While his parents may have named him Demario White, the Memphis streets know him as Moneybagg Yo. Just like so many other young Memphis upstarts, he was able to catch the attention of local legend Yo Gotti and parlay his hard work into a hefty payday.
Moneybagg Yo signing to CMG
The moment was captured on social media, as Moneybagg Yo’s signing to Gotti’s CMG imprint was cemented with the hand delivery of $200,000 to the studio while Moneybagg was hard at work. This deal increased his net worth to roughly $400,000. As reports that circulated prior to his signing pegged his net worth at around $200,000.
Moneybagg Yo first made a name for himself in the city of Memphis with the release of his first mixtape Relentless back in 2015. The tape began to circulate through the local streets, allowing his buzz to build. Federal Reloaded and Everybody Lives would drop soon after that. It featured guest appearances from a variety of big names, including Quavo, Young Dolph, Trouble and none other than Gotti himself.
Gotti even saw fit to release a collaborative project with Moneybagg Yo, entitled 2Federal. Once it became that the two artists had a serious level of chemistry. Gotti made the move to add Moneybagg Yo to his CMG stable, alongside Snootie Wild and Blac Youngsta. Moneybagg’s efforts were also recognized by the local media. He received the coveted Mixtape of The Year award at the Memphis Hip Hop Awards.
Unfortunately, Moneybagg ran into some untimely legal issues. A raid took place at one of his mixtape release parties to commemorate the completion of Federal Reloaded. 28 people were arrested that night, including Moneybagg himself. The police who arrived on the scene claimed that the party’s attendants were in possession of guns and drugs. The police also claimed that many of them were also active gang members.
Moneybagg Yo and CMG Future
Yo Gotti did sign to Jay-Z’s illustrious Roc Nation management team. So Moneybagg’s star is certain to rise by virtue of his close association to Gotti. The duo capped off 2016 with the release of the video for the 2Federal cut “Neva Again“, produced by the buzzing production group 808 Mafia. The video has received rave reviews for its stripped down aesthetic and Yo’s willingness to express gratitude for all of the blessings that he has been able receive.
Moneybagg Yo may have a few moments to forget in 2016, but he did not allow these obstacles to impede his will to succeed. Finally receiving the record deal that he has coveted for so long. Watching the head of his label develop a closer connection with none other than Jay-Z has given his career a boost. This makes it easy to see why his net worth is only going to continue to increase throughout 2017.
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