi and raised in South Florida. So it was no surprise when he began searching for property in the Miami Beach area.
In 2021, with the help of his mother and sister, Ross was able to settle on a residence in Southwest Ranches for $3.5 million. He purchased the property from NBA All-Star Amar’e Stoudemire. Sitting on 2.3 acres, the resort-style estate features an 8,600-square-foot mansion complete with six bedrooms and seven bathrooms.
Two years later, Ross purchased a residence in the exclusive Star Island for $37 million. His neighbors include Shaquille O’Neal, Jennifer Lopez and Diddy. The 40,000-square-foot residence includes six bedrooms and nine bathrooms. Located on the waterfront, the home has direct access to the ocean.
A Space In The Lone Star State
2023 was the year that Ross purchased three properties — one in Star Island, another in Atlanta, and the final in Houston.
“While others was buying Dogecoin and all that, man, I was buying real estate,” he said in an Instagram post.
Ross showed off the property with an Instagram post including photographs of himself outside of the home. He paid a reported $3.5 million for the property.