Tag Archives: Business

Kobalt Signs Childish Gambino

Kobalt, a music and technology company built for artists, songwriters, publishers and labels as an alternative to the traditional music business model, announced that it has signed Grammy award winning, actor, comedian, writer, director, producer, singer, songwriter, rapper, and DJ, Donald Glover, a.k.a., Childish Gambino. The worldwide agreement includes publishing administration, including global synch and creative support services, for all of Childish Gambino’s future songs after the Awaken, My Love! album. In addition, Kobalt has signed Wolf + Rothstein, Glover’s musical teams of collective songwriters and artists for publishing administration, global synch and creative support services.

Said Kobalt Music SVP, Creative, Al McLean, of the deal, “Donald is one of those rare multi-talented artists who can do it all. It’s an honor to sign Donald and Wolf + Rothstein Collective to the Kobalt family.”

Emmy-, Golden Globe-, and Grammy-winning actor, writer, comedian, DJ, and rapper Donald Glover broke into pop culture mainstream first on the hit TV sitcom Community after serving on the writing staff of both The Daily Show and 30 Rock. In August 2011, he signed to Glassnote Records under his rap moniker Childish Gambino and has since released two albums. Glover also currently stars in the FX series Atlanta, which he also created and occasionally directs.

Operating out of Temple Studios in Los Angeles, Wolf + Rothstein is the creative agency comprised of Golden Globe and Emmy Award winner Donald Glover, Wolf Taylor, and Fam Rothstein, all whom worked with the band that helped compose the critically acclaimed Awaken My Love! Released December 2, 2017, Awaken My Love! and the chart-topping hit single “Redbone” are nominated for five Grammy Awards: Album of the Year, Record of the Year, Best Traditional R&B Performance (winner), Best R&B Song, and Best Urban Contemporary Album. Childish Gambino is set to perform on Saturday Night Live on May 5, 2018.

“Wolf and Rothstein is excited to partner with Kobalt for publishing,” said Wolf Taylor of Wolf + Rothstein. “We’re looking forward to growing the roster together.”

CNBC’S “WARREN BUFFETT: INVESTOR. TEACHER. ICON.” TO PREMIERE FRIDAY, MAY 4 AT 10PM ET/PT

ENGLEWOOD CLIFFS, N.J., April 26, 2018 – On Friday, May 4th at 10pm ET/PT, CNBC presents “Warren Buffett: Investor. Teacher. Icon.” a one-hour documentary reported by CNBC’s Becky Quick that examines Buffett’s role as a teacher who has profoundly affected people, both by his own example and through his life lessons. The program premieres the night before the Annual Shareholders Meeting of Berkshire Hathaway, the company that Buffett has led for more than 50 years and turned into a behemoth now worth almost half a trillion dollars.

More than just one of the most successful investors in history, Buffett possesses a rare blend of brilliance and common sense, which has made him a mentor and teacher to people around the world. For decades, the unassuming 87-year-old has imparted his wisdom in writings and speeches, in newspapers and on television, and notably, to the thousands of investors and devotees who make the pilgrimage to the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, each May. For the many who make the trip, and for the countless others who don’t, Buffett’s teachings are aspirational, meaningful, and even life-changing.

CNBC’s Becky Quick, who has been covering Buffett for more than a decade, meets a range of people whose lives have been influenced and changed by Buffett’s example and his teachings. Some are famous, and others unknown, everyday folks, some running small ventures, who feel a connection to one of the wealthiest people on the planet. Quick profiles an NFL superstar planning for life after football, a military veteran who did two tours in Afghanistan, and a young man who attributes his recovery from an opioid addiction in part to Buffett’s principles of ethics and integrity. Quick also visits the Hudson Booksellers at the Omaha airport, whose manager makes 20% of his annual sales during the weekend of the Shareholders Meeting by stocking up on books about, or recommended by, Buffett and his business partner, Charlie Munger.

