Soulja Boy's Net Worth: The Rapper Is Worth More Than You Think
Soulja Boy, a rapper known for hits like "Crank That (Soulja Boy)," is worth roughly $30 million, per Celebrity Net Worth. Throughout his career, he's taken pride in his accomplishments and hasn't been afraid to admit it. For example, the rapper took to Twitter in February 2021 to reiterate a claim he's made for years about being the person who invented going viral. Many people agreed with the "Gucci Bandanna" creator, considering he made his claim to fame after posting his music video for "Crank That (Soulja Boy)" on YouTube in 2009. As of May 2022, Soulja's video has over 500 million views on the platform. The popular song and dance would become a cultural phenomenon that would later open doors for viral dances such as the "Milly Rock" and the "Renegade" challenge.
But what other ventures has Soulja been involved in? While his music has made him some money, his considerable net worth seems to have come from his diversification of interests in various industries. He's been able to use his fame to gain big partnerships, like in 2016, when he inked a deal with World Poker Fund Holdings. At first, Soulja said he signed a $400 million deal with the company, though it was later revealed that the deal was based on the company's rather optimistic future projections, according to Forbes.
So, just how did Soulja earn that reported $30 mil, and how does he spend his well-earned cash? Let's find out.
Soulja claims he's YouTube's first rap star
Here's a little hip-hop history for you: '80s New York rapper Rakim is often credited with revolutionizing the art of lyricism. It's also been said that Roxanne Shanté opened the door for other female hip-hop stars like Nicki Minaj and Cardi B. So what does all that have to do with Soulja Boy? Well, he's also pried open the doors for other rappers. His contribution? He was one of the first hip-hop artists to become famous by posting YouTube videos, allowing other rappers to launch their own careers via the internet.
Soulja was definitely on top of the YouTube trend. The platform officially launched on December 15, 2005, per Insider, and it's said that Soulja posted his first video three months later. While that may be true, Soulja's assertion of being the first successful rapper of the digital age has been disputed. In 2021, Philadelphia rapper Reed Dollaz claimed that distinction, which radio station Hot 97 reported. Others have also backed up Reed's claim.
Either way, Soulja is still largely considered YouTube's first rap star, which he talked about with Revolt in 2021. During that interview, the boisterous rapper said that he didn't make any money on YouTube in the early days, even though his songs had millions of views. But once a revenue program was in place, the company cut him a massive check.
He's earned a good deal from ringtones
Not only did Soulja Boy use YouTube for success before many others, he did the same with ringtones. Back in the mid-'00s, when Soulja was first making a name for himself, it was super popular for someone to download a song to use as a catchy ringtone for their cellphones. Understanding the business potential of this, every time someone downloaded one of Soulja's songs to use as a ringtone, he cashed in.
So just how much did the Chicago-born rapper make off these ringtones? Millions, according to an interview he gave on "The Breakfast Club" in 2021. And that was just off his smash single, "Crank That." Soulja explained to the hosts that he receives 100% of the ringtone profits and his label, Interscope Records, doesn't get a cent. Not too long after "Crank That" was released, Nielsen RingScan said the song had been downloaded as a ringtone 2.4 million times, per Reuters.
"Off that one song I'm straight," Soulja said about "Crank That," meaning he's financially set. "And I dropped more hits after that. ... I could've just stopped at 'Crank That,' invested in a couple of things and chilled. I wasn't here for the short term. I always thought long-term, longevity. I'm in this for the long haul."
Soulja Boy launched his own video game console
From starring in music videos to launching video games. That's what could be said about Soulja Boy, who released the SouljaGame Console and SouljaGame Handheld in 2018. He introduced the products on his Souljawatch web store, as XXL specified.
The console, which reportedly came preloaded with 800 games, went for $199.99, while the handheld device, which could run 3,000 games, cost $149.99. Based on a now-deleted tweet from Soulja, he sold 5 million of the consoles and handhelds. The rapper is famous for bending the truth, however, so make of that claim what you will. Soulja has also said that Google and Nintendo were interested in purchasing his devices.
