Interview: Master P Talks ‘Family Empire’, Generational Wealth And Molding Future Millionaires
As seen with the success of moguls like Dr. Dre, Sean “Diddy” Combs and Jay Z, being a dominant figure in hip-hop provides a platform to expand your brand and build multifaceted businesses. Standing at the forefront of rap allows these savvy entrepreneurs to leverage the genre’s cultural influence to penetrate multiple industries.
From launching fashion lines and spirit companies to purchasing tech startups and owning sports agencies, these renowned rap pioneers have consistently raised the bar, setting a new standard of possibility. Their stories of triumph are also remarkable and inspiring. Each had to overcome the struggles of poverty to accumulate wealth and reach the pinnacle of pop culture. With countless Grammy Awards, platinum plaques, world tours and history made, their legacies are sure to be discussed forever. Now, one of the most successful moguls in hip-hop history is committed to turning the next generation of game-changers into future millionaires, beginning within his own home.
Premiering on the Reelz Channel, Master P’s Family Empire welcomes the world into Percy “Master P” Miller’s life as a single father, guiding his five children along their paths through education, relationships, adulthood and entrepreneurship. With his kids ranging in age from 10 to 26, audiences get a first hand glimpse into the realities of raising a family while managing an enterprise. The original series highlights how Master P balances his work as an entrepreneur, philanthropist and hip hop artist, while placing top priority on his most important role – ensuring the growth and success of his lineage. “This show is about family business and building generational wealth,” Miller told Forbes. “To build generational wealth, I have to make my kids strong.”
Raised in the storied Calliope projects of New Orleans, Master P grew up sharing a small three-bedroom apartment with his brother, grandmother and her 12 children. Once considered among the most dangerous neighborhoods in America, Miller saw very few examples of prosperity beyond those in the streets hustling to make a living. Amidst an environment riddled with crime and violence, it was pushing through such adverse conditions that instilled a strong sense of integrity, work ethic and determination that fueled his hunger for achieving success. Pursuing his vision for a better life, Miller turned to his passion for music and basketball as the means to create opportunities.
As the founder of No Limit Records, the iconic rap imprint responsible for producing several superstars and chart-topping singles, Master P signed an unprecedented distribution deal, released a slate of multiplatinum albums, sold over 75 million records worldwide and established the most lucrative hip-hop label of his era. After dominating the genre for more than a decade, Miller further fulfilled his dream of playing professional basketball, landing NBA contracts with both the Toronto Raptors and Charlotte Hornets. “I come from a poor culture of people, nobody in my family had money,” Miller told Forbes. “I had to break the negative cycle and pass that on to my kids.”
Beyond his accomplishments in music and sports, Miller has also seen notable success as a filmmaker, investor and business consultant. In 2013, he ranked third on the list of richest people in hip hop with an estimated net worth of $350 million. “It’s not about how much money you have or make, but rather it’s about the mindset you have,” he stated. “If you’re broke in the mind, you will be broke — if you’re rich in the mind, you’ll be able to be rich.”
With Family Empire , Master P aims to prepare and position his kids to manifest their own definition of success and elevate to even greater heights. Taking a tough love approach that embodies more coaching than coddling, his parenting style is firm, honest and supportive. Whether helping his son produce a mixtape and work on his lines, or offering his daughter dating advice, Miller teaches his kids many of the invaluable lessons and guiding principles he’s picked up from his own experiences. “They need to understand economics, they need to understand integrity, and they need to understand being humble,” he stated. “They need to understand their character is really all they can take with them – if you give your word, you have to keep it.
SEE THE NEW TV SHOW “MASTER P FAMILY EMPIRE” on REELZ CHANNEL
see full article: http://www.forbes.com/sites/julianmitchell/2015/12/04/interview-master-p-talks-family-empire-generational-wealth-and-molding-future-millionaires/