Nelly Is 'Shaking a Tailfeather' All the Way to the Bank. Rapper Sells Half of His Song Catalog for $50 Million. Hits like "Hot in Herre," "Dilemma," and "Shake Ya Tailfeather" were included in the sale.
By Sam Silverman •
Opinions expressed by Entrepreneur contributors are their own.
Rapper Nelly has something to sing about.
The Grammy-winner, 48, sold 50% of his song catalog for $50 million this week in a partnership with investment firm HarbourView Equity Partners, a source close to the rapper confirmed to Fox Business.
The asset management company purchased "select record assets" including songs "Hot in Herre," "Ride With Me," "Dilemma," and other hits.
In a statement to Variety, Nelly, whose name is Cornell Iral Haynes Jr., said he hopes the sale will keep his fans entertained with his music for years to come.
Since his start in the early 2000s, the St. Louis native has sold 21 million albums, according to Billboard. His debut album "Country Grammar" reached 10 million in sales and streams in 2016 and is certified Diamond.
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"As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry. 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."
The news comes as Nelly is set to hit the studio to record a new album called "Heartland 2" which will feature an "all-female collaboration," a source told Fox Business.
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"Heartland was the artist's first full country-inspired album that produced a triple platinum single, 'Lil Bit' as well as collaborations with Breland amongst others," the source said.
