French Montana Says Coronavirus Will Create a Lot of Garage Auctions for Rappers Who Didn’t Save Money
French Montana is weighing in on how the coronavirus is potentially affecting rappers financially.
"Everybody is getting put to test about one thing and one thing only: was you saving money while you was rapping," Montana begins. "Did you build a capital? Did you build something, like a retirement plan?"
The 35-year-old rapper went on to reference how he prepares himself for any unforeseen circumstances that may have occurred throughout his rap career.
"Since I been working, I always would spend and I would save because I always dreamed about a beautiful exit one day and I always saved the money for a rainy day," French explained. "But you don't see things like this coming. So there's a lot of artists that live check to check and there is gonna be a lot of garage auctions. I can tell you that."
French isn't the only rapper to publicly express how the coronavirus could cause financial harm. In early April, Young Thug said that the pandemic is causing him to lose upwards of $5 million because he is unable to perform or have shows.
"It's gonna cost me double, 'cause I ain't gonna be able to do the shows and then the money that I get for the shows," Thugger began. "Let's just say I get $500,000 if I don't do these 10 shows nigga that's God damn, that's five Ms. But then, I don't make 5 million till June, and then I might spend a million I might spend two million just on this quarantine shit."
Hip-hop has been affected in a major way since the pandemic has resulted in the cancellations of several music events and live performances, which don't appear to be taking place any time soon. Based on a new study, concerts may not start back up until 2021.
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