Master P Pled Guilty to Tax Violation in 2004 — What Happened to His Masters?

Leila Kozma - Author

Jan. 19 2022, Published 8:45 a.m. ET

Master P
Source: Getty Images

A record label founder and the manager representing Blueface, The Game, and others made explosive allegations about "Ice Cream Man" rapper Master P during an appearance on Clubhouse.

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As Wack 100 (aka Cash Jones) alleged, Master P lost control over his song copyrights nearly 20 years ago. Wack 100 then went on to claim that Master P is broke. What's the truth? Does Master P own his masters? What's his net worth in 2022?

Master P
Source: Getty Images
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According to Wack 100, Master P doesn't own his masters. What's the truth?

"First of all, he don't own his masters. They took them 18 years ago. You think this [n-word] be selling noodles? The feds took his catalog, bro," Wack 100 said during an appearance on Clubhouse. "Nick Cannon got real money, for real. Real, real money. I'm like, 'How is [Master P] talking to this [n-word] about what he doing and you ain't nowhere in place, my [n-word]."

"You can’t even stand with this man on a bad day," he added. "Who is you, bro, to be telling this [n-word] about his business decisions and your business decisions ain't been right for damn near 20 years!?"

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In 2004, Master P pled guilty to tax violation after failing to file a corporate tax return for one of his ventures, Bout It Incorporated.

By that point, Master P oversaw several business projects, including No Limit Records, the popular record label that grew out of a record store he and his then-wife, Sonya Miller, founded in Durham, Calif. Wack 100 was likely alluding to the supposed outcomes of the legal proceedings that took place back in 2004.

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Unfortunately for fans, further details about the case are hard to come by. It's uncertain if Master P lost his masters like Wack 100 now says. For what it's worth, Master P was also hit with a tax lien in 2018. According to a rumor, he was reluctant to pay $1.5 million in tax debt.

Master P used $10,000 to build an empire.

Born in New Orleans, La., in 1967, Master P had his first breakthrough in February 1991, with the release of "Get Away Clean." International success soon followed, with Master P treating his fast-growing fan base to hit records like "The Ghettos Tryin to Kill Me!" and "99 Ways to Die."

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By the end of the 1990s, Master P established himself as one of the most prolific rappers out there. He initiated collaborations with the likes of Tupac.

Master P opened the record store No Limit Records using the $10,000 he inherited from his grandfather.

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Is Master P broke? What's his net worth in 2022?

One of the best-known rapper entrepreneurs out there, Master P has proven time and time again that he is well-equipped to make undisputable business decisions and turn around a handsome profit.

Frequently described as one of the most affluent rappers, Master P was estimated to have a $200 million net worth in 2021. Unless he burned his way through all of the money — which would require considerable effort — he likely ranks far above Nick Cannon, who is sitting on an estimated $30 million.

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