Between sports betting and online gambling games, Drake has been losing millions of dollars lately. What choices is he making that he’s sending so much money down the drain?
Man, it’s disappointing to see a successful artist like Drake take such a big financial L.
But it goes to show that the investing decisions you make affect everything.
Here’s a breakdown of what’s been happening, and what you can do to avoid making the same mistakes.
What did Drake do to lose MILLIONS?
First of all, Drake’s recent money loss wasn’t a one-off thing. Instead, it was a series of bad choices that he probably didn’t think through to the end.
For example, Drake seems to like playing around with sports bets. According to Fight Sports, he lost $550,000 on a UFC 274 bet in May.
Even more, this came after a $275,000 UFC bet loss back in March, when he put his money on Jorge Masvidal against Colby Covington.
As if that weren’t enough, about two weeks ago, Drake lost hundreds of thousands of dollars on a Formula 1 bet.
Vanity Fair reports that it resulted in a loss of more than $230,000, reflected in the Instagram story he’d posted at the time.
Now, just a few days ago, the rapper reportedly lost a massive $20 MILLION.
On what this time?
Online roulette games, according to Gambling News.
What’s the big lesson here?
Look, you don’t need a business degree or years of investing to understand what’s going on. Even though Drake is obviously a successful rapper, he could definitely use some work on financial decision-making.
I’ve told rappers a million times — don’t waste your money on stupid stuff. The cars, the jewelry, and in Drake’s case, betting and gambling.
When I talked to Rich the Kid, for instance, and he told me he wanted to blow $70,000 on a Corvette, this is what I told him.
WHEN YOU’RE 40 YEARS OLD, NOBODY IS GONNA REMEMBER THE CAR YOU DROVE IN 2020.
On the other hand, the smart thing to do with all that rap money would be to invest it in cash-flowing assets.
For me, those assets are apartments, and they pay me every single month.
Why would you waste money instead of having it all come back to you on a regular basis?
I’ll let you in on everything I did to get high-income-generating deals in the real estate game.
Secure your seat for my Real Estate Training on June 25, 2022, and you’ll understand why cash flow is — and always will be — king.
Be Great — and make good choices,
Featured image source: Drake @champagnepapi / Instagram