A resurfaced video from an April episode of “The Rickey Smiley Morning Show,” singer-turned-serial entrepreneur Kandi Burruss shares important financial advice she received from rapper LL Cool J, early in her career.
Wisdom From LL
The “Rock the Bells” star was able to relate to Burrus, who burst on the scene as a teen star in the So So Def group Xscape, because he too was a teen star, becoming not only Def Jam’s first major star, but signed when he was 16 years old.
His advice seemed simple but was wise and conventional.
“LL Cool J told me to always have at least one house and one car that’s paid for,” the mother of three recalled.
The hip-hop legend warned her about the unpredictable nature of the music industry, urging her to prioritize paying off debts. “He was like … every time we get some money, this when I had my first house, pay a little bit towards the principal until it’s paid down … because it’ll take years off your mortgage.”
Adding, he told her, “Pay it off as soon as you can.”
This straightforward yet powerful advice became one of the financial cornerstones for Burruss as she built her empire.
It also paid off for the Queens native who currently has an estimated net worth of around $120 million to $130 million, and bolstered by his own career as a rapper, actor, and entrepreneur, and also has in his pocket a strong real estate portfolio.
A pioneer in hip-hop and Rock & Roll Hall of Famer, LL found mainstream success with hits like “I Need Love” and “Mama Said Knock You Out.” But beyond music, he has been a titan in wealth building, making his mark through acting, notably on “NCIS: Los Angeles,” and founding Rock the Bells, a media platform dedicated to celebrating classic hip-hop culture.
Additionally, his licensing and brand partnerships have broadened his reach and revenue, making no wonder how he became the first hip-hop artist to receive the Kennedy Center Honors.
Still, with all of those different streams of revenue coming in, his diverse portfolio also includes luxury properties in New York and Los Angeles. He owns properties in various high-value locations, including his family estate in New York and homes in Los Angeles, showcasing his investment in luxury properties.
The Grammy winner Burruss has not done so bad for herself, standing at an estimated net worth of $30 million, according to Celebritynetworth.com.
Burrus has built her wealth through a mix of entertainment, entrepreneurship, and strategic investing.
Rising to fame with Xscape and then as a star of Bravo’s “The Real Housewives of Atlanta,” Burruss expanded her reach with ventures like the Old Lady Gang restaurant chain and Bedroom Kandi, an intimate lifestyle brand. However, songwriting royalties are another income stream, with hits like TLC’s “No Scrubs” and Ed Sheeran’s “Shape of You” solidifying her financial success.
Her real estate portfolio, including a lavish Atlanta estate and rental properties throughout Georgia, which reflects LL’s early influence on her financial mindset.
These investments, along with her entrepreneurial projects, have established Burrus as a powerful business figure. However, it does not mean that she has not had some setbacks.
During her 2023 interview with Shannon Sharpe on “Club Shay Shay,” she recalled how an accountant mismanaged her funds while she was working in the singing group.
“When we were sitting down with the accountant I remember he was saying, ‘This is for miscellaneous,’” Burruss recounted. “And it was like 100-something thousands of dollars … Then come to find out, it was two accountants that were partners and one of them disappeared. So I guess he disappeared with our money.”
Her story is not much different than other new recording artists, athletes or actors. Many, like Al Pacino or Terrell Davis, say that they were so focused on being stars that they did not focus on watching their financial advisers.
Currently, she is exploring new terrain, which was why she was a guest on Smiley’s show. She is one of the producers on “The Wiz,” which just finished a run on Broadway and is currently on tour.
Always innovative, one way the producers are working to pack the house is by partnering with organizations like Delta Sigma Theta Sorority, Inc.’s “Crimson Stage” program to do sales packages with the world’s largest Black sororal organization.