“Warren Buffett: Investor. Teacher. Icon.” presents an intimate look at Buffett through the eyes of those who follow him closely, as well as from never-before-seen footage of Buffett visiting his old house and neighborhood in Washington, D.C., where he lived as a teenager and cultivated his entrepreneurial spirit, delivering newspapers.

Beyoncé Partners with charitable arm of tech giant Google

Beyoncé Partners With Google.org in Announcing Four More Scholarships for Her Homecoming Scholars Award Program for 2018-2019 Following Her Second Electrifying Headlining Show at Coachella

GOOGLE.ORG MATCHES HER ORIGINAL $100,000 GRANT, BEYGOOD URGES OTHER BUSINESSES TO DO THE SAME

FOUR NEW $25,000 GRANTS TO BE AWARDED TO STUDENTS AT TEXAS SOUTHERN UNIVERSITY, FISK UNIVERSITY, GRAMBLING STATE UNIVERSITY AND MOREHOUSE COLLEGE – ALL HISTORICALLY BLACK COLLEGES AND UNIVERSITIES (HBCUS)

Beyoncé, through her BeyGOOD initiative, announces a partnership with Google.org, the charitable arm of tech giant Google, to award four new scholarships as part of her Homecoming Scholars Award Program. The iconic performer also issues a challenge to other businesses to join Google.org in investing in excellence through education.

Google.org has matched the $100,000 grant Beyoncé announced last week, which will enable four additional HBCUs to receive $25,000 scholarships for the 2018-2019 academic year. The schools chosen are Texas Southern University, located in Beyoncé’s home city, Houston, Fisk University in Nashville, Tennessee, the alma mater of her father, Mathew Knowles, Grambling State University in Grambling, Louisiana and Morehouse College in Atlanta, Georgia. HBCUs are institutions of higher education in the United States that were established before the Civil Rights Act of 1964 with the intention of primarily serving the African-American community.

“Google understands the vital role historically black colleges and universities play in delivering a high quality and culturally responsive education,” states Maab Ibrahim, a Google.org program manager. “In the last several years, Google has launched innovative programs to close the distance between Silicon Valley and HBCUs; we are proud to continue that commitment by matching Beyoncé’s generous donation.”

“Partnering with organizations like Google.org in support of HBCUs is our way of elevating cultural touchstones that paint a clear picture of excellence and opportunity through diverse education,” states Ivy McGregor, Director of Philanthropy and Corporate Relations at Parkwood Entertainment, which houses BeyGOOD. “We challenge other businesses across the country to join us in this commitment to higher education and investment in the future.”

On Saturday, April 14, Beyoncé made history at the 2018 Coachella Valley Music and Arts Festival by becoming the first Black woman to headline in the festival’s 19-year run.

The jubilant set, housed on a pyramid stage with 150-plus cast members, dutifully in-sync, was the first time the icon returned to her home, the stage, in over one year.

The show, with its homage to excellence in education, was a celebration of the homecoming weekend experience, the highest display of college pride. The energy-filled production put the spotlight on art and culture, mixing the ancient and the modern, which resonated masterfully through the marching band, performance art, choir and dance.   It was the impetus to mark her second scholarship program.

“As a Morehouse graduate myself, I can attest that HBCUs provide both an excellent educational opportunity, as well as a community of support that lasts a lifetime,” says Steve Pamon, President and COO of Parkwood Entertainment, the company serving as the umbrella for Beyoncé’s production and business ventures.  “The lifeblood of that community is an annual pilgrimage to homecoming.  This scholarship program can ensure that more students will enjoy the HBCU experience that continues to enrich my life.”

A total of eight schools will now receive Homecoming Scholars awards for the 2018-2019 academic year, including awards previously-announced for Xavier University of Louisiana, Wilberforce University in Ohio, Tuskegee University in Alabama and Bethune-Cookman University in Florida.

One winner from each school will receive $25K for the 2018-2019 academic year for study in various fields.  This is the second year of scholars programs created by Beyoncé.

