LaRussell has opened up his books to fans, sharing his recent financial struggles and showing how much money he lost at two recent shows.
Taking to Instagram on Wednesday (March 1), the “Baggage Claim” rapper shared a profit and loss spreadsheet from two shows this past weekend, referring to the ordeal as a “moment of transparency.”
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“I don’t always win, but I always take the risk,” LaRussell wrote on Instagram. “This weekend I did 2 shows. One sold out, the other did nearly 500 tickets. I STILL LOST MONEY.”
However, the rapper said the numbers were “typical for him” because he allows “people to pay whatever they want.”
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“I’m super grateful for those who really value my presence, pay extra and really take care of a n-gga. I put on an experience that I could easily charge hundreds for but I refuse to. This is the reality of how this shit goes. It aint always pretty, but it’s always beautiful.”
Check out LaRussell’s post below:
The Bay Area rapper isn’t the only artist being transparent about financial woes in Hip Hop. Last month, Bun B claimed rappers who sign with major labels are “balling in debt.”
In an interview on B High TV, the UGK legend recalled his experience with major record labels, including Sony.
“So, UGK was signed before, we were right there, but we took an advance on the last two albums so we had to wait,” Bun B said. “Because we took the advance in ’07 I think, we have to wait seven years after we hit that. There was a seven-year period when we took money after 2000, so once we hit 2027, I believe our balance is clear.”
He continued: “UGK has never made one dollar in royalties from the selling of our music and we didn’t have our own publishing for about 17 years.”
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Bun said he believed the numbers weren’t necessarily difficult to find out if you had a good attorney, and that he was still learning about the mathematics behind clearing UGK’s debt to Sony.
“Because I think UGK is still at least two million dollars in the red with that label,” he said. “It’s built on a percentage. This thing is never built on how much money your art makes, it’s about how much money you make of what your art makes.
