Will Pitbull-sized profits push rappers to prioritise portfolios?
You know Pitbull as the most ubiquitous pop star in the business. Aside from his own run of releases, he’s the rapper who has turned up on about 50 different singles over the past few years with artists such as Jennifer Lopez, Shakira, Enrique Inglesias, Michael Jackson and many more. If you’re after a lad to rap in English or Spanish on your tune and make it a bit of a whopper, the vibe seems to be that you call Pitbull.
It now appears that the man born Armando Pérez (known as Pit to his mates) has been wheeling and dealing like Wall Street stockbroker with the money he has earned as a rapper for hire.
There’s a fascinating profile of him in Businessweek that goes though his portfolio of investments and endorsements. The dollars that come in from his music selves to his brand.
It’s easy to see why corporates want a bit of the Pitbull panache. Like so many rappers who’ve done the crossover from the streets to the boardroom, such as 50 Cent and Jay-Z, Pérez can appeal to a fanbase that many brands are finding it hard to attract. By paying Pit a wad of cash, they get that access and don’t even have to listen to him rapping.
Sadly, though, the financial success of Pitbull and others means more and more rappers will be coming into the game thinking about their portfolio and business acumen rather than their flow. The old school has never felt so far away. and those ads for beer, soft drinks and cars are used to fund the Miami Subs Grill restaurant chain, a waterfiltration system called EcoloBlue and the Voli low-calorie vodka brand.
As the reporter notes, Pitbull is now “thinking about things other than partying, studio time and ladies”, given the interest companies are showing in attaching them-
Pitbull: rapping, rolling, wheeling and dealing