August 26th 2023.
Yo Gotti, the CMG Records honcho, recently appeared on Big Boy's Neighborhood on Power 106 in Los Angeles. During the conversation, he revealed his mindset when it comes to spending money. He believes the quickest way to become broke when you have money is to spend like it will always be there, and that’s why he is careful with his finances.
“I don’t even fly private,” he said. “I can’t afford it. I fly first class, and I’m keeping my paper. I can’t afford it up here [in my head].” He also noted that some of the artists signed to his label do that—even singling out 42 Dugg for only flying private.
Yo Gotti's caution when it comes to money is commendable, especially after he admitted that he almost lost 15 of his homes because he did not pay the property tax. He figured since he purchased the home with cash, he didn’t have to pay anything besides the maintenance.
“I didn’t even know you had to pay property taxes on a house that you’d paid cash for,” he said. Luckily, he found out before the tax man came and learned a valuable lesson. His recent interview reveals that he won't be broke anytime soon, thanks to his smart money habits.
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