It says it all in their name, brothers Ronald “Slim” and Bryan “Baby” Williams are the owners of New Orleans based Cash Money Records. Their top selling client is rapper Lil’ Wayne, who sold one million copies of his latest album “Tha Carter III” in a single week.
The Williams brothers started their record company 16-years ago out of their housing project and used independent distributors to get their albums out to the public. They signed a publishing and distribution deal about 12 -years ago with Universal Records estimated at $30 million but changed the game by demanding ownership of their masters. Under the deal Universal have given Baby and Slim a $2 million advance each year and divide the profits generated by their jointly managed artists where Universal get 20 percent and Cash Money puts a whopping 80 percent back in their pockets.
Multimillion Dollar Lesson: Just about every entrepreneur starts out as a home grown business. Work your grassroot connections. You never know when a bigger fish will take notice and want to help you along. By Porsche Slocum and Wendy Wilson