The Formation Scholars Awards Program, also a merit scholarship program, was established in April 2017 in celebration of the one-year anniversary of LEMONADE, Beyoncé’s critically-acclaimed and globally-lauded 2016 visual album.   The Formation Scholars awards encouraged and supported young women who are bold, creative, conscious, confident and unafraid to think outside of the box.

The Homecoming Scholars Award Program for 2018-2019 will expand to qualifying students at the universities, regardless of gender.  The disciplines will include literature, creative arts, African-American studies, science, education, business, communications, social sciences, computer science and engineering.  All applicants must maintain a 3.5 GPA or above. All finalists and winners will be selected by the universities. Winners will be announced this summer.

Photo Credit: Blair Caldwell

Lil Wayne stars in new Bumbu commercial!

Lil Wayne stars in a hilarious new commercial for Bumbu, a premium craft rum from Barbados.

It’s Wayne’s first major commercial since 2016, when his appearances in unorthodox ads for Apartments.com and Samsung went viral.

The Bumbu ad sees Lil Wayne partying with both beautiful women and goats – a visual pun on G.O.A.T., or “Greatest of All Time” – a moniker frequently used for the multi-platinum selling Wayne. The party kicks into high gear when Wayne asks someone to “pass the Bumbu,” which as the ad tells us, is the G.O.A.T. among the world’s best rums.

“Bumbu is a totally different kind of drink,” says Lil Wayne. “I fell in love with the bottle and the taste the first time I tried it. Now it’s Bumbu everywhere – in the studio, parties, the VIP. All my people are on this Bumbu now.”

Lil Wayne sports a “Bumbu Krewe” jacket – championing his elite “krewe” of rappers and tastemakers who drink and support Bumbu, a dark rum dramatically packaged in a stout glass bottle with an oversized cork and gleaming metal “X” icon.

The commercial is directed by Eif Rivera, whose resume of music videos includes Nicki Minaj, 50 Cent, Nas, Kanye West, and Lil Wayne. It was written in-house by Bumbu’s creative team.

Brett Berish, CEO of Sovereign Brands, owner of Bumbu, says: “Bumbu is a small-batch, limited production rum and we’ve been fortunate to have more demand than supply since it was first released. Lil Wayne was one of the first people to see it and became one of our earliest supporters. As Bumbu has grown and we’ve been able to bring it to new places around the world, making a video with Wayne was a fun and easy choice for us. It’s a perfect way to kick off our first-ever marketing campaign for this wonderful brand.”

Adds Wayne, “Bumbu listens to the streets. You have to. Like my businesses, there’s no outside agency speaking for Bumbu. This was a raw idea that made us laugh out loud. We had fun doing it. And that’s really what separates Bumbu as an independent company….probably why we get along so well!”

CLICK HERE for video and photo assets. Keep up with the news by following @OriginalBumbu on social media.

Flight Records Disprove Trump’s Claim About ‘Pee Tape’ Weekend Whereabouts

The president insisted he didn’t spend a night in Moscow. Records show he did.

Written By | Mary Papenfuss

President Donald Trump reportedly told former FBI Director James Comey — twice — that he didn’t spend a single night in Moscow when the infamous “pee tape” was allegedly made.

But Bloomberg and Politico have obtained flight records for Trump’s jet that indicate he actually spent two nights in the Russian capital when he traveled there for the Miss Universe Pageant in 2013.

A dossier of information about Trump collected by former British agent Christopher Steele claims that Russian agents secretly filmed Trump at the Moscow Ritz-Carlton that weekend as he instructed prostitutes to urinate on a bed that then-President Barack Obama had slept in.

The New York Times reported last year that Trump traveled to Moscow on a plane owned by casino mogul Phil Ruffin. Bloomberg and Politico obtained flight records for a Bombardier Global Express jet owned by Ruffin Development Expositions that left the U.S. on Thursday, Nov. 7, 2013 and landed at Moscow’s Vnukovo International Airport the following day. The jet left the city early Sunday at 3:58 a.m. after Trump attended the pageant.

