At Entrepreneur’s Overcoming Impossible event, the three-time Grammy Award-winning star talked about how people can avoid her mistakes.
Before Megan Thee Stallion made it big and signed her first record deal, she thought that rappers made a tremendous amount of money. She saw the social media posts they made sporting new cars and fancy clothes. She couldn’t wait to become a rapper and take care of her whole family.
However, the three-time Grammy Award-winning star, whose real name is Megan Pete, said that the reality of her first record deal was that she wasn’t getting paid what she was worth.
At Entrepreneur’s Overcoming Impossible event last week, Pete said that when she signed her first deal, she knew “it wasn’t the best deal.” What pushed her to sign it was the knowledge that she was going to be able to take care of her mom and pay the bills with the money. She was excited to “take care of her people.”
However, the bigger she got, the more she realized how much her likeness and sound were worth.
“I started realizing I’m not making as much money as I should be making because I kind of just gave my life away to somebody else,” Pete said. “I had to take a step back and think, Okay, let me see what’s going on with my contracts. Let me figure out how I can be my own boss.”
Pete said that her biggest mistake early on was being scared to ask questions about her contract.
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