Long before he was rocking stages as Lil Yachty, he was born Miles McCollum to a modest family in Georgia. The rap sensation had no experience with the kind of money he was about to see. So, when he signed his first deal with Quality Control Music, he “blew that first check in a week.”
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That first check wasn’t a small thing either. The hip-hop star revealed to Shannon Sharpe on Club Shay Shay that he blew through $1.3 million in a single week. Sharpe was beside himself at that admission. “In a week?! What the hell you buy, New York City?” he asked incredulously.
Yachty detailed that his first transaction was for a Mercedes G-Wagon, a gift for himself. From there, he simply kept swiping his card.
“I can’t be in a G-Wagon if momma ain’t got no car. Okay, range rover… Pent house… Grandma need a car? Gucci, I need everything in this [store] in every color. I was going crazy, I was 18. I [messed] that money up so quick… I didn’t think about it, it was just gone.”
Thankfully for him, “I may have spent that million in a week, but I probably made it back in the next two weeks.” Celebrity NetWorth records his current net worth at a whopping $8 million, though it’s very likely that the amount is even bigger than that.
Noting how irresponsible he was in his younger days, Yachty also mentioned “I didn’t even have the password to my bank account… If I started at 18, I probably didn’t have the password to my bank account until I was 24.”
However, he was able to show some self-awareness and maturity as he talked about the pointlessness of extravagant spending
“I think it’s all stupid. You can only go to one place at a time, what do you need so many cars for? Right now, I’ve got like 13 cars, for what?”
“I think it’s all a stupid obsession,” he proclaimed, suggesting that materialism is a rather pointless burden in and of itself.
Sharpe was willing to encourage spending on watches, however, going as far as to let the young musician know that the timepieces “let people know that your time is valuable.”
Ultimately, Lil Yachty’s message for viewers was one of humbleness.
“Save your money. I don’t care about any of this stuff… Of course, spoil yourself and do good things for yourself, reward yourself. Don’t over-reward yourself.”
Lil Yachty is currently promoting his ongoing tour with Tyler the Creator and Paris Texas. Chromakopia, the worldwide tour, is set to make stops in the United States, Canada, New Zealand, and Australia throughout the coming months.
The 27-year-old icon, who dominated the late 2010s with his unique blend of trap, pop, and alternative sounds, is set to continue amassing riches for as long as he so chooses. Simply put, whether he’s in Poland or Minnesota, fans will be willing to show up any time Lil Yachty takes the stage in his high-top shoes.
