While an album with The Migos may not be on the horizon, rapper Offset has other ways of generating income.
In a recent interview with Shannon Sharpe on Club Shay Shay, Offset shared how he has been able to make strategic investments that have paid off in a big way. One of his investments was made with an undisclosed company that develops avatars.
Did Offset Help Orchestrate a Major Investment Flip?
“I had actually listened to my mama…the dude was here in L.A. in Chinatown, and he was working out of his little apartment. She brought me to his apartment…he needed like $245,000, and now I can show you an article where it’s up to like $700 million.”
Sounds like an implausible feat. But before Offset could go into details about this particular investment, which seems to suggest that the company turned his $250,000 injection into $700 million for its bottom line, the conversation shifted. The talk went into how to protect oneself when making major money decision and the legal consequences.
“I feel like if you build with your lawyer like I talk to my lawyer, day to day,” he told Sharpe. “When I’m asking questions, and he knows like I’mma ask this question, and I need you to break it down into a way that I can understand, so I understand what I’m signing up to cause I’ve been a dumb artist before just signing because they get you with the money.”
So far, Offset’s investment choices seem to be working. The solo rapper, who started out with the trio Migos, until recently was thought have an estimated net worth of $28 million, some of that made from other investments.
Offset is an investor in FaZe Clan, an esports and entertainment company that was recently acquired by GameSquare Holdings. He has appeared in the company’s videos on YouTube.
Established in 2010, FaZe Clan is a leading professional esports firm based in California. In 2023, the company’s revenue surpassed $58 million, a major uptick of nearly $7 million compared to the preceding year, Statista reported.
Offset has also been a frontman for several fashion brands. Designers such as Gosha Rubchinskiy, Lavati, and Bryce Barnes have all included Offset in their advertising campaigns.
With his wife, fellow hip-hop artist Cardi B, Offset owns several pieces of real estate. In 2019, the couple purchased five homes in Jonesboro, an Atlanta suburb, for $201,840. They also purchased an adjacent lot for $48,080. In 2021, they purchased a $5.8 million home in Tenafly, New Jersey.
The Music Industry
Once Offset discussed his various investments, Sharpe shifted the conversation to Offset’s experiences in the music industry.
“I’ve been a dumb artist before, just signing sh*t,” Offset shared. “They get you with the money.”
Offset formed the group Migos with Quavo and the late Takeoff in 2008. Originally named the Polo Club, they released their first mixtape in 2011. By 2013, their popularity increased with the release of “Versace.” Their debut album, “Yung Rich Nation” was released in 2015 and reached the number three spot on the US Rap Chart. Their follow-up hit “Bad and Boujee” came in 2017 along with their second album, “Culture.” The following year “Culture II” was released. The trip toured heavily and along the way, Offset learned some valuable lessons.
“Knowledge is key,” he told Sharpe. “You can’t blame the system because the system will keep going. Before you give me the money, I’m gonna ask you. You have to understand the business terms. What are my deliverables and the time limit on my deliverables?”
