New York, NY (Top40 Charts) Master P, the iconic rap mogul, entrepreneur and film producer, might need to add another title to his description - investment adviser. With a net worth of more than $200 million,
Master P wrote an introduction to the second edition of "Never Go Broke," a book by financial expert and adviser Ed Butowsky.
Master P, real name Percy Miller, has built a financial empire that includes several rap labels (including "
No Limits" records), a film production company, and recently introduced products such as Soldier Snacks, Rap Snacks, Rap Noodles, Master Crunch Cereal, LA Great Water, Moneyatti Shoes and Clothing. Master P's motto is "The more we make, the more we give."
"When the idea came to me to work with Ed on this project, it was a no brainer! I came from poverty. I'm an entrepreneur, an entertainer and a former pro athlete (basketball). And I'm managing millions of dollars. Finally, I have two sons currently playing high-level basketball. I owe it to them to support this book. It is a must have for all athletes, entertainers, and entrepreneurs," said Miller.
"'Never Go Broke' is about investing in yourself, bringing out the best in you and learning the strategies so that you can apply them to your own life. The book can enable you to build generational wealth for yourself and your family."
Master P's introduction in the book is the second one. The first was written by former major league baseball star Torii Hunter, a long-term client of Butowsky's.
"Ed Butowsky has been my friend and financial adviser for more than 20 years. All I know about investing started with him," Hunter said. "Like many other athletes, I got caught up in materialism. I bought a $100,000 necklace and a $200,000 Bentley. But I learned from Ed that we might fare better by shifting our identity to the things our money can accomplish. I'd rather invest in someone's future and my own."
Butowsky, who founded his firm, Chapwood Investments in 2005, spent 20 years with
Morgan Stanley. He has spent the last 10 years highlighting the problem of athletes going broke. Sports Illustrated featured Butowsky in a cover story on the issue in 2009 as did ESPN for its "30 for 30" 2012 documentary, "Broke." Butowsky has also written a number of books, including the first edition of "Never Go Broke," which was published in June of 2021.
"More than half of all players in professional sports end up in financial stress five years after they retire," said Butowsky. "And the problem is even more acute in the
National Football League, where that number is roughly 80 percent.
"You can do far better than that, and this guide will help you. It will show you how to reduce risks, take money off the table and lock it away, and invest it safely to get the highest payback without having to make wild bets."
Butowsky has helped more than 75 athletes secure and grow their futures. And he has trained 100 more in financial boot camps.
Never Go Broke: Investment Guide for Professional Athletes is available from Amazon in a paperback format or in a Kindle format.
