Rick Ross - The Keys To Building Wealth & Becoming A Boss

Legacy of Monsters An Apple original series. The world is on fire. I decided to do something about it on November 17th. This place, it's not ours. Believe me, the most massive event of the year arrives. If you come with me, you'll know everything. I promise.

Oh, my God.

Go, go, go.

Legacy of monsters streaming November 17th only on Apple TV plus.

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Casey Adams here. Welcome back to the Rise of the Young podcast. On today's episode, we have a very special guest, the one and only Rick Ross. On today's podcast, we go over his journey as a musician and successful entrepreneur. And if you don't know, Rick Ross is the CEO of the Maybach Music Group, owner of 25 plus Wingstop locations, the owner of Rich by Rick Ross, which is the best hair and beard grooming product money can buy, as well as the owner of Bel Air Champagne. And this podcast was very special to me. Not only have I been listening to Rick Ross for years now, but I am a huge hip hop fan. So that being said, take a moment to screenshot this podcast, post it on your Instagram story, tag Rick Ross, tag myself, share it with a hip hop fan, and last but not least, enjoy the episode. All right, what's going on, everyone? Casey Adams here. Welcome back to the Rise of the Young podcast. Today we have the one and only Rick Ross. Thanks so much for coming on the show, man.

Man, I'm happy to be here. Shout out to, you know, everybody that's tuned in and congratulations on you shining, homie.

I appreciate it, man. So, I mean, I've been listening to your music for quite some time, but I've hosted this podcast for the last two plus years and I bring on entrepreneurs and I know that you preach entrepreneurship and business as well as that you just came out with a new book called Hurricanes. So to start off this conversation, man, first off, what inspired you to write your book and what keeps you motivated in the entrepreneur world?

I think honestly, one of the things that keep me inspired the most is when I see really the success of others, you know, because it just, it just reminds me that I'm that capable and I really believe it. And if you someone who really tell Yourself that and you really practice what you preach. It's only so long you can go without really being encompassed with that success and that drive. And really just after purchasing, you know, the 48 laws of power and you know, different books, mass, Massachree and just all those different, you know, it's just like, yo, I got to give somebody my perspective. Yeah. You know, and that's what most definitely my memoirs about, you know, just giving them my perspective. It wasn't so much intended to inspire. I wanted to give them my perspective, which I knew would be inspiration within.

Itself for sure, man. What's, what's your advice to young entrepreneurs that are just starting their first business? Because I know, you know, it's someone like yourself has been able to build an empire in, in their world outside of just music. So what's your advice to young entrepreneurs starting their first business today?

I think what's most important is it begins with you, your lifestyle, you know, how serious are you about, you know, sustaining capital, saving your money? How do you really spend your money? What do you really spend your money on? What means the most saving or enjoyment? You know, some quick fun shit, you know, it's really on you. And I know for me, like I made clear in the memoir Hurricanes, my first year, I didn't even buy a car after my first record exploded and I began to generate real income. Performing appearances, walkthroughs, collaborations, record sales. For the first year, I wanted to sit back and see what this pace was. How long would this last? First and foremost, how much could I accumulate and what would I do with that? And so my first year, I didn't want to spend nothing. I wanted to save, to put me in a different category. So if I did want to make an investment, it wouldn't just be on a quarter million dollar house or half a million dollar house. If I really stacked, if I wanted to invest in something else, you know, upwards towards 5 million, I'll be in a position.

Where does that mindset come from?

Well, for me, just because a lot of times I look around and I realize it's not, it's common. I. That's why I give my mom so much credit. You know, my mom, she always was a hard worker. She, you know, achieved multiple degrees and that also spilled over into my sister. Not too easily for myself. You know, if I could, I would go back now and get me a degree or two. But, you know, it's never been that easy for me. I always was able to finesse in other areas. Yeah, that's What I made sure I.

Focused on for sure, man. So I'm 19 years old right now. I'm not sure if you knew, but I want you to bring up just what advice do you have to your younger self? Because I'm sure you've learned so much throughout your journey as a business owner and as a musician, but what advice do you give to 18 year old entrepreneurs based on the journey that you've been through?

You know, first and foremost, man, you got so much life to live. You got so much life ahead of you. Let's keep the priorities the priorities. Let's not bullshit. If you imagine yourself being married at 21 and kids at 23, if that's your vision, cool. If it's not your vision, great. Let's chase this success, you know what I'm saying? And anybody that's supposed to be there with you, they gonna want you to have it even better than you want it. So they'll be there with you, they'll stay there with you and lay out your vision because it's already there for you. It's clear.

Yep.

It's most definitely clear. Lay that shit out and go get it.

Yep. How do you define success in your life?

