Before releasing his new album, rapper Yo Gotti sat down with Complex magazine to drop some “Free Game” about finances.
In a clip shared on Instagram by The Neighborhood Talk, the Memphis native shared his perspective on what it takes to make and save a million dollars.
“It’s crazy because coming from where I’m from; we thought all we needed was a million dollars. We just wanted to become a millionaire — that means one million. Until you get it and that ain’t enough,” said the CMG CEO.
Gotti’s successful empire includes distributing music to the masses through his independent label, CMG, for a roster of talented artists. The 40-year-old, who has partnerships with Roc Nation and Interscope Records, also recently became a co-owner of Major League Soccer team DC United.
For those working toward their first million, Gotti advises, “Stay down and keep going but also understand that it’s easier to make the money. It’s harder to save it.”
“One, you gotta know how to save. Because you could have made a million, but you blew it was you were making it,” Gotti continued. “Most people [would] probably have a million dollars, if [their] money management skills [were] right.”
The “Rack It Up” rapper then acknowledged people who live beyond their means or people who spend their money as soon as they receive it.
“You get a couple thousand dollars, you go by a $100,000 watch. You spent half ya money on a watch. You made another $200,000, you spent another hundred buying Birkin purses or something.”
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