Ruffin’s spokeswoman Michelle Knoll confirmed to Politico that Trump used the aircraft for his trip.

It’s not known which night the tape was allegedly recorded, but Trump’s bodyguard Keith Schiller testified last year that he turned down an offer from an unknown Russian to send five sex workers to Trump’s Moscow hotel room at some point that weekend, sources told NBC. Schiller said he kept an eye on Trump’s hotel room for a while, then went to bed himself.

Trump’s own social media accounts seem to support the argument that he was in Russia at least overnight. In one Facebook post, Trump poses in a photo outside Nobu Moscow on Friday, Nov. 8, 2013. The pageant was held on Saturday. On Sunday evening, Trump tweeted that he’d “just got back from Russia.”

After Trump became president, Comey said he warned him about Steele’s dossier, which had been turned over to the FBI. Trump denied spending a single night in Moscow. Comey told ABC this month that Trump responded by asking, “Do I look like a guy who needs hookers?” (Comey added: “I assumed he was asking that rhetorically.”)

Trump also said he’d “spoken to people who had been on … the trip … and they had reminded him that he didn’t stay over night in Russia,” Comey recalled in a memo. Trump insisted again later in the Oval Office that he “hadn’t stayed overnight in Russia during the Miss Universe trip,” Comey wrote.

In addition, Trump told his FBI director that he could never go for the “golden showers thing” because “I’m … a germaphobe,” Comey wrote in his memoir A Higher Loyalty: Truth, Lies, and Leadership.

If Trump deliberately lied to Comey, it could indicate “consciousness of guilt” and could bolster a case against him by special counsel Robert Mueller, former federal prosecutor Pete Zeidenberg told Politico.

Trump’s Miss Universe pageant has posed multiple problems for the president. The New Yorker reported earlier this year that Trump has used the pageant to cultivate potential business partners, including in Russia, where he hoped to build a Trump tower. In 2013, he cemented an alliance with father and singer son Aras and Emin Agalarov, who hosted the pageant in Moscow.

In the summer of 2016, a publicist for Emin Agalarov emailed Donald Trump Jr. offering damaging information about Hillary Clinton as “part of Russia and its government’s support for Mr. Trump.” Donald Jr. replied: “I love it” — and later attended a meeting at Trump Tower in Manhattan with a Kremlin-connected lawyer,  among others.

Drake Teases Alternate OVO School Uniforms for Miami High School

Written By | Emmanuel Maduakolam

Drake teases the OVO alternative school uniforms for Miami High School on Instagram. The Toronto rapper posted a photo of a white polo shirt with October’s Very Own running across the high school’s emblem on the upper right chest area. To the left of the emblem is a line from Drake’s “God’s Plan” that reads: “I only love my bed and my momma, I’m sorry.”

If you remember, for Drizzy’s “God’s Plan” video shoot the rapper filmed at Miami Senior High School. Drake filmed scenes in the school’s hallways and outside in a field atop a hydraulic crane, with some of the students acting as extras. Drake then donated $25,000 to the school and announced that all students would be getting uniforms he designed himself.

Check out the OVO x Miami High School uniform below.

As projects in Atlanta’s most amorphous district finish, more have been added to the 2018 development docket

Written By | 

In the first few months of 2018, many large projects in Midtown have begun to wrap up. But don’t fret, development wonks of Atlanta!

As ongoing projects have delivered, a variety of newly announced ventures promises to continue the development trend.

While the huge list of pending and proposed projects in the 1.2-square-mile Midtown Improvement District has diminished slightly from nearly 50 back in 2017, there’s still plenty of momentum in Atlanta’s hotbed for construction.

Here’s the latest rundown, in map form:

1 The Peach

PROPOSED—A long-abandoned midcentury office tower, seen by hundreds-of-thousands of commuters per day, is destined to be transformed into 107 residences. Known as “The Peach” for its distinctive rooftop adornment, the building is being overhauled by local firm Smith Dalia.

