Grammy-winning rapper Nelly is set to make a huge financial gain as he recently sold 50% ownership of his entire music catalog for a whopping $50 million.
Sources close to the artist revealed that he struck a deal with HarbourView Equity Partners, a company that specializes in music rights acquisitions, TMZ reports.
The deal includes Nelly’s impressive discography, spanning eight albums and numerous chart-topping singles that played a significant role in shaping pop culture during the 2000s.
Some of his biggest hits, such as Ride Wit Me, Hot in Herre, and Dilemma featuring Kelly Rowland, were included in the sale.
Not only did these songs dominate the charts, but they also brought Nelly multiple Grammy Awards.
His collaboration with Kelly Rowland on Dilemma won him the Grammy for Best Rap/Sung Performance in 2003, while his solo track Hot in Herre earned him the award for Best Male Rap Solo Performance the same year.
Nelly also added another Grammy to his collection for his contribution to Shake Ya Tailfeather.
While specific details of the deal remain undisclosed, the acquisition secures the rights to a substantial portion of Nelly’s catalog.
Beyond the aforementioned hits, it is expected that there are more valuable tracks that now fall under HarbourView’s ownership.
The $50 million deal represents a significant financial milestone for Nelly, adding to his success in other areas of his life.
The rapper has been thriving in various business ventures, including his popular alcohol brand, MoShine.
With his music catalog partially sold, Nelly is poised to enjoy the fruits of his musical legacy while also exploring new opportunities.
The deal not only showcases the enduring value of his music but also solidifies his status as a prominent figure in the music industry.