Moneybagg Yo Net Worth 2023
How much is Moneybagg Yo Worth?
Moneybagg Yo is a prominent American rapper with much to say about his rags-to-riches life. From an impoverished upbringing in Memphis, he has become one of the most famous personalities in America’s rap scene. As of 2023, Moneybagg Yo net worth is estimated at $6 million.
Moneybagg Yo quotes include:
- “Inspiration comes with whatever’s going on in my life at the time.”
- “I feel like Roc Nation is a home. It’s more than just about music with them. They create different avenues for you to make money.”
- “I’m really so humble because I come from nothing.”
- “Hard work is really paying off.”
|Current location||Memphis, Tennessee|
|Education||Mitchell High School, East High School|
|Source of Wealth||Music, Entrepreneur, Diversified Portfolio|
|Relationship status||In a relationship with Ariana “Ari” Fletcher|
|Net worth||$6 million|
|Last updated||January 2023|
How much money does Moneybagg Yo make?
Here is an overview and rough estimate of Moneybagg Yo yearly, monthly, weekly, daily, and hourly income. Please keep in mind that the amount of money that he earns is taxable; in which, he falls under the highest tax bracket. Thus, financial planning plays a key role in establishing both short and long-term goals along the path to building wealth.
- Yearly Income: $1.5 million
- Monthly Income: $125,000
- Weekly Income: $29,000
- Daily Income: $4,100
- Hourly Income: $171
How did Moneybagg Yo get rich?
Moneybagg Yo was able to get rich by developing multiple streams of income from his earnings as an American rapper as well as entrepreneurial endeavors.
How old is Moneybagg Yo? Born DeMario DeWayne White, Jr. on September 22, 1991 (age 31), Moneybagg Yo spent most of his childhood in South Memphis, Tennessee. He is the eldest of three siblings raised by their single mother. Apart from this, not much else is known about his childhood.
In an interview with Rolling Stone last year, he said he grew up in the gutter part of the city. As he grew up, he could not bear seeing his mother struggle to raise him and his siblings. Because of this, he dropped out of high school and tried to help the family in any way he could.
Fortunately, Memphis was brimming with rappers of varying spectrums, some of whom had a similar upbringing. Having proven his commitment to succeed, Moneybagg Yo soon had a few encounters with names that would help him along the way.
One of these figures was a fellow rapper named ELO. There is not much info on this best friend of his, but Moneybagg Yo’s official website reveals that the two performed freestyle in the first few years of Moneybagg Yo’s career. ELO seriously believed that Moneybagg Yo had what it takes to make it big in the rap scene.
In 2015, he released Federal, the first of the Federal series of mixtapes. While it did not catch on as much as his later masterpieces, it did become popular around Memphis and the nearby areas.
Then, later that year, he received news that ELO, whom he had considered a brother, was shot dead. The details surrounding his death are still largely a mystery. But as some rappers attest, it is not unusual for rappers to be killed in hate crimes in their hometowns, especially when they grow in fame.
Instead of being discouraged, Moneybagg Yo eventually found the drive to push on, as ELO probably would have wanted of him. A year after the tragedy, he released Everybody Lives On, a mixtape whose acronym spells out his friend’s stage name. This fitting dedication found tons of listeners in North and South Memphis.
Everybody Lives On also provided proof that Moneybagg Yo is taking rap more seriously. In October 2016, he released 2 Federal, the first of his works to secure a spot in the Billboard Top 200 (97th overall, 48th in R&B/Hip-Hop). It is also the first release under two new labels, N-Less Entertainment and Collective Music Group (CMG), apart from his own label, Bread Gang Entertainment.
The album would set him up for another important figure in his life: Yo Gotti. Throughout Moneybagg Yo career, the CMG owner would become a mentor to him. Yo Gotti was mostly responsible for putting the plays together, as Moneybagg Yo shared, including Everybody Lives On.
The next installment in his Federal series of mixtapes, Federal 3X, saw significant success. With a total of 30,000 units (equivalent to 14,000 traditional albums) sold, the mixtape ranked among the top ten across the board. It broke initial predictions of between 15,000 and 20,000 units.
He shone even brighter with his first album, Reset, which sold 31,000 units (including over 4,000 albums) and was streamed more than 33 million times. It peaked at 13th in the charts and 8th in the R&B/Hip-Hop and Rap charts.
Weeks after Reset’s release, Moneybagg Yo formally converted to Islam, taking his shahadah or declaration of belief before fellow rapper Kevin Gates. Shortly after the ceremony (posted in full on Instagram), they dropped their collaboration track, Federal Pressure.
The next few years following his conversion would see him reach greater heights. His second album, 43va Heartless, peaked at 4th in the Billboard Top 200 and sold 40,000 units. In 2020, he released Time Served, his first work to receive a Gold certification from the Recording Industry Association of America (RIAA).
His latest album, A Gangsta’s Pain, is the first of his work to top the charts across the board, on top of receiving an RIAA Platinum award. Its selling point comes from integrating various music styles, notably Chicago drill and Atlanta trap music. The album was proof that Moneybagg Yo’s brand of rap could remain consistent as he tinkers with what is hot in the music scene. A deluxe version of the album featuring artists like DJ Khaled is currently in the works.
With his reputation cemented in the rap scene, Moneybagg Yo began looking for opportunities in other places. In February 2022, he announced the creation of the world’s first smokeable non-fungible token (NFT) via a collaboration with a cannabis branding firm and an NFT platform.
Known as Midnight Patek, this new business venture would offer 1/8 of flower and 1 gram of liquid diamonds oil for every purchase of the smokeable NFT. Buyers would get these items on the venture’s official launch on March 16, 2022, though limited to only 10,000 units. As to how successful this venture would be, it is still too early to tell.
Regardless, no matter where he looks for further success, Moneybagg Yo hardly hides his lavish lifestyle. Since dating social media personality Ari Fletcher in 2020, the rapper has gifted her an assortment of luxuries ranging from a Lamborghini Urus to a custom Rolls-Royce. Then, on his 30th birthday, he celebrated with an Instagram post featuring him surrounded by his car collection, including a Chevrolet Corvette C8, Dodge Charger SRT Hellcat Redeye, and a Mercedes-Maybach GLS.
Indeed, Moneybagg Yo is nothing less than a prime example of a rags to riches life. From the struggle to make ends meet for his family, he is now basking in tremendous wealth generated by his music. In the end, he can not take full credit for this achievement; he has his peers and the people of Memphis to thank for getting him this far.