The Peach

2 SCAD dorm tower

UNDER CONSTRUCTION—Work has begun on a tiny sliver of land behind the SCAD facility on Peachtree Street to clear the way for an upscale new dorm. Plans call for the 14-story building to house nearly 600 students in about 100 units and be open in time for the 2020 school year.

SCAD

3 Boundary

PROPOSED—Parkside Partners has unveiled plans by ASD|SKY to revamp the structures north of 17th Street, combining 1389, 1401, and 1409 Peachtree into a single office structure with street retail. The project would also create a 300-foot linear park paralleling Atlanta’s main street.

17th_3.0

4 Ascent Midtown

UNDER CONSTRUCTION—The dual-tower project has nearly topped out, with the 14-story hotel (176 rooms) aiming to finish in summer 2018. The taller, 27-story residential tower with 328 units is expected to be complete in early 2019.

Ascent

1295 Spring Street NW

PROPOSED—After years of rumors and non-starter proposals, plans were revealed earlier this year for the major redevelopment of more than eight acres near Arts Center MARTA Station. The first phase of development on the “Metlife Site” calls for more than 500,000 square feet of office space and nearly 100,000 square feet of street retail.

Spring St

Interface headquarters

UNDER CONSTRUCTION—This project by Parkside Partners is transforming an existing three-story office building across the street from Arts Center MARTA Station. The building will serve as the headquarters for Interface and feature silhouetted trees on the glass facade.

HQ

Arts Center MARTA TOD

PROPOSED—Back in 2016, MARTA entered discussions to develop up to four high-rises above Arts Center Station in Midtown. Developers Cousins Properties and Integral Group have unveiled limited plans for the project, but there isn’t a timeline.

Arts Center

Alliance Theatre at Woodruff Arts Center

UNDER CONSTRUCTION—A major overhaul of the facility is underway, sprucing up the Alliance Theatre and providing new support spaces for the building’s 50th anniversary. Designed by Trahan Architects, the project should be complete in 2018.

Woodruff

Spectrum on Spring

UNDER CONSTRUCTION—Work is wrapping up on Pollack Shores’s five-story residential building next to the Connector. Designed by Lord Aeck Sargent, the building will bring 256 apartments and 13,500 square feet of retail.

Spring

Hampton Inn & Suites

UNDER CONSTRUCTION—After years of proposals and speculation, construction has restarted on a 19-story hotel, designed by Lindsay Pope Brayfield Clifford & Associates. If built as previously announced, the Hampton Inn & Suites would feature 169 rooms.

Hampton

Kim and Kourtney Kardashian Return Home After Visiting Khloé — and Their New Niece! — in Cleveland

Kim Kardashian West and Kourtney Kardashian touched down in Los Angeles on Thursday after a quick trip to Cleveland, where Khloé Kardashian gave birth to her first child — a girl! — earlier in the day.

The Kardashian siblings flew to be by their younger sister’s side for the birth after soaking up the sun on a girls’ trip to Turks and Caicos earlier in the week. Some of the pictures snapped during the trip were deleted from Kim’s Instagram account in the wake of a cheating scandal surrounding Khloé’s boyfriend Tristan Thompson.

Videos and photos of the 27-year-old NBA star kissing multiple other women surfaced in the final days of Khloé’s pregnancy, and Kim and Kourtney were there for Khloé as the news spread.

“They’re trying to keep her emotionally stable. The whole family is beyond pissed at Tristan,” a source told PEOPLE of her siblings’ trip to see Khloé, adding that the plan is to move her back to L.A. as quickly as possible. “The goal is to get Khloé out of there as fast as they can without jeopardizing the safety of the baby after she’s arrived. Khloé just wants to be home.”

Neither Kim or Kourtney have said anything publicly about their new niece yet, but sister Kylie Jenner and momager Kris Jenner have.

Kris, 62, confirmed the birth of Khloé Kardashian‘s baby girl on Instagram. “BLESSED!!” she wrote on Thursday along with a video of daughter Kendall Jenner repeatedly saying “baby” in a throwback clip from W magazine.

