News — Hussle Estate
Black in Business: Nipsey Hussle’s Estate Appraised At $4.1 Million
The appraisal value of the estate of deceased rapper and entrepreneur, Nipsey Hussle sets his fortune at around $4 million. Per legal documents obtained by TMZ, the Crenshaw rapper’s net worth is valued at approximately $4,169,088.57.
A significant portion of Nipsey’s fortune reportedly comes from his trademark portfolio, shares he has in companies he owned, and personal valuables including Rolex watches and gold jewelry.
Breaking it down further, TMZ reported the Grammy award-winner owned a 25% share of stock (worth $271,000) in his Slauson Avenue-located Marathon Clothing Store as well as a 100% interest in his record label, All Money In No Money Out Inc. – which is valued at around $2 million. He also has some $913,000 coming from his trademark portfolio. This includes his name, voice, signature, photograph or likeness on or in products, merchandise or goods.
Born Ermias Davidson Asghedom to an Eritrean father and an African-American mother, Nipsey was fatally shot multiple times in front of his Marathon Clothing store on March 31, 2019. Following his death, the store became a mecca for fans and sympathizers who thronged the location to pay their last respect to the 33-year-old. The store also reportedly made over $10 million in sales following his death.
Outside music, the Grammy-nominated rapper was widely known for his philanthropic works and entrepreneurial savviness. He owned several businesses along the block he was shot, including his Marathon Clothing Store — which he opened in 2017, a burger restaurant, a barbershop and a fish market.
In an interview with Forbes in 2019, the rapper revealed he had purchased the plaza the Marathon Clothing store runs alongside a business partner in a multi-million dollar deal with plans of building an apartment complex on the property.
“Before we was renting here, I was hustling in this parking lot. It’s just always been a hub for local entrepreneurs,” he said. “Within 18 months or so, they’ll knock everything down and rebuild it as a six-story residential building atop a commercial plaza where a revamped Marathon store will be the anchor tenant.”
Following his death, the store’s management announced the commencement of the construction of the Nipsey Hussle Tower on the plaza to “commemorate and honor the life and legacy” of the slain rapper. When complete, the mixed-use development would also house a museum.