The Superdome will never be the same after July 6th.
When Percy “Master P” Miller takes his final bow at ESSENCE Fest, he’ll be closing one of the most impressive chapters for a hip-hop artist OF ALL TIME. And honestly? I don’t think I’m ready to say goodbye!
I’ve been emotionally invested in this family’s journey since Lil Romeo’s ‘My Baby’ dropped (real ones know) and that crush quietly followed me into adulthood. And of course, you couldn’t be a Lil Romeo fan without being a Master P fan as well.
And as I got older I realized the teeny bopper songs of my youth were just one piece of the puzzle. The Miller clan, led by its head huncho Master P, were there to dominate everything from music to business in a way that had never been done before from southern artists (or MOST artists in fact). So, without even realizing it, we were all watching history be made. That $10,000 life insurance check from his grandfather’s policy has grown into a multimillion-dollar empire, and we got front-row seats to the entire journey.
While other artists were signing deals that left them broke and bitter (because to be honest, most of those deals back in the day would leave any artist broke and bitter), Master P studied the business side of music like his life depended on it. Because frankly, it did at that time.
Here are a few lessons we’ve learned along the way from watching his journey, and why he’s leaving us with more than a fire set at ESSENCE Festival of Culture.
Lesson 1: Turn Crisis Into Opportunity
When a career-ending basketball injury led to a $10,000 insurance settlement, most people would have spent it on temporary relief. Master P saw something different. He saw seed money. Starting with that $10,000 inheritance from his grandfather, he began selling CDs and tapes from the trunk of his car, eventually opening his own record store, No Limit Records and Tapes.
Lesson 2: Ownership Is Everything
First, he understood ownership from day one. While other rappers were happy to have record deals, Master P was building his own infrastructure. No Limit was a complete ecosystem of southern artists and talent that he discovered, nurtured and helped to perfect their craft. He owned the masters, controlled the distribution, and kept the majority of the profits flowing back to him and his artists.
Let’s not forget, he didn’t have major label money to back him up, but instead bet on himself and poured all of his money (and time) into the business. The lesson here is that although it will take some blood, sweat and tears (mixed with pure hustle and smart business decisions), if you keep working at it, it will eventually pay off. The independent approach meant he could move faster, take bigger risks, and keep more of what he earned.
Lesson 3: Diversification Is Your Safety Net
Then there’s the diversification lesson. Music was never Master P’s end game, it was his foundation. He invested the millions of dollars he made from his No Limit record company into a travel agency, a Foot Locker retail outlet, real estate, stocks, film, music, and television production, toy making, clothing, telecommunications, a jewelry line, auto accessories, book and magazine publishing, car rims, fast food franchises, and gas stations. If there was money to be made, Master P likely had a stake in it.
He understood that building real wealth meant not putting all your eggs in one basket, even when that basket was making you millions. No Limit’s money didn’t even mostly come from music in the 1990s, though the sales were certainly respectable for the time. His real money? It came from film, fashion, media, and more.
Lesson 4: Know When to Pivot
One of his most underrated business moves was recognizing when to pivot. When No Limit’s dominance in music ended, Master P was already deep into his other business interests. He pivoted early — before the music slowed down — a move most don’t realize they need until it’s too late.
The sports angle shows another side of his business mind. He didn’t just want to own entertainment companies, he wanted to own pieces of professional sports teams. He made serious runs at buying NBA and NFL franchises, and it didn’t stop there.
Lesson 5: Make It a Family Business
What makes his wealth-building approach particularly powerful is how he’s always thought generationally and involved his family in the business from day one. His children weren’t just beneficiaries of his success, but active participants who were all getting a piece of the pie.
Romeo and Lil Romeo became artists under the No Limit umbrella, but more importantly, they learned the business side of entertainment. Silkk the Shocker was his brother and business partner. The family structure meant that profits stayed within the Miller circle, and knowledge got passed down to the next generation. Instead of hiring outside executives, Master P kept key positions in the family, ensuring loyalty and shared vision.
His children are still involved in his businesses today, learning the principles that made him successful, and extending the legacy beyond his own achievements. When you build wealth as a family unit, you’re establishing a foundation that can support multiple generations.
Lesson 6: Think Generationally
The transition he’s making now from performer to businessman and mentor demonstrates this same strategic thinking. At 55, he’s stepping away from performing not because he has to, but because he’s choosing to focus his energy elsewhere. He’s coaching his sons’ basketball careers, investing in new ventures, and positioning himself for the next phase of wealth building, but of course, he knows that it all goes down at ESSENCE Festival so he’ll be making a grand return.
Lesson 7: Exit on Your Own Terms
The timing of his farewell performance is perfect too. New Orleans, the city that nurtured his rise, will witness a farewell that celebrates his monumental influence on music, culture, and business. It’s a full-circle moment that reminds us how important it is to remember where you came from while building toward where you’re going.
For those of us watching from the audience, whether physically or spiritually, Master P’s blueprint offers some clear takeaways. Own what you can own. Diversify your income streams. Think beyond your current success. Plan for generational impact. And when it’s time to evolve, do it on your own terms.