Nelly has sold a 50 percent share in his music catalog for $50 million. A rep for the rapper who confirmed the news to Rolling Stone said that it includes hits such as “Hot in Herre,” “Dilemma,” and “Ride Wit Me.” The deal covers the rapper’s eight albums, including his 2000 debut, Country Grammar, which has been certified diamond and 2002’s Nellyville, which has been certified seven times platinum.
The purchaser, as reported by Entertainment Tonight, is HarbourView Equity Partners, a self-described “global investment firm focused on niche markets and esoteric investment opportunities.” Inc. magazine recently recognized the Newark, New Jersey–based firm’s founder and CEO, Sherrese Clark Soares in its “Female Founders 200” for her role in acquiring music by Nicki Minaj, Justin Bieber, and Florida Georgia Line.
ET also reported that Nelly is working on a follow-up album to 2021’s country-leaning Heartland album, titled Heartland 2. The album will continue the country direction of the predecessor and will feature only female collaborators.
The original Heartland’s “Lil Bit,” which featured Florida Georgia Line, made it up to Number 23 on the Hot 100 and has since been certified triple platinum. The album also featured collaborations with Darius Rucker, Jimmie Allen, Kane Brown, Breland, and Blanco Brown. To capitalize on his country success, Nelly has also entered into the moonshine business selling his own MoShine, which he claims “blends the southern swagger and heartland hustle that unites his two worlds,” according to ET.
Earlier this year, Nelly was revealed as the owner of a new horse-racing league, the National Thoroughbred League; Rick Ross is another owner. The league has said that it would be “akin to Formula I” racing and would feature both male and female jockeys. Teams will be headquartered in New York, Los Angeles, New Jersey, Seattle, Nashville, and Philadelphia.