Success in my life really is being in a position to provide, being in a position of peace, being able to. Being in happiness. I'm not sure will I ever just be happy? I don't know if I really want to be happy. Sometimes you got to ask yourself that and answer that because a lot of times the things you put yourself into and things you become a part of, what do you want more? You know what I mean? And to me, me accomplishing certain things is my, my form of happiness. So. Yeah, so to me, I just want to accomplish some shit. I want to set some goals, I want to challenge myself, I want to push myself and I want to watch others break. That's running that same race with me. And I keep going. And once I cross that finish line, to me, that's my fulfillment, that's my happiness.

Love it. I mean, speaking of that, you know, you've, you know, you've had Maybach Music Group, you have Wingstop locations, you have all these different businesses. What is your fundamental business strategy when building brands and when you go to launch something new, what's your strategy? Because you've done so well with all the projects you're a part of.

I think something that I recognize over this pandemic, which was, you know, of course, unfortunate as fuck. I'm not gonna dwell on that, but One thing that I really realized that all of the investments I had in common was basically they. They were all essential, other than me performing for crowds for me performing for fans. You see the Black Bottle Boys, the Bel Air Flowing, me enjoying nights out, performing my records that, you know, I worked. So other than that, that's the only thing that I really had to miss or go without, which was the right thing to do. Other than that, Wingstop, those locations remained open. Checkers, it remained open. I began to do more on social media just to stay in touch with my fans because I got to read comments more than I ever have and answer a few more questions. A lot of things I did on my social media was because they were asked so many. Rose, you lost so much weight. What do you eat in the morning? I'm like, why do. It's five times more eat in the morning questions versus the rest of the day. So I began to show people what I eat in the morning. This is what it is. This what it is. But other than that, man, you know, I love that, man.

I saw you had some great fish this morning. I want to touch on that, though. Just daily routine, right? I know that's super important to you. What is your daily routine? And you know what, what keeps you motivated on a daily basis?

Well, you know, like I say, I'm motivated when I wake up to the circle that I have, the investments that we have, everything else I'm looking into. I just got a text maybe an hour ago from somebody real close to me, and they told me that that was. I was looking at a 220 unit, you know, complex, and they just told me that it was actually under escrow. So it's. It's. It's always something new.

Yeah, you say get a duplex before a Maybach, and I've been following you for quite some time. And, you know, when you go on rants in your Instagram story about entrepreneurship, I know it relates to a lot of people that are looking to start businesses, but talk to me about that when it comes to real estate and how you look at that when it comes to, you know, acquiring these locations and these duplexes, just. Is this where you're putting majority of your focus, or how do you separate your time with everything you have going on?

Well, really, to me, it just feels most natural real estate land. You know, we could reproduce as many cars we want. Our paintings, those pictures on the back of the wall, they can make those. But that address, that location you have, they can't remake that. They Gotta come see you for that. If that's in your name, they gotta come see my little homie. They gotta bust that bag down. They gotta give my little homie what he want. If they want it. If they own the boss vibe, they gotta come see you. And that's what it's about to me. To me, real estate is as good as it gets. You know, I never got to mingle in other things. You know, I sit at the table with some of my homies and they looking at their stocks and they're looking at this and that, and that's cool. I watch. I watch. You know what I'm saying? But I'm most comfortable, without a doubt, investing in real estate. Acres, commercial, residential, whatever it is. I haven't lost a dollar in a real estate investment.

I love that, man. When it comes to the future, how you look at your life, what are you excited about? For what's to come. Right. Cause you got a lot going on, and this is just the beginning. So what keeps you excited and what are you excited about?

You know, I feel like. I feel like as you come into your early 40s, that's when you really get to play with the real numbers.

Okay.

I really feel like this one, I'mma really get to play with different numbers. Real numbers, real investments. That's when they begin to, you know, you do other things. Yeah, and right now, this one, I begin to look at, you know, different things. This one, you begin to look at proteins and just all the things that you would just fathom, all the things that you may not even believe, all the things you may still on the inside of your heart feel is impossible, but the reality is there is a possibility there for sure.

What's like when you talk about pro teams?

Yeah, yeah. I'm talking about, like, the Dolphins. I'm talking about, like, you know, when I'm sitting around with D. Wade and we having certain conversations. You never know what the play may be in five years, 10 years. You never know what the possibilities are. We may have three Super Bowls with tua, and I may be on the sideline with the Gatorade cup, squeezing it out because I got, you know, 2% of the dolphins. You never know.

That's what's up. Would you say that's a goal of yours to honor part of the Dolphins?

Oh, man. Just being in the game, period, just being able to be around the teams that I love, period, would be a dream come true.

I love that, man. It's funny because when you talk about, you know, Dolphins or The Heat do you have? You know, which one would you rather be involved in if you had to choose right now?

I mean, you know. You know, I'm a huge Heat fan. We all know that. You know, I love the Dolphins from day one. I grew up on Dan Marino. Of course, there was a space, there was 20 seasons between Dan Marino and I feel like where we are today, which is, you know, we just, you know, grab tour, you know what I'm saying? I feel like he really our first superstar. Other than flashes of greatness from running back Ricky Williams, you know, few defensive players, we haven't had a superstar on the Dolphins since Dan Marino left. I feel Tua's the first. First one back that'll really get the city involved. You know, make everybody proud, being where they from. And I feel like our future, extremely bright.

