Nelly just received a huge paycheck for making us move through the years.
According to an Afrotech report, close sources shared Nelly has joined forces with HarbourView Equity Partners to get an estimated $50 million in exchange for 50% ownership of his music portfolio.
The catalog includes eight albums and select song singles like “Ride Wit Me,” “Dilemma” and “Hot in Herre.”
“As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry,” Nelly said, per a Variety report. “My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”
He joins a number of other artists that have similarly sold their catalogs for a huge payout. As ESSENCE previously reported, this year alone, we’ve seen a slew of reports announcing deals being struck between musicians and purchasing entities, including a move few of us saw coming, the sell of Quality Control (QC)—the popular formerly Black-owned record label that’s largely responsible for the careers of Lil Baby, The City Girls and the Migos among other notables.