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Does Rick Ross Really Have $92 Million In His Checking Account? Random Celebrity Article By Brian Warner on March 5, 2014
ver the last few days we've received a few angry emails and comments from Celebrity Net Worth visitors who believe our estimate for Rick Ross' net worth is way too low. We currently have Mr. Ross at $28 million.
Not exactly a pittance, but according to the angry emails, this number
should be raised to $92 million. More precisely, they think the number
should be raised to $92,153,183.28. Where are people getting this number? None other than Ricky Rozay himself! Here's what's going on…
On March 3, 2014, Rick Ross
released his sixth studio album "Mastermind". The third track of the
album is called "Drug Dealers Dream". Not to be picky, but the word
"Dealers" in that song title should technically be "Dealer's". That's a
possessive noun. This track starts out with an audio recording of one of
those automated voices reading a bank checking account balance. The
automated voice dryly states: "Please hold while I locate your
information. Your checking account balance is $92,153,183.28. This
reflects the most current information available on your account." You can hear the track and the song opening on this Spotify embed:
(For this to work you need to have a spotify account, and the app will open if it isn't already)
Clearly the implication here is that Rick Ross called up his bank,
selected the option to check his account balance and then recorded the
results. All $92 million worth of results. But is this possible? Could
Rick Ross really have this much money sitting in checking? Is he
following the Floyd Mayweather savings and investment plan? (A few
months back, Floyd Mayweather showed a reporter his ATM receipt that had
a checking account balance of $125 million.) Or is this just a run-of-the-mill rapper exaggeration?
First off, if somehow this brag is true, keeping $92 million in a
checking account would be a colossally stupid way to allocate money.
Checking accounts might AT MOST earn around 0.50%
interest nowadays. The national average is probably closer to 0.10%.
Splitting the difference, Rick would be earning just $184,000 in
interest per year off his massive wealth. That's not nothing, but as any
basic financial planner would explain, taking the money out of checking
and putting it into mutual funds, ETFs, maybe a few stocks, should
conservatively be able to yield a 5% rate. That would bring Mr. Ross
$4.6 million a year from interest alone. If he got lucky with the right
hedge fund, Rick might be looking at $10-$15 million.
big problem with keeping that much money in checking is the fact that
only $500,000 is insured by the FDIC. If Rick's bank goes under, which
as well know isn't exactly impossible nowadays, Rick's money would
evaporate overnight without any recourse.
Ok so we've established
that keeping $92 million in checking is clearly a bad idea. The more
important question is whether or not Rick Ross actually has $92 million
in the first place. Our current estimation of Rick's net worth is $28
million. That number might go up in a few weeks when we release our
annual list of the richest rappers
on the planet, but we're talking about a bump of maybe $5-6 million.
Definitely not $62 million. Don't trust us? Well according to Forbes,
which we think is a little too conservative with their estimates, Rick
earned $6 million in 2012 and $9 million in 2013. That's a grand total
of $15 million during what were arguably Rick's peak earning years to
Let's also keep in mind that in order to have a checking
account balance of $92 million, Rick would conceivably needed to earn a
little less than twice that amount before taxes. And that's before he
spent a dime on cars, jewelry, houses, private jets, vacations… and
biggest expense of them all for Rick: Food. Even if Rick was the most
penny-pinching saver in the world, we're still talking about $200-$250 million
in earnings over the last 3-4 years, in order to be left with such a
gargantuan bank account. Unfortunately, this isn't reality. Even for Mr.
Maybach Music himself.
In conclusion, it's pretty safe to say that this is simply one rapper making an extremely over-exaggerated brag.
Salute to Rozay!! That hating shit getting old my nigga, see all the real niggas world wide fuck with this nigga, It's mostly lame niggas and lil bitch ass white boys that hate on Rozay.. Dude is not hiding from his past the nigga was a c.o that was putting work in the jail for his homies but y'all niggas wouldn't understand that shit!
I can't wait to see what y'all lame hating niggas say when Master Mind come in 1st place on the charts next week...
WWE ass niggaz. Jeezy was just there with 50 and that MMG chain. smh
No one cares!! Press play and enjoy the music. Fuck all that other shit.
lol, they wanna leave comments as historic as the raps they want boosie to spit