Things have certainly been heating up for Nelly. The 48-year-old rapper just secured a $50 million deal for 50 percent of his music catalog.
The rapper has partnered with HarbourView Equity Partners in a deal that includes the purchase of "select recorded assets" from the GRAMMY winner's multi-platinum-selling discography, such as his most iconic tracks, "Ride Wit Me," "Dilemma" featuring Kelly Rowland and the smash hit "Hot in Herre."
HarbourView was founded by Sherrese Clarke Soares, an African American woman born to Jamaican immigrants. Soares has raised $1 billion from Apollo Global Management for HarbourView to invest in music catalogs, especially those from Black and Latin artists.
As for the catalog HarbourView just acquired for $50 million, it includes eight albums and dozens of hit singles, including several that reached #1 on various charts. For example:
"Hot in Herre": This infectious dance track from his second album, "Nellyville," topped the Billboard Hot 100 chart and won the Grammy Award for Best Male Rap Solo Performance in 2003.
"Dilemma": A duet with Destiny's Child member Kelly Rowland, this song also reached number one on the Billboard Hot 100 and won a Grammy for Best Rap/Sung Collaboration.
"Country Grammar": This was Nelly's debut single and it peaked at number 7 on the Billboard Hot 100.
"Ride Wit Me": Featuring City Spud, this single peaked at number 3 on the Billboard Hot 100 and helped establish Nelly's reputation for catchy, feel-good anthems.
"Just a Dream": This song from his 2010 album "5.0" reached number 3 on the Billboard Hot 100, demonstrating Nelly's longevity in the music industry.
"Over and Over": A collaboration with country singer Tim McGraw, this genre-blending track peaked at number 3 on the Billboard Hot 100 and showcased Nelly's versatility as an artist.
"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," Nelly said in a statement obtained by Variety. "I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now."
Facts:
Nelly's 2000 debut "Country Grammar" was a generation-defining album. It was one of the very last CDs everyone had to own. Country Grammar didn't go platinum. It went DIAMOND. That means more than 10 million copies sold. It is only the eighth rap album ever to go Diamond.
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