Oct 21, 2022.
Rapper Lil Baby is trying to set himself up for generational wealth via multiple avenues, but that goal once cost him millions of dollars.
The spark: The loss can be attributed to Lil Baby’s dive into cryptocurrency. He once believed the space would be a safer bet than gambling. Therefore, he was open to exploring new ways to secure a bag.
The result: During an interview with Sway Calloway, the “Drip Too Hard” rapper shared that although he did earn some money, ultimately he lost millions of dollars from investing his dollars in cryptocurrency.
“I feel like I’ma win with investing and stuff. I’m a gambler already. That’s what I do on a way smarter level is gamble. To me, making investments is like a safer gamble. I actually lost millions investing in crypto. I made money in crypto before I lost it. It’s like an up and down thing,” Lil Baby said.
Taking a backseat from crypto: For now, Lil Baby is taking a backseat from crypto, but he isn’t making a formal exit just yet.
He continued: “I’m kind of on a back end right now for crypto. I got like a crypto team. I’m trying to see what’s what. Cause I’ll be just asking them like, ‘Is crypto dead?’ They’re like, ‘Nah.’ So my crypto people, they got a lot of faith in crypto still. So I’m not sure what’s going to happen with it.”
Despite the loss, Lil Baby isn’t slowing down. Instead, he’s finding different ways to make money, which is nothing new for the rapper.
Lil Baby is still pursuing other ventures: What’s more, he is still always on the lookout for a new opportunity to invest his dollars, big or small.
“I got a lot of ventures, a lot of ventures. I’m kind of addicted to that,” Lil Baby explained to XXL. “I had like a little stage where I was buying like chains. Then, I had like a stage, and I was buying my watches, and then, I had a stage [where] I was buying like cars. I started buying like houses. Then, I started like getting bored with that stuff.”
He continued: “I started wanting to figure out like how I’m gonna keep getting money forever, really. And I started learning about stuff and I’m like, wow. So, now, I don’t buy nothing, but I just invest my money. Like I get a opportunity, I’m trying anything. You feel me? Like, it sound like a bright idea? I’m trying it, you feel me? So, I got money and something in everything, like literally, from like small stuff to like big brands.”
Samantha Dorisca is a Houston-based journalist and photographer whose mission is to impact communities through the gift of storytelling using the written word or visual media. She completed her B.A at The University of Texas at Austin and is pursuing a M.A at The University of Memphis. Her work can be found on platforms such as Houstonia Magazine, Girls’ Life Magazine, and Blacque Magazine. Samantha mainly reports on tech, trends, and entrepreneurship.
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