Talk of the Google and Nintendo acquisitions soon ceased, though, because the console and handheld were taken off the market three weeks after being released, per TechCrunch. The "Pretty Boy Swag" rapper didn't go into detail about why the devices were removed, but he did reveal he was forced to pull them. In late 2021, Soulja then claimed that he bought Atari, the video game company that was popular in the '80s. Atari soon shot down the idea on Twitter, which Soulja was none too pleased about. Eventually, the former teen star made a clarification about owning a stake in Atari, as opposed to owning the company itself.
He got into the cryptocurrency game
"SouljaCoin." That's what Soulja Boy named his cryptocurrency while explaining that he needed help launching it. The seemingly ambitious artist also said that he was eager to avoid a not-so-nice visit from the U.S. Securities and Exchange Commission. "Who can help me make SouljaCoin a real thing without getting into any legal trouble with SEC etc.. like real and legit. I think this could be big Idk. Contact me, thanks," Soulja tweeted on January 29, 2021.
Dallas Cowboy running back Ezekiel Elliott was one of the people who responded, telling the rapper that he sent him a direct message on Instagram. Then as time went on, Soulja asked more questions about the cryptocurrency game. In January 2021, for example, he asked his Twitter followers which companies were best to buy crypto from, Robinhood or Coinbase.
Unfortunately for the tattooed rapper, he was named in a class-action lawsuit involving cryptocurrency, along with other famous people like Jake Paul and Backstreet Boy Nick Carter. They were all accused of attracting investors by using a pump-and-dump scheme, which Cornell Law School defines as, "A type of stock fraud involving the use of false or misleading statements to increase stock prices and then sell the inflated stocks to the public." As of May 2022, the suit hasn't been resolved.
Soulja has many, many products
So, with his SouljaGame console and SouljaCoin cryptocurrency, you've probably figured out by now that Soulja Boy is into branding himself. But those are far from the only things he's slapped his name on. In 2018, he released his own watch called — what else? — the "Soulja Watch." The serial entrepreneur launched a pineapple soda with the company Exotic Pop as well. And for those who don't dig carbonation, he released a pineapple lemonade option.
Soulja also invested in The Soap Shop, based in Mississippi. In 2020, a TMZ source said the company, which sells various types of soaps and cleaning products, had a 3,000% sales increase at the start of the COVID-19 pandemic, so he most likely made quite a bit of cash from that venture. After news of the soap investment made headlines, Revolt reported that the rapper started his own weed brand called "Soulja Exotic." That was months before he released his own sneakers called "Soulja Stars," which launched at $279.
Boy, talk about diversifying.
He cleaned up on music and shows
Remember what Soulja Boy said in that interview on "The Breakfast Club," that he made many millions off his 2007 single, "Crank That"? While it may be true that he embellishes the truth sometimes, on this one, there's proof to back up his claim. In the year after "Crank That" was released, Nielsen SoundScan showed the song was downloaded 3.86 million times, per Billboard. Plus, it's safe to say that people will continue to download or license the cut for years to come, since it was such a commercial hit.
His debut album, meanwhile, "Souljaboytellem.com," sold 949,000 physical copies by 2008, and — similar to the downloads — the sales continued for years to come. As ASCAP shows, an artist can make between 10% to 25% on physical record sales in a standard record deal. But even though that number seems paltry, that person makes even less on streaming. In fact, most artists make below a penny per stream.
Since hitting the scene, Soulja has released a slew of albums, and — while none of them have reached the sales success of "Souljaboytellem.com" — he'll continue to make money from streaming, licensing, and physical sales. Of course, how much depends on whatever his contract stipulated. But if record sales haven't helped Soulja's pockets enough, his shows and concerts have. The rapper has been performing live since his teenage years.
Soulja landed a new record deal in 2021
In April 2021, Soulja Boy had a decision to make after his song "She Make It Clap" went viral and sparked a TikTok dance challenge, so he asked his Twitter followers for a little guidance. "Should I sign this major label record deal today or stay independent?" he tweeted. "She make it clap went viral without a label I get 100% of all the money. But I want my career at the next level. Idk."
It didn't take Soulja long to make up his mind, because six days after that tweet, another one came from Virgin Records, welcoming the "Kiss Me thru the Phone" creator to the label. Soulja replied with a simple thank you and a bunch of emojis.
