Snoop Dogg almost filed for bankruptcy

Snoop Dogg is an American rapper, songwriter, actor, and entrepreneur. His versatility has won him many hearts and followers not only in the United States but across the world. His career in music started after he was discovered by millionaire musician, rapper, and music producer Dr Dre.

Under Death Row Records, he released many classic rap songs. His debut album, Doggystyle, was released in 1993 and went on to debut at number one on both the Billboard 200 and Billboard Top R&B/Hip-Hop Albums charts.

Aside from music, Snoop has made a career in movies, starring in several films and also producing. He also came to have commercial endorsements including Boost Mobile, Chrysler 200, Orbit Gum, and St. Ides.

The rapper’s success with the microphone, coupled with other economic ventures, has equally brought him a fortune, making him one of the highest earners in the industry. Based on speculative estimates from various sources, Snoop has a net worth of $150 million from his earnings in music, endorsement deals, and other business ventures he has stakes in.

One of his first economic ventures was a pet wear line called Snoop Doggie Doggs and he is also behind Casa Verde Capital, one of the first venture firms established to focus on the cannabis industry. The rapper is also a wine investor; he recently released his first brand, Snoop Cali Red.

The road to success did not come easy for the rapper-turned-entrepreneur. Speaking on the “Business Untitled” podcast, Snoop Dogg recalled how he almost filed for bankruptcy due to some of the business moves and decisions he took.

“It was times in my career where it got so bad where my accountant was like, ‘We should just do bankruptcy,’” he recounted. “And my pride got involved, like f—k that. If I say bankruptcy, then I look like I f—ked off everything.”

“They started telling me, ‘Well, this artist did it and this person did it.’ I said, ‘None of them muthafuckas Black! You ain’t name nobody that look like me!’

He added: “They can do that shit and get back in the game and it won’t look crazy. When we do it, ‘Oh, that n-gga fucked off his money, he ain’t shit.’ So now we gotta start three feet behind the line again.”

Snoop believes that there should be more teaching of financial literacy in schools, especially among athletes.

“You got these athletes, you teaching them how to run routes, how to dunk, do interviews and convert into analysts after they finish their career; how about teaching them to be businessmen at the end of their career?”

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