The quickest way to become broke when you have money is to spend like it will always be there, and that’s where folks make mistakes. Yet, CMG Records honcho Yo Gotti has a different mindset.
The rapper and businessman recently appeared on Big Boy’s Neighborhood on Power 106 in Los Angeles. During the conversation, Yo Gotti told the radio personality that he “can’t afford” to fly private. Or at least that is what he tells himself to keep more paper in his pocket. He explained that he wants to save money, so spending like that would have the opposite effect.
“I don’t even fly private,” he said. “I can’t afford it. I fly first class, and I’m keeping my paper. I can’t afford it up here [in my head].”
But he did confess that some artists signed to his label do that—even singling out 42 Dugg for doing so.
“Some of em only fly private,” Yo Gotti states. “I was trying to get one of my artists to do some promo. He’s like, ‘It’s cool, I’m gonna fly private though.’ I’m like, ‘I don’t even fly private.’ Dugg young and turnt. He only fly private.”
Yo Gotti seems like he doesn’t want to follow in the footsteps of many recording artists who aren’t smart with their money.
He recently admitted that he almost lost 15 of his homes because he did not pay the property tax. He figured since he purchased the home with cash, he didn’t have to pay anything besides the maintenance.
“I didn’t even know you had to pay property taxes on a house that you’d paid cash for,” he said.
Luckily, he found out before the tax man came and learned a valuable lesson. From his recent interview, it seems like he won’t be broke anytime soon.
