After disappearing from the industry in 2009, Rapper Mims returned in 2016 with his award-winning app, produced in collaboration with manager Erik Mendelson and producer DJ Blackout. This app became the first step in Mims’ networth reaching millions.
Rapper Mims had a brief moment of success in his music career when his record This Is Why I’m Hot debuted at no. 1 on the Billboard Top 100 in 2007.
However, hearing that he received just $30,000 for the chart breaker when the record accumulated approx. $18 million shocked many, as the rapper Mims had invested over three to four times the money in production.
So, by his words, it is visible that even during 2007, Mims had millions of net worth to invest in his record as the sole producer, and the song was his entire entity.
Mims is setting his foot on trading and technology, as a source of income
Recently, on December 4, 2023, Mims participated in the Quantum Quest organized by TickTick Trader, with a cash prize of $25K, hinting that the rapper is on his way to a new journey.
In an interview, the rapper mentioned that he is pursuing trading for financial freedom. His words followed, “I’ve traveled the world, I’ve done a lot of things……now I am spending a lot of time with my son….these avenues allow me financial freedom.”
🌍 MIMS Explores Financial Freedom from Futures Trading! 🚀💸
— TickTickTrader (@tickticktrader) December 26, 2023
Continue your journey with MIMS into the world of futures trading! 🌐💫
Trading isn't just about profits; it's about creating opportunities for a better life, from essentials to quality family time. 💖🌟 pic.twitter.com/SJ7DcY7nIb
Before venturing into trading, Mims had a successful career as the founding member of the Record Gram app, the first app that connected producers and artists from within the reach of a pocket at a charge of $90 yearly.
The idea for the app came from Mims’s experience as an artist with Capitol Records in 2007. He and his then-and-now partner, Erik, said that the company paid Mims an advance of $850K for a roughly $18 million turnover.
But later, he received roughly $30,000 after giving a seven-figure hit to the company. Nonetheless, thanks to this, they started the start-up business.
For the production, they won the cash prize of $50,000 in TechCrunch’s Startup Battlefield-New York, landed on Apple’s Planet of the Apps, and earned $1 million.
Following this, Lightspeed Venture Partners invested $650,000 in the project, and Mims, along with his other two founding partners, held 70-75% of the app’s equity.
This statement can be enough to indicate that Mims, the rapper’s net worth just rose over the years, although the exact digits remain skeptical.
Additional Information
- Mims born Shawn Maurice Mims, is 43 years old, born on March 22, 1981.
- Per his partner Erik Mendelson, Mims and he have earned millions, and it is just their beginning.
- The marital status of Mims remains a mystery but he does have a son.
