Masters of rap could help bridge the financial literacy gap
This article is the latest part of the FT’s Financial Literacy and Inclusion Campaign
Rappers are probably not the people who spring to mind first, or even second or third, when you think about who you might turn to for financial advice. In fact, quite the opposite. In the popular imagination, they are seen as the epitome of reckless consumption — driving round in Bentleys, dripping with jewellery, swigging Cristal in hot tubs on superyachts.
Take Kanye West, who is reported to spend $500 a day on haircuts and have a recreation of the Sistine Chapel’s ceiling in one of his many homes — with him as an angel, naturally. And the list of bankrupt rappers is equally storied. Probably the best known is 50 Cent, whose studio debut Get Rich or Die Tryin’ was the bestselling US album in 2003. In 2015, he filed for Chapter 11 reorganisation before later paying off his $22mn debt and securing a discharge.
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This story originally appeared on: Financial Times - Author:Rhymer Rigby
