Rick Ross is an American rapper, songwriter, and producer. He took the hip-hop world by storm when he released his first single, “Hustlin’,” in 2006. Today, Ross is a household name and has built a multimillion dollar fortune.
It’s estimated that Rick Ross is currently worth around $45 million. While most of this money comes from his music career, Ross is also a successful producer and businessman. Read on to learn how Ross made his fortune.
What Is Rick Ross’s Net Worth?
With an estimated net worth of $45 million, Ross is one of the richest and most successful rappers in the entire world. Over the course of his career, he’s earned more than $90 million, with most of that money coming from his music and label.
Not only has Ross released several hit albums, but he’s had huge success on streaming platforms like Spotify. He averages nearly 12 million monthly Spotify listeners, which earns him hundreds of thousands in streaming royalties per month.
What Did Rick Ross Do Before He Was Famous?
People know him as Rick Ross, but the mogul’s real name is William Leonard Roberts II. He was born in Clarksdale, Mississippi in 1976, but grew up in Carol City, Florida, a suburb of Miami. Ross graduated from Miami Carol City Senior High School in 1994.
After graduation, Ross went to Albany State University, a historic black university. Ross enrolled on a football scholarship, playing as a quarterback and offensive lineman for the Albany State Golden Rams. In 1995, Ross dropped out of college and began working as a correctional officer.
In 2000, Ross signed with Suave House Records. During this time, he made his recording debut, appearing on the Erick Sermon track “Ain’t Shhh to Discuss.”
He initially recorded under the name “Teflon Da Don,” but took on the Rick Ross moniker in the early 2000s. Ross struggled to find success at Suave House and was released from his contract in 2002.
How Did Rick Ross Become So Rich?
After years of writing for other artists, Ross recorded “Hustlin,” the song that would make him a star. After moguls like Jay-Z and Sean Combs heard the track, it kicked off a bidding war. Ross eventually opted to sign a multi-million dollar deal with Def Jam Records.
“I was writing for others and wrapping for myself longer than others before I ever made a coin,” says Rick Ross. “Once we got in a position of power my negotiation was a little different.”
It was a massive deal for a new artist, but the gamble paid off. His first studio album, Port of Miami, debuted at number one on the US Billboard Charts, selling 187,000 copies in its first week. It became a runaway success and was eventually certified platinum.
His follow-up release, Trilla, was also a major success. The album sold 198,000 copies in its first week and spawned hits like “Speedin'” and “The Boss.” To date, it’s sold over 700,000 copies.
Ross founded his own record label imprint, the Maybach Music Group, in 2008. Its first release was Deeper Than Rap, Ross’s third studio album. Like his previous albums, it topped the Billboard Charts and spawned several successful singles.
After the album’s release, Ross shifted his focus to signing new talent. Some of the many successful artists that have released music through the Maybach imprint include French Montana, Omarion, and Wale. Several Maybach releases, including Meek Mill’s Championship, have been certified platinum.
Bringing His Label to Warner Bros.
Ross used the success of Maybach to kick off another bidding war, eventually bringing his label to Warner Bros. Records. The deal was short-lived, and Ross moved the imprint to Atlantic Records in 2012, where it remains today. During this time, he also signed a solo deal with Epic Records.
These deals gave Ross the opportunity to explore other business ventures. In 2011, Ross began investing in Wingstop, a popular fast-food chicken franchise. Ross owns several Wingstop locations and even gifted a Wingstop franchise to his oldest son for his 16th birthday.
While these projects have kept Ross busy, he’s never let them get in the way of his music career. To date, Rick Ross has released 11 studio albums, 145 soundtracks, and 40 music videos. He’s also released several mixtapes, appeared on many compilation albums, and put out the critically-acclaimed The Albert Anastasia EP.
What Does Rick Ross Spend His Money On?
A significant portion of Rick Ross’s wealth has gone towards his car collection. Ross is an avid car collector and owns more than 100 luxury vehicles. Some of the vehicles in his collection include a Rolls-Royce Wraith, Ferrari 488 Spider, and several classic models of the Chevrolet Bel-Air.
In addition to splurging on cars, Ross has made plenty of big-ticket real estate investments. One of his first major purchases was a 10,000-square-foot mansion in Fort Lauderdale. Ross purchased the mansion for $5.175 million and went on to sell it for $6.05 million in 2016.
After selling his Florida mansion, he began to build a real estate portfolio. He purchased 45,000 square foot, 109-room mansion in Fayetteville, Georgia for $5.8 million. Not only is the property the largest home in Georgia, but it’s one of the biggest properties in the United States. It was used as a filming location in Coming 2 America.
A Second Mansion
Ross purchased a second mansion for $3.5 million in Florida in 2021. The property, which was previously owned by Amar’e Stoudemire, includes a 7,361 square foot main house and a 1,314 guest house. Ross made headlines when he paid for the property in cash.
While Ross has made many luxury purchases, he’s also donated time and money to charitable causes. He regularly works with JetDoc, a telehealth company that’s dedicated to providing affordable healthcare. Ross pledged $1 million to the organization to ensure that Georgians would be able to visit the doctor for free.
What’s Next for Rick Ross?
While Ross is committed to discovering new talent, he’s still making music of his own. His final album with Epic Records, Richer Than I Ever Been, was released on December 10th, 2021. Ross is currently shopping for a new label and intends to release two new albums once a deal is signed.
Ross is also experimenting with projects outside the music world. In September 2021, his first book, The Perfect Day to Boss Up, debuted on The New York Times bestseller list. Ross wrote the book as an answer to questions he frequently receives on social media.
“Coming into the pandemic was what inspired this book, because I began spending more time on social media and would get four to five thousand questions a day,” explains Ross. “So I said let’s put together the boss commandments and give them the concepts and approaches of understanding things like partnerships.”
Ross also has a non-scripted show in the works at BET. While the show hasn’t been officially announced, reports say it will follow Ross as he tries out different activities.
It’s clear that Ross has left a permanent mark on the hip-hop world. He’s already had a long, successful career, but it’s likely that his net worth will only grow in the years to come.
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