“Most Musicians Are Broke” — Akon

Senegalese-American music mogul Akon has stirred fresh debate online after claiming that most musicians aren’t as wealthy as fans believe.

Speaking during a recent podcast appearance on Thursday, the Lonely hitmaker pulled back the curtain on the financial reality behind fame. 

Akon explained that record deals, expensive lifestyles, and industry costs eat up most of an artist’s earnings. 

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“The music business is an illusion. People think we’re all millionaires with endless cash. Most artists are broke, living check to check.” 

“You see the jewelry, the cars, the videos, half of that is rented. The label takes 80%, manager takes 20%, stylist, travel, taxes… by the time it gets to you, it’s nothing,” he stated.

He added that many musicians go into debt trying to maintain a public image. 

“They call it ‘smoke and mirrors’ for a reason. You’re selling a dream, but sometimes you’re living a nightmare behind the scenes.”

The Konvict Music boss said he wanted to warn young artists chasing fame without understanding the business. 

“If you don’t own your masters, your publishing, your brand  you don’t own nothing. I tell young ones: learn the business first, or the business will use you.”

Akon, who claims to have made most of his wealth from business ventures like Akon Lighting Africa and his crypto city project, urged artists to invest outside music. “Music pays the bills. Business builds wealth.”