Master P invests into the Medical Marijuana Industry but fails, now suing for $25 Million in damages
in 2016 Rapper Master P decided to brand his own legal Marijuana business along with a Cannabis Company calling it, "Master P's Trees" in California, but instead it has costed him millions of dollars. After the Privateer reneged on the deal in late July this left Master P high and dry. Master P is suing for breach of contract and fraud, claiming Privateer never really wanted to work with him but rather get "an inside look into the urban and hip-hop demographic of cannabis users" for its own benefit.Percy Master P Miller is suing for at least $25 mil in lost profits and damages.
Aside from being a rapper, Master P has also enjoyed a successful career as an entrepreneur and investor. After the death of his grandfather, Miller inherited $10,000 as part of a malpractice settlement and opened a record store in Richmond, California called No Limit Records, which later became the foundation for his own record label of the same name. He has since parlayed his $10,000 initial seed capital investment into a $250 million business empire spanning a wide variety of industries. As a businessman, Miller was known for his frugality and keeping business expenses down and profit margins high. His shrewd business acumen allowed Miller to take his profits from one venture to bankroll the next venture.
Miller was one of the first rappers to notice and take advantage of the retail potential of the music industry. As an investor, Master P was one of the first rappers to build a business and financial empire by investing in a wide range of business and investment ventures from a variety of industries. He has since invested the millions of dollars he made from his No Limit record company into a travel agency, a Foot Locker retail outlet, real estate, stocks, film, music, and television production, toy making, a phone sex company, clothing, telecommunications, a jewellery line, auto accessories, book and magazine publishing, car rims, fast food franchises, and gas stations. His sports management agency No Limit Communications, a joint venture with marketing guru Djuan Edgerton, was a success.
His conglomerate company, No Limit Enterprises became a financial powerhouse. His real estate investment and property management company, the New Orleans-based PM Properties controls over 100 properties across the United States. According to Black Enterprise magazine, No Limit Enterprises grossed $110 million in revenue in 1998 alone. This level of success inspired other rappers to branch out into other business ventures and investments. Miller also has his own line of beverages, called "Make ‘Em Say Ughh!" energy drinks.Miller has also made a foray into mass media, where he founded Better Black Television, a cable television network in November 2010 based in New Orleans, making him the first rapper to establish a cable television network.