Friday, January 25, 2013
17 year old Chicago rapper Chief Keef gained his popularity as an independent artist, but that's all about to change! Last summer he inked a deal with Interscope Records, but the value of the record deal was unclear at the time. Recent legal documents indicate that it's worth 6 MILLION DOLLARS!
In the contract Chief Keef was given a three-album deal as well as partnership to his own label, Glory Boyz Entertainment. Keep in mind that this does not include future royalties, so Chief Keef technically has the potential to earn way more over time.
Since he's still a minor, the state of Illinois also mandates that a certain portion of his earnings are automatically placed in a trust fund. His current album, Finally Rich (which debuted last December) peaked at #29 on Billboard charts.
If Keef plays his cards right he could be rich for life! Hopefully he will stay out of the streets now that this music thing is official.