Kylie, 20 — a new mom herself to 2-month-old daughter Stormi — used a Snapchat filter to send her congratulations, sharing a photo of a long, winding road with a pink filter and the words, “Kongrats, Khloé! It’s a Girl!” along the border alongside pink balloons.

Trump on deal to protect ‘Dreamer’ immigrants: ‘NO MORE’

Written By | Darlene Superville

President Donald Trump on Sunday declared “NO MORE” to a deal to help “Dreamer” immigrants and threatened to pull out of a free trade agreement with Mexico unless it does more to stop people from crossing into the U.S. He claimed they’re coming to take advantage of protections granted certain immigrants.

“NO MORE DACA DEAL!” Trump tweeted one hour after he began the day by wishing his followers a “HAPPY EASTER!”

He said Mexico must “stop the big drug and people flows, or I will stop their cash cow, NAFTA. NEED WALL!” The U.S., Canada and Mexico are participating in tense negotiations over the North American Free Trade Agreement at Trump’s insistence. Trump says NAFTA is bad for the U.S.

“Mexico has got to help us at the border,” Trump, holding his wife’s hand, told reporters before the couple attended Easter services at an Episcopal church near his Palm Beach home. “If they’re not going to help us at the border, it’s a very sad thing between our two countries.”

“A lot of people are coming in because they want to take advantage of DACA,” he added.

Former President Barack Obama created the Deferred Action for Childhood Arrivals program to provide temporary protection and work permits to hundreds of thousands of immigrants who are living in the U.S. illegally after being brought here as children. Trump ended the program last year, but gave Congress six months to pass legislation enshrining it. A deal has so far proved elusive and Trump has blamed Democrats.

It was not immediately clear what Trump was referring to when he said people are coming to take advantage of the program.

The Department of Homeland Security is not issuing new permits, though existing ones can be renewed. The Obama administration allowed signups during a set period of time, and the program is closed to new entrants.

Proposed DACA deals crafted by lawmakers and rejected by Trump also were not open to new participants.

Trump did not explain what he meant when questioned by reporters as he entered the Church of Bethesda-by-the-Sea with the first lady and his daughter Tiffany. The White House did not immediately respond to a request for clarification.

Trump, when addressing reporters briefly before entering the church, again blamed Democrats for failing to protect the “Dreamers.”

“They had a great chance. The Democrats blew it. They had a great, great chance, but we’ll have to take a look because Mexico has got to help us at the border. They flow right through Mexico. They send them into the United States. It can’t happen that way anymore.”

Trump promised during the 2016 presidential campaign to build a Southern border wall to stop illegal immigration and drugs from Mexico, but Congress has frustrated him by not moving as quickly as he wants to provide money for construction.

The president also complained on Twitter that border patrol agents can’t do their jobs properly because of “ridiculous liberal (Democrat) laws” that allow people caught for being in the country illegally to be released while they await a hearing before a federal immigration judge.

Trump tweeted that the situation is “Getting more dangerous” and “Caravans” are coming. He did not offer details to back his comment.

The president’s tweets came after Fox News’ “Fox & Friends” reported early Sunday on what it said is a group of 1,200 immigrants, mostly from Honduras, headed to the U.S. The segment was a follow-up to a report by Buzzfeed News on hundreds of Central Americans making their way through Mexico in hopes that American authorities will grant them asylum or be absent when they attempt to cross the border.

The Fox headline was “Caravan of illegal immigrants headed to U.S.” The president is known to watch the cable TV program in the morning.

Brandon Judd, leader of the union representing border patrol agents, predicted on “Fox & Friends” that those in the caravan would create havoc and chaos in the U.S. as they wait for what he described as immigration reform. Judd also said Congress needs to pass tougher laws, an idea Trump appeared to echo, and create more bed space for immigration authorities to house people.

Ohio Gov. John Kasich, a Republican, chided Trump over the tone of the tweets.