Not surprisingly, the terms of Soulja's Virgin deal weren't disclosed. But if a standard deal was signed, he would get an advance of between $125,000 and $500,000 that would have to be recouped before he could make money off record sales. It's something that music industry vet and hip-hop artist consultant Wendy Day once broke down. However, there's a good chance that Soulja didn't sign a standard deal, since he came to the signing table with an established fanbase and a strong social media presence. Usually, when a veteran artist signs a new deal, that person has a lot more leverage to create a more lucrative contract.
He's a label boss
In the early days of the rap industry, the goal for many rappers was to simply get a record deal. In later years, however, ownership became the goal, whether it was artists trying to own their master recordings or — like Soulja Boy did — launching their own record label.
The "Big Draco" writer started his Stacks On Deck Money Gang label in 2004 and some of the artists he signed include Texas rapper Riff Raff and popular Berkeley, California rapper Lil B. Soulja is able to make money off those he has signed under the SODMG umbrella, whether it's from record sales, streams, or the controversial 360-deal, where the label gets a piece of everything the artist makes, not just their recordings.
In August 2021, it was reported that Soulja signed Chet Hanks, Tom Hanks and Rita Wilson's son, who's a rapper. Soulja signed the once-buzzed-about New Jersey artist Skinnyfromthe9 as well. The young label boss also earns from SODMG's online store, where he sells items like T-shirts and hats.
Soulja Boy did the reality TV thing
Over the years, as record sales went down for all musicians, they had to rely on other things to supplement their income. One way of doing that was to be on a reality TV show, something that Soulja Boy did well into his career. In 2014, he joined VH1's "Love & Hip Hop: Hollywood," which follows people living in or around Los Angeles while they navigate the entertainment industry and their lives. But Soulja abruptly left the show after saying it was beneath him.
"I've decided to quit Love and hip hop. I feel my brand is too big for the show now. It's too ratchet. I have my own new tv show coming soon!" he tweeted on October 3, 2016.
In 2018, it was announced that Soulja joined the cast of "Marriage Boot Camp: Hip Hop Edition," a series that shows romantic couples working on whatever issues they have with each other. Soulja was cast in both shows with his ex-girlfriend, Nia Riley.
He has a luxury car collection
Not every musician who pulls in a lot of money has a high amount of disposable income, since some have gone broke from just trying to maintain their opulent lifestyle. But from the outside looking in, it seems that Soulja Boy has a lot of money to spend without missing it, based on his luxury car collection.
For one, he has a Bentley truck, which in 2019 went for $230,000, according to Forbes. Soulja also purchased a Maybach SUV at one point, and the retail price for one of those bad boys was said to be $161,550 when he purchased it. The rapper and producer owns a red 2008 Lamborghini as well, which he once showed off on video. In that clip, Soulja said the vehicle has a high amount of sentimental value to him so he refuses to get rid of it.
The luxury car lover didn't have to buy all of his pricey vehicles, however, because singer, reality star, and businessman Ray J gifted him a fresh-off-the-lot McLaren for his birthday in 2021. Now that's a generous friend, wouldn't you say?
His tweets make money
Having a net worth of $30 million is already a flex. However, Soulja Boy isn't ready to stop claiming his bragging rights. In March 2021, the Chicago-born artist made yet another claim about his career, writing that he was the first rapper to sell one of his tweets.
In a twist of irony, Soulja sold a tweet that was asking how to sell his tweets as NFTs (non-fungible tokens). The tweet sold for an estimated $1,288 in a crypto tweet marketplace. Shortly after his first sale, he sold a few more of his tweets for a few thousand dollars, per Cryptopolitan.
Although Soulja is rightfully claiming to be the first rapper to sell his tweets as NFTs, he is not the first to ever sell a tweet. Notably, Twitter CEO Jack Dorsey put his first-ever 2006 tweet up for sale a few days prior to Soulja's announcement, per Be In Crypto. After a long bidding battle, the tweet sold for a jaw-dropping $2.5 million. Celebrities such as Lindsay Lohan, Mark Cuban, and Steve Aoki are also partaking in the sale of their tweets. Despite the NFT market being relatively fresh in March 2021 when Soulja sent the tweet, it looks like he cashed in early. Must be nice!