Since I studied marketing data during MBA program, I became a fan of data analytics, and boom - now I'm here, about to wrap up my Data Analysis and Visualization studies in another master's program two years after completing my MBA degree. My capstone project will be something of music data and I keep an eye of music surveys and charts, not just the popularity ranking but to find out what makes emerging music tracks dominate the market.
While I was going through Statista - The Statistics Portal for Market Data, Market Research and Market Studies today, I found this infographic that someone created, and I was like wow. It's from the data in 2017 while Drake was making hits after hits, still looking like a baby when you stash that dough compare to Diddy and Jay.
credit: Dyfed Loesche, Sep 26, 2017
The difference is obvious, it's not about making hits and how much you make, but about how you run that money when you get it in your hand. The height of the stash between Diddy and Drake is not about how much they made from their music, because -- you don't even remember when Diddy made a hit last. The difference is made during those 13 years of their career (2010 - 1997), while Diddy successfully invested his money in businesses and real estates where it grew exponentially. Which means, Drake could have the same amount of money that Diddy and Jay have now in 13 years, but by that time (if all of them grow their money at current rate), the difference will never come to close, but it'd just become even bigger.
The moral of the story is,,, don't spend all your money on parties and materials that don't stay with you, get educated with financial literacy and spend it on intangible assets until you have more money that you can spend. I'm not quite sure how exactly Birdman made this happen, but he is absolutely right, where he told Forbes (Forbes!), "As a child I always felt if I could make $1 million, I could make $100 million. If I could get $100 million, I’m just nine steps away from being a billionaire," except that in theory, it's not nine steps anymore, but it'd just become less like 8 or even 5 steps because of that exponential accumulation.
And yes, I'm talking to my old me as well who would have never listened and partied away all the money made. But you can also start from anywhere. Thanks to the hip hop moguls again for the important lessons. 😊 🎶🎧
#investment #gradlife #dataanalysis #dataanalytics #hiphop #Diddy #JayZ #Drake #Birdman #mba #financialliteracy