News — Artist

The mid-2000s were a great time for hip-hop. New sounds and artists sprang up and many of these artists became instant hitmakers. But while some sustained their success, others faded away just like the way they emerged onto the scene.

One of those who went away was Chamillionaire, fondly remembered for his 2005 hit song “Ridin”.

In 2005, “Ridin” was a global hit and was a favorite choice for everyone’s ringtone. The song was atop the Billboard Hot 100 for weeks. But interestingly, the social message of “Ridin” – essentially addressing the profiling of young Black men by the police – went over many heads. After that hit single, Chamillionaire, unsuccessfully, released a couple of others.

As his music career begun to take a downward trajectory, Chamillionaire, had a ‘Plan B.’ He quickly learned the ropes of becoming an entrepreneur. 15 years on, he has transitioned from a rapper to a big-time entrepreneur, investing in tech firms and early start-ups.

Born Hakeem Seriki in Washington D.C., the rapper actually began his entrepreneurial journey in 2004 when he founded his own record label called Chamillitary Entertainment. He later invested in Maker Studio, a multipurpose digital platform, which was sold to Disney for a reported $500 million in 2014.

Chamillionaire then joined Upfront Ventures as its “entrepreneur-in-residence” in 2015. The Santa Monica based venture capital firm invests in early-stage technology companies. It is the largest venture capital company in Los Angeles, with $2 billion in total raised funds. Some of its notable investment includes Ulta, Overture, PayPal Credit, TrueCar, Disney Digital Network, Kyriba, and Ring.

The Grammy-winning rapper also invested in Cruise which has been acquired by General Motors for $1 billion) and ride-sharing app, Lyft, according to Forbes. The rapper has also bought stakes in Ring, a doorbell technology that has been acquired by Amazon.

In 2018, he launched his own app named Convoz to rival Twitter which he believes has been hijacked by trolls. The video-centric app aims to be a “place where you go to talk to people,” he told TechCrunch. 

“I just wasn’t happy with the communication channels that are currently [exist] on social media,” he added. The app allows users to post a 15-second video to celebrities of their choice. They can watch and decide to respond or not.

According to CNBC, the bullish investor holds investments in more than 40 start-up companies. He recently announced a competition to invest $100,000 in a minority or woman founded start-up company. Haitian born Pierre Laguerre, who made an entry with his fleeting company, emerged as the winner. Fleeting is a mobile platform that connects commercial truck drivers with on-demand trucking jobs.

According to Celebrity Net Worth, the rapper and entrepreneur has a net worth of over $50 million. But there’s no betting against the 40-year-old rising up the millionaire ladder.

A 1982 painting by deceased Haitian-Puerto Rican artist Jean-Michel Basquiat on Tuesday sold for $41.9 million at Christie’s auction house in Hong Kong, The New York Times reported. Titled “Warrior”, the auctioned painting depicts the struggles Black men have to endure in a world dominated by White people.

Though the British auction house said the amount paid for the painting was the highest for an artwork by a Western artist in Asia, that is actually not Basquiat’s most valuable piece of work. In 2017, his “Untitled” painting was purchased for $110 million by Japanese billionaire Yusaku Maezawa at a Sotheby’s auction in New York.

With sales in the art industry significantly taking a slump over the year as a result of the COVID-19 pandemic, Christie’s was reportedly hopeful the inclusion of Basquiat’s artwork in the auction would help revitalize the market.

“Basquiat is one of the strongest markets coming out of the pandemic,” Christophe van de Weghe, a dealer who specializes in Basquiat’s works, told The New York Times. “It’s worldwide. You can sell Basquiat, like Picasso, to someone in India or Kazakhstan or Mexico. You can have a 28-year-old spending millions on Basquiat and you can have a guy who is 85. He appeals to all kinds of people, from rappers to hedge-fund guys.’’

Though deceased, Basquiat is an important and rising figure in popular global arts and culture. He was born on December 22, 1960, to a Haitian father and a mother of Puerto-Rican descent in Brooklyn.

Basquiat experienced a great deal at a young age; he was in a car accident that resulted in a splenectomy at age seven, his parents divorced at the same age; his mother, who first introduced him to art, was committed into a mental institution, and he dropped out of school by the age of 15. But within a few years, he went from being homeless and unemployed to selling his paintings for $25,000.

Although many people know him for his celebrity status, as he was friends with pop artiste Andy Warhol, wore Armani suits splattered with paint from his work, and dated Madonna, the painter’s work was politic and deserves its own fanfare.

Basquiat was intentional and well versed in the social issues of his time. He once said, “the black person is the protagonist in most of my paintings. I realized that I didn’t see many paintings with black people in them.”

Basquiat died at the age of 27 from a heroin overdose but he lives forever through his art and the impact of his work and influence on American movements and pop culture.