Hip-hop artist Rick Ross has proven he has a knack for business as much as he has for music.
Ross’s career seems to hit right out of the box. His “Port of Miami” debuted at No. 1 on the U.S. Billboard Top 200 albums chart in 2016 and made “Hustlin’” an instant hit with everyone singing the song’s hook– “every day I’m hustlin, hustling, hustling.”’
Ross proved not to be a one-hit wonder and racked up hip after hit, in the process creating an empire born through entrepreneurship.
Today, the Miami-based artist is worth an estimated $45 million. He made the Forbes list of Hip-Hop Cash Kings in 2017.
Here are 15 things to know about how Ross built his empire.
One way to stack up money is to be able to have various hustles. Ross is a top-selling artist; a songwriter, meaning he earns on publishing; he’s an entrepreneur with several money-making ventures; a record executive; producer; and CEO.
Ross founded Maybach Music Group in 2009. A division of the Atlantic Records Group, Maybach Music is home to such artists as Meek Mill, Omarion, Rockie Fresh, Wale, French Montana, DJ Khaled, Fat Trel, Tracy T, Gunplay, DJ Scream, Teedra Moses, Stalley, Magazeen, Masspike Miles, and Triple C’s.
Ross has released 10 studio albums and is Grammy nominated. He has sold more than 2,500,000 albums. He has earned nine new RIAA certifications. Four of those certifications are gold—“Thug Cry,” “Push It,” “Sorry,” and “9 Piece”—and five are platinum: “Aston Martin Music,” “Diced Pineapples,” “B.M.F. (Blowin’ Money Fast),” “Stay Schemin’,” and “Hustlin’.”
Ross has long been a celebrity ambassador for Luc Belaire’s signature rosé premium sparkling wines and champagnes. Ross, DJ Khaled, and others are spokespersons for Luc Belaire. Special edition bottles feature an image of his face.
Ross has authored two books, “Hurricanes: A Memoir” in 2020 and “The Perfect Day to Boss Up: A Hustler’s Guide to Building Your Empire.” His memoir made it to the revered New York Times best-selling list.
Ross owns more than 25 Wingstop franchises — aviation-themed restaurants specializing in chicken wings.
“I couldn’t believe it when I got to 10 Wingstop franchises. Then, we got to 25, but we are still expanding because Wingstop is doing so great,” Ross told Forbes.
He even gifted his 16-year-old son a Wingstop in September 2021 for his birthday.
“It was important to me the most, of course, is making sure he understands entrepreneurship, working for yours is the foundation of being a man,” Ross said in an interview with The Real TV show, Showbiz Cheatsheet reported. “What meant the most to me is him walking in and out of the Wingstop since he was 4 to 5 years old watching me chase my dreams. That was my way of rewarding him.”
The year 2020 was lucrative for Ross, he told Forbes. He made deal after deal despite the covid-19 pandemic. He partnered with Cookies, an international cannabis brand. Through Cookies, he launched three specially curated pot strains. He also invested $1 million into telehealth startup Jetdoc, making him an equity partner, advisor and spokesperson. On top of this, he worked with luxury car designer Rich B. Caliente and producer duo Cool & Dre to craft a Porsche 911 into a unique piece of car art.
As his wealth grew, Ross made plans on how to grow it.
“When I became a young millionaire for the first time, I went to my mother because she had always been a registered nurse and worked two and three jobs. She always bought real estate,” said Ross. “She came from Clarksdale, where the real estate was a lot cheaper. She would just keep buying houses. And I would say, ‘Mom, what do you think about the stock market?’ And she would say, ‘Son, I don’t really rock with the stock market. I don’t know much about it, but I know about real estate . . . So when you buy something, make sure you can touch it.’”
Ross owns an iconic home for which he paid $3.5 million in cash — a 2.3-acre resort-style estate in Southwest Ranches, Florida, located about 22 miles northwest of Miami. The 8,600-square-foot home has six bedrooms, seven bathrooms, two home offices, a gym, an indoor theater and a pool. The estate was formerly owned by the NBA All-Star Amar’e Stoudemire.
He also owns an estate in Fayetteville, Georgia, that he bought for $5.8 million in 2014 from boxing champ Evander Holyfield, and he purchased another 87 acres adjacent to the main estate in 2019 for $1 million.
“I looked at every curve and every up and downhill on the lawn. I was looking at the geese as I rolled by. I did that for years until one day, I saw the red for-sale sign on the gate and made a U-turn,” Ross told Forbes.
After he purchased the Fayetteville estate, Ross realized how much upkeep would be needed on the massive outdoor space.
“When I bought the Fayetteville estate, locals would see me walk out of a restaurant and scream, ‘You know Holyfield spent $1 million a year to cut the grass.’ So I decided that I was gonna cut my own grass. And that’s what I did,” said Ross.
He continued, “I went down to John Deere and asked to see the biggest tractor, the most efficient tractor. I told them I had 200-plus acres that I wanted to keep cut, and they pointed out the right tractor. I bought it right then and there. I bought the extended attachment on the back that would cut even wider. Once I got it back home, I filled it up with gas. I may have sat in the same spot for two hours before I got everything working, but once I got it going, I didn’t stop. I cut grass for about five hours.”
He rented out his Fayetteville estate for a film for $2.5 million.
The Georgia estate served as Zamunda Palace in Eddie Murphy’s 2021 sequel, “Coming 2 America.”
Ross calls the estate the Promised Land. He said it’s “where dreams come true. I like to have nicknames for everything. I have so many creative ideas for the Promised Land. I woke up one day thinking of building a gated community of homes. I’ve entertained the idea of creating a golf course. I thought of putting in an amphitheater. To have space to be creative, you need land. And I feel like there is value in real estate because the county is continuing to grow.”
Ross is said to be opening a wildlife zoo on the property that will save millions off his property taxes. He will have domestic and exotic animals. He already has four horses, two African lions, a cow, a bull, and two bison.
While he does have a huge car collection, jewelry galore, and expensive property, Ross cuts other corners.
“I don’t have a big jet. I try my best to fly Delta. I love swap meets and antique stores. I love finding beautiful things that cost $8 or $20,” he said.
When Forbes asked Ross what advice he pass down to investors, Ross answered, “The best advice I can give you is to invest in yourself. Whether that is time or energy, invest in yourself. When I’m sitting with young artists, I always tell them to spend their energy wisely. Your energy is more valuable than your money. So spend your energy wisely and make sure that whatever it is that you’re doing, do whatever you’re best at and master that. Whenever you do that, the work becomes easy.”
Photo: Rick Ross arrives at the 62nd annual Grammy Awards, Jan. 26, 2020, in Los Angeles. (Photo by Jordan Strauss/Invision/AP)/ An 85-foot infinity swimming pool at a $250M mansion in the Bel-Air, Los Angeles. Jan. 26, 2017 (AP Photo/Jae C. Hong)