“A true leader preserves & offers hope, doesn’t take hope from innocent children who call America home. Remember, today is Easter Sunday,” tweeted Ohio Gov. John Kasich, a Trump critic who challenged him for the 2016 Republican presidential nomination.

Arizona Republican Sen. Jeff Flake, another Trump foe, urged Congress to take up the fight for Dreamers.

“There are plenty of lawmakers on both sides of the aisle who stand ready to work with the administration on legislation to protect DACA kids who call America home,” he tweeted. “Let’s do it.”

Sunday’s church visit was Trump’s first public appearance with his wife since CBS’ “60 Minutes” aired an interview the previous Sunday with Stormy Daniels, the adult-film star who says she had sex with Trump in 2006, early in his marriage and a few months after Mrs. Trump gave birth to their son. The White House says Trump denies the affair. Mrs. Trump spent most of the past week in Palm Beach with her son.

The Trumps returned to Washington later Sunday.

Less Money, More Problems: Financial Lessons From Ace Hood

Written By | Zack O’Malley Greenburg

Shortly after rapper Ace Hood signed his first major record deal at age 17, financial planning wasn’t exactly at the front of his mind. He leased a new Cadillac Escalade and decked it out with 26-inch rims. He rented a three-bedroom condo in South Florida for $3,000 per month. And then there were the shopping trips.

“It was $1,500-$2,000 every time I hit the Gucci store,” he says, lounging poolside at the Dream Hotel in Manhattan. “I splurged and lived life how I wanted to live it. But anytime you don’t have a record out there that’s bubbling and you’re not doing much of anything, money runs low.”

Sure enough, the rapper’s free-wheeling ways only lasted so long. When his second album didn’t live up to its lofty sales expectations in 2009, he found himself spending much more than he was bringing in. He quickly lost his car, his apartment, some of his friends and nearly his career.

Today, though, things are looking up for Ace Hood. His latest album, Blood, Sweat & Tears, debuted at No. 8 on the Billboard charts; his lead single, “Hustle Hard,” is on the verge of going gold. But he’s still spending less than he did when his first album came out. The reason: a handful of valuable financial lessons he learned at the beginning of his career.

“Now, if I make $100,000 per month, I save at least $60,000,” he explains. “You definitely have to save for rainy days. You never know. It could rain, but then again it might storm. Hail might come. Maybe a tornado.”

Saving a big chunk of your take home pay, ideally at least one-third, is a rule of thumb championed by many financial advisers. To make room for those savings, it’s important to cut down on major expenditures, including fancy clothes and other luxury goods. That doesn’t mean you can’t enjoy your wealth; it’s merely a call for moderation.

In Ace Hood’s case, responsible spending meant replacing a gas-guzzling SUV—which he couldn’t afford when his lease ran out—with a zippy Chevrolet Camaro. He enjoys both vehicles, but the Camaro gets 29 miles per gallon on the highway, compared to the Escalade’s 18. The new ride makes cruising a lot more economical.

“I used to ride around for no reason,” he says. “I had a big truck, I didn’t care and I had money. I could ride all the way to South Beach come back and just chill.”

Better yet, he owns the Camaro. So there’s no danger of losing his primary means of transportation at the end of a lease, and therefore no risk of being unable to get to work in public transit-starved South Florida (the coupe, however, is a bit less convenient for transporting his two infant daughters and their accoutrements).

Another lesson: Don’t be afraid to ask advice. Ace Hood listens carefully to fellow Miami-based hip-hop veterans DJ Khaled and Rick Ross. Though Ross, a frequent member of FORBES’s Hip-Hop Cash Kings list, has been know to brag about “blowin’ money fast,” he and Khaled have told Ace Hood simply, “Make sure to save.”

Ace Hood also says he learned not to overspend on significant others. In 2008, he’d give his then-girlfriend as much as $800 every few days to fund extravagant shopping trips. No more.

“I did endure a lot of financial ups and downs,” he says. “And I thank God I was able to endure what I did when I was young, as opposed to me being much older. I was able to make it through.”