The hip-hop music veteran is securing the bag.
Rapper, actor and St.Louis native, Nelly, has agreed to sell a portion of his music catalog to asset management company, HarbourView Equity Partners.
According to the press release, Nelly, 48, will receive a significant payout of $50 million for fifty percent ownership of his entire music catalog. The deal includes some of Nelly’s notable tracks such as “Ride Wit Me,” “Dilemma” featuring Kelly Rowland, and “Hot in Herre.”
The equity firm cheerfully announced the news on their Instagram page.
“From the streets of St. Louis to the top of the charts! With over 21 million albums sold, 4 Billboard #1 hits, and 3 Grammys Nelly’s not just a rapper, he’s a living legend.” The firm added, “His magnetic stage presence and unforgettable lyrics have cemented his place in hip-hop history. Welcome to the family! 🙌🏾🔥”
Having a 30-year music career, Nelly excitedly commented about what the venture means for his legacy.
“As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry.” He continued, “My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”
Nelly debuted his first and most notable album, Country Grammar, in 2000. The widespread success of the album afforded him unprecedented popularity. He began to enjoy the fruits of success with his following albums including, Nellyville and Sweat. He recently expanded his music range with his eighth, country-inspired album, Heartland. The album earned Nelly a spot on the Billboard Top Country Albums chart and highlighted his versatility as an artist.
In addition to his albums, Nelly was and continues to be beloved for his distinctive and unique rap style.
A three-time Grammy winner, Nelly’s music catalog includes a total of eight studio albums and bundle of #1 singles. The terms of how his music assets will be split with the equity firm have not been shared.