Yeah.

And I'm gonna be throwing it up for the doctors. I'm throwing it up. Straight up, for sure.

I have two more questions, man. First off, this conversation has been great, but when it comes to the way you look at the world now, especially what's been happening with this pandemic and how things have shifted, what have you learned about business during a time like this? Because it's something that everyone's going through, right? Maybe people are getting, you know, losing their jobs or their businesses is taking a hit. What advice do you give to people that may be going through some struggles right now? Because I know you've been through a lot in your life. How have you remained, you know, on top through your struggles?

Well, you know, that's something that I always, always preached. You got to save. You got to prepare for. For these days. These are the days you have to prepare for, not the days that you assume, you know will always come the same. Every seven days will always be the same. No, it will not. You know, you come across certain challenges, you come across certain things, and it's unfortunate, but when I think about quarantine and me remaining indoors and remaining social distance, you know, for me, that was just like being on house arrest, you know, getting out on bond, man. And that's what I had to do for almost two and a half years at one time. So for everybody that's going through it, prepare for these days. And when you are at home, find something to do. So, you know, you know, last week or a week or two ago, I cut my grass for the first time actually yesterday. You know, I pulled the weeds out around the house. You know, I'm helping out. You know, I don't want to Say I did it all because I'd be, you know, that wouldn't be true. But I most definitely got out there and put some hours in because that's what it's about. We got to invest in ourselves. This your real estate. This your neighborhood. This your block. This your community. We got to invest in ourselves. And that's what we got to start with. Ourselves and right around us. Immediately around us. Yeah.

Love it. Last question. To really wrap it up, I know that we give a huge shout out to Robert Greene earlier, but I know you talk a lot about 48 laws of power and, you know, education and self education. What has that book taught you and how do you remain just, you know, self educating yourself on a daily basis?

I think a lot of times the book itself is you read it going with the flow. And it's something that I like to tell myself sometimes after you read it, going with the flow of it, you got to read it counterclockwise now. So sometimes it's certain laws that you take and you ask yourself, okay, let's say, for instance, never outshine the master. The master, okay? You never outshine the master. Okay. Why not? And if I were, if I were to, how would I. Okay, that's going against the flow. That's going counterclockwise now. So it's giving you game. It's letting you know. That's just like me watching the Last Dance and Scottie Pippen coming in telling Charles Oakley, I'm gonna be better than Michael Jordan. It's a perfect reference. You never outshine the master, you know, and that was one of the reasons why.

Love that. I love Last Dance. I was watching the last night. Yeah. All right, just to wrap it up, Rick, first off, huge shout out to you for coming on the show. I want to ask you real quick too. Just I'm curious what inspired you to do this podcast today? Because I know we've been in the DMs for quite some time on Instagram, and I'd love to get your thoughts because I know, you know, it's a cool lesson that a lot of young entrepreneurs will learn. And I have an audience, you know, 18 to 25, so I'd love to just get your thoughts on that real quick.

What made me interested in doing your podcast was the fact you presented yourself as a boss. You presented yourself as a hustler. 99.9% of people who present themselves to you online will come with their hands out. You came like a boss. You came with something that you presented on the Table. Big homie, I know your time is valuable to you, but I just want to let you know this what I bring to the table. The. You know, one of my last interviews was with such and such and such and my future. This what the play is and I'd be interested. And I said, you know what? The little homie future bright just by the fact he know how to present himself. He know how to come to the table as a boss. And it's sad, but a lot of people who could have done those same interviews, they just wouldn't even know how to present themselves to let someone know that they have something to bring to the table, which you do. And I want to see you keep shining.

I appreciate that, man. That means the world to me. Last thing, where is the best place for people to stay up to date with everything you have going on in your life?

Well, of course you can always go to my ig Rich forever. And you know, I pray we are rich forever. My Instagram, I usually keep everybody updated. Everybody who tuned in. A good friend of mine, Wale, he actually just released a new video titled Sue Me. It's a very incredible video. I want y' all to check that out. You know, Meek Mill, Double mg, shout out to Yvette, who you know, who tagged us up? Just my whole squad, Gunplay. He dropping some new record. A new record of my Pyrex popping that'll be coming out, I want to say, May 15, and I'm in the studio, so. Maybach Music, man, you know, one time for the Black Bottle Boys. We still doing what we do best, you know what I'm saying? And that's make big records.

Love it. Well, Rick Ross, thanks so much for coming on today. My man.

Much love, baby. Keep shining. Foreign.

Legacy of Monsters An Apple original series. The world is on fire. I decided to do something about it on November 17th. This place, it's not ours. Believe me. The most massive event of the year arrives. If you come with me, you'll know everything. I promise.

Oh, my God.

Go, go, go.

Monarch. Legacy of monsters streaming November 17th only on Apple TV.

Plus.