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Not every affluent musician can say they’ve also found success in entrepreneurship, but Snoop Dogg stands as one of those who can.
For several years, AFROTECH has reported on the plethora of ways that the legendary rapper has made feats as a businessman, including in companies across Web3, gaming, food, health and wellness, and more.
Up until now, Snoop Dogg’s ambitious endeavors have led him to a reported net worth of $160 million. The 52-year-old has built wealth for himself and generations to come. However, he recalled in an interview how his finances haven’t always been secure.
During a guest appearance on the “Business Untitled” podcast, Snoop Dogg explained how the expansion of his personal brand came after learning from his mistakes.
“I never try to do things that everybody else has done,” Snoop Dogg told the podcast hosts. “I always do things that I do…It’s a certain gift that I have and a skill that I acquired from doing bad business. For many years of taking the wrong deal or not looking over a contract or just jumping into a situation or using my name and likeness for the wrong reasons. Just becoming a better businessman and people around me that are smarter than me.”
As a result of said business moves, Snoop Dogg revealed that he once was advised to file for bankruptcy, but he was against it.
“It was times in my career where it got so bad where my accountant was like, ‘We should just do bankruptcy,’” he recounted. “And my pride got involved, like f—k that. If I say bankruptcy, then I look like I f—ked off everything.”
He continued, “They started telling me about, ‘Well this artist did it, and this person did it.’ I said, ‘None of them motherf—kers [are] Black. You ain’t name nobody that look like me.’ They can do that s—t and get back in the game, and it won’t look crazy.”
Following his own hiccups with his finances, Snoop Dogg is an avid advocate for schools to teach more about financial literacy. As he believes that the Black community is rarely taught about financial literacy, he shared how critical the knowledge can be for Black college athletes specifically.
“You got these athletes, you teaching them how to run routes, how to dunk and slam, do interviews and convert into analysts after they’ve finished their career,” he said. “How about teaching them how to be businessmen at the end of their career?”
For the future, Snoop Dogg envisions financial literacy courses being a part of the curriculum at schools nationwide and for sports leagues to take more initiative to support the movement and longevity.
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