Nelly made serious bank recently after reportedly selling off part of his profitable catalogue for a whopping $50 million.
The hit-making rapper sold 50 percent of his music in exchange for the payout, sources close to him told TMZ.
Nelly (born Cornell Iral Haynes Jr.) reportedly sold the rights to the private equity firm HarbourView Equity Partners.
The 48-year-old musician joins the likes of numerous iconic stars who have sold their full or partial catalogues in recent years in exchange for quick payouts, including Bob Dylan, Neil Young, David Bowie and four out of five members of Fleetwood Mac.
Unlike some artists who have completely cashed out, the reported deal will still allow Nelly to profit from the other half of his catalogue.
Making bank: Nelly, 48, has sold 50 percent of his publishing rights to HarbourView Equity Partners for $50 million, sources told TMZ; seen in November 2022 in NYC
However, it is unclear if HarbourView Equity Partners now owns half of his songs, or if the firm will be getting 50 percent of the profits from his entire catalogue.
After scoring a major label deal in the late 1990s, Nelly broke out in the year 2000 with his hit debut single Country Grammar (Hot S***), which led his debut album, also titled Country Grammar.
The song was a top 10 hit on the Billboard Hot 100 singles chart, and it launched a string of hit releases from the album, which topped the Billboard 200 album charts.
His 2002 follow-up Nellyville was nearly as successful, and it spawned the perennially popular track Hot in Herre, which has become the rapper’s trademark song, thanks to its catchy hook and lush production by the Neptunes.
That album also featured the chart-topping duet Dilemma, which featured Kelly Rowland of Destiny’s Child, and the top 10 hit Air Force Ones.
Over his multi-decade career, Nelly has also scored three Grammy Awards, and is one of the best-selling rappers of all time.
But even though he’s cashing in on his most successful period, the hitmaker isn’t putting music behind him.
Instead, he’s pushing forward with the upcoming release of Heartland 2, a sequel to 2021’s Heartland, which saw him fusing country music with his brand of Midwestern rap.
Still has skin in the game: In addition to the payday, the rapper will continue to profit from the other half of his catalogue; seen January 20 in Perth, Australia
Not slowing down: He’s continuing to record new music with Heartland 2, a sequel to his 2021 country album Heartland; seen in 2021 in Atlanta
That LP featured collaborations with major country artists including Florida Georgia Line, Darius Rucker, Jimmie Allen and Kane Brown, among others.
It topped out on the Billboard 200 chart at number 45.
One of the biggest catalogue sales to date belongs to Bob Dylan, who sold the publishing rights to more than 600 songs to Universal music in 2020.
Although the amount the songs sold for was not disclosed, it has been estimated to be anywhere from over $200 million to more than $300 million.
Then, in 2022, Dylan sold his master recordings to Sony Music Entertainment for an estimated $150–200 million.
Neil Young followed Dylan’s example in 2021 by selling 50 percent of his publishing rights to the Hipgnosis Songs Fund in exchange for $150 million.
Several members of Fleetwood Mac have also gotten on the catalogue sales train, with Lindsey Buckingham, Stevie Nicks, Mick Fleetwood and Christine McVie all selling a significant number of songs for undisclosed sums.
Even dead artists have seen their catalogues sold off due to business decisions made by their estates.
The estate of David Bowie, who died of cancer in early 2016, sold his publishing rights to Warner Chappell Music in early 2022 for reportedly more than $250 million, according to Variety.
Selling at the peak: Bob Dylan sold his publishing rights for $200–300 million in 2020, and followed up by selling his master recordings in 2022 for $150–200 million; seen in 2019 in London
Leaving his options open: Neil Young followed Dylan’s example in 2021 by selling 50 percent of his publishing rights to the Hipgnosis Songs Fund in exchange for $150 million. However, he can still profit on the other half of his catalogue; seen in 2019 in Wisconsin
Cashing out: Stevie Nicks (L), Lindsey Buckingham (R), Mick Fleetwood and the late Christine McVie of Fleetwood Mac also sold much of their catalogues; seen in 2018 in NYC
Late payment: Dead artists’ catalogues have been sold by their estates as well. David Bowie’s catalogue was sold in 2022 for around $250 million; seen in 1973
Recent sale: The guitarist and composer Frank Zappa’s estate sold his catalogue and archive last year for $25–30 million
Won’t get fooled again: Paul McCartney, who had several of his Beatles songs bought out from under him by Michael Jackson in the 1980s, has expressed hesitation about letting go of his remaining holdings; seen in 2014 in Chicago
In 2021, David Crosby — who died in January of this year — sold his catalogue to Irving Azoff’s Iconic Artists Group.
More recently, the estate of the prolific experimental guitarist and composer Frank Zappa sold his publishing rights and his archives, which regularly pump out new posthumous releases, to Universal Music Group for an estimated $25–30 million, according to Billboard. Zappa died in 1993 of cancer.
Meanwhile, Paul McCartney, who famously had the rights to his Beatles songs snapped up from under him by his former friend Michael Jackson, who outbid McCartney when he tried to regain the rights in 1985.
On a 2021 episode of BBC Radio 4’s The Price Of Song, McCartney said he was ‘not keen to sell’ his solo songs after clawing back some of his Beatles recordings over the years.
