The rapper Mims’ net worth touched millions after co-founding the app Record Gram and diving into trades

Mims has a brother named Kerry and a sister in his family since his parents died when he was a teenager.

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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.”

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.
Muskan Ghimire
Muskan Ghimire
Muskan Ghimire is an enthusiastic writer, editor, and blogger who likes to share updates on recent political, sports, and entertainment news. She has the writing and editing experience of more than two years. Over this time, she significantly enhanced her writing skills, crafting clear and engaging content. She has also accumulated in-depth knowledge in various niches, making her subject matter expert capable of editing with precision. With time, she has achieved SEO mastery, which lets her optimize content for search engines, improving visibility and ranking. Meanwhile, she has honed her communication skills, thanks to the continuous interactions with writers, bloggers, and show biz professionals, which led to new opportunities and collaborations.

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