Building Wealth the Nas Way
Nasir bin Olu Dara Jones known globally as Nas, is a legendary rapper, songwriter, entrepreneur, and investor hailing from Queensbridge, New York. He has always been regarded as one of the greatest lyricists in history. Over his 30-year career, he has released numerous critically acclaimed and commercially successful albums, making him one of the most influential artists in hip-hop history. Nas has also been successful off the stage, as of 2021, his estimated net worth was around $70 million. However, many might be surprised to learn that the bulk of his wealth does not come from his music alone. He has also established an impressive portfolio as an entrepreneur and investor. From launching his own record label and sneaker store to co-founding a venture capital firm, Nas has proven that he is a master of diversification and strategic thinking.
Born in Brooklyn, New York, on September 14, 1973, Nas grew up in the infamous Queensbridge housing projects. Surrounded by poverty, crime, and a burgeoning hip-hop scene, Nas began writing poetry and rhymes at a young age. His parents, jazz musician Olu Dara and postal worker Fannie Ann Jones, heavily influenced his love for music and storytelling. Nas's debut album, "Illmatic," released in 1994, took the hip-hop world by storm and solidified his status as a wordsmith with a unique ability to vividly paint pictures through his lyrics.
Music and Film Endeavors
Throughout his career, Nas has released 13 studio albums, selling over 30 million records worldwide. He has won four Grammy Awards and received numerous nominations, highlighting his consistent impact on the music industry. Nas's influence is not limited to music, as he also ventured into filmmaking, producing documentaries such as "Time is Illmatic," "The Land," and "Nasir: The Film." In 1995, Nas co-founded Ill Will Records, an independent record label named in honor of his late friend, Willie "Ill Will" Graham. The label helped launch the careers of several artists, including Nas' brother, Jungle, and the hip-hop duo Bravehearts.
Nas the Venture Capitalist
While Nas's music career was thriving, he astutely recognised the potential of investing in startups, Nas co-founded the venture capital firm QueensBridge Venture Partners in 2013 a venture capital firm focused on investing in early-stage technology companies. QueensBridge has made dozens of investments over the years, some of which have gone on to increase dramatically in value. The firm's investments typically range in the $100,000 -$500,000 range. The fund receives over 100 pitches per month from new firms seeking capital. Some of QueensBridge's biggest investment hits include Dropbox, Lyft, SeatGeek, General Assembly, Robinhood, Casper, Pill Pack, Pluto TV, Coinbase and Genius. QueensBridge had a small slice of equity in Ring when it was acquired by Amazon in 2018 for $1.1 billion. QueensBridge earned $40 million from Amazon for his stakes in Ring and Pill Pack. In 2019, Viacom acquired Pluto TV for $340 million one of QueensBridge early investments. QueensBridge was an investor in Coinbase's 2013 Series B round which raised $25 million at a $143 million valuation. By the time Coinbase IPO'd in April 2021, QueensBridge's investment was worth between $35 million and $100 million.
Expanding His Business Empire
Nas's entrepreneurial spirit did not stop at venture capital. He has also established other businesses, such as the Mass Appeal media company, which includes a record label, a creative agency, and a magazine. In addition, Nas co-owns HSTRY, a clothing line that reflects his personal style and connection to hip-hop culture. His investment portfolio spans various industries, including healthcare, education, and consumer goods.
Nas is also a partner in the chicken and waffle restaurant Sweet Chick. The first location was opened in 2013 by John Seymour. Nas knew he wanted to be involved in the southern restaurant with a hip-hop flavor the moment he first walked into a Sweet Chick. Sweet Chick has locations throughout New York in places such as Brooklyn, Manhattan, and Queens, as well as one in Los Angeles and London.
In partnership with entrepreneur Nick Sakai, Nas opened 12AM RUN, a high-end sneaker and streetwear store in Las Vegas. This venture allowed Nas to capitalise on his love for fashion and sneakers while further diversifying his income streams.
The Philanthropist
Nas has always been passionate about giving back to his community. His philanthropic efforts include funding and supporting various charitable organisations. In 2013, he helped raise over $60,000 to fund the education of a single father in need, and he has also invested in companies like Exo, which produces sustainable protein bars made from cricket flour. Nas has also funded scholarships for underprivileged students and focuses on backing companies that align with his values and work toward social change.
5 Lessons you can learn from Nas
Embrace Your Roots and Identity: Nas' upbringing in the Queensbridge housing projects played a crucial role in shaping his music and storytelling. He has always been open about his background, using it as a source of inspiration and a tool to connect with his audience. Lesson: Embrace your roots and identity, and use them to fuel your passion and creativity.
Invest in Your Craft: Nas' debut album, "Illmatic," is often regarded as one of the greatest hip-hop albums of all time. The album was a result of years of hard work, dedication, and refining his skills as a rapper and lyricist. Lesson: Invest time and effort into your craft, and strive for excellence in everything you do.
Adapt and Evolve: Throughout his career, Nas has continually evolved his sound and style, collaborating with various producers and artists. This ability to adapt and reinvent himself has kept him relevant in a fast-paced and ever-changing industry. Lesson: Embrace change and continuously strive to grow and evolve in your chosen field.
Support and Uplift Others: Nas has consistently used his platform and resources to support and uplift other artists, entrepreneurs, and his community. He has signed and mentored emerging artists, invested in minority-owned businesses, and supported various charitable causes. Lesson: Use your success to give back and create opportunities for others.
Cultivate Longevity: With a career spanning three decades, Nas has achieved a level of longevity that few artists can match. This has been possible through a combination of talent, dedication, and smart decision-making. Lesson: Focus on building a sustainable career by staying true to your values and making informed choices.
Conclusion
Nas has navigated the worlds of music, business, and philanthropy with undeniable success. His journey from the Queensbridge projects to becoming a multi-millionaire exemplifies the power of perseverance, creativity, and strategic thinking. Nas's story serves as an inspiration for aspiring entrepreneurs and artists alike, proving that wealth and success can be achieved through hard work, talent, and a keen eye for opportunity. With an estimated net worth of $70 million, Nas continues to make his mark on the world and inspire future generations.