Boss Up!: Rick Ross Details The Financial Genius Behind Buying His Son A Wingstop Franchise For His 16th Birthday
For Rick Ross, family and business are adjacent. With his mother and sister as the managers of his finances, it only makes sense that he wants to pass on the importance of generational wealth to his eldest son.
While breaking down Assets Over Liabilities with Revolt, the multi-million-dollar music mogul and businessman revealed details about the financial mindset that led him to his riches. Highlights of his chat included: 1) leaning into investments. 2) turning your property into moneymakers. 3) building a team that’s reliable.
“Small talk shouldn’t make it to the boss. You should have someone on your team that’s so hungry that sh*t ain’t even gonna to get past them. Of course, they gonna check-in and run it by you, because that’s what you do—out of respect for the boss—but you already know that the play is,” he shared during the hour-long chat.
Hoping to pass on his business savvy to his teenage son, William Roberts III, the father-of-four explained his decision to gift his son his very own Wingstop on his 16th birthday.
“You know my son, he’s a very mature individual. He’s actually a great student, a great son, and he’s an amazing football player as well,” he told hosts Rashad Bilal and Troy Millings. “He’s very mature, he grew up watching me run in and out of Wingstops. He’s always been ‘Come on I’m finna go to Wingstop, let’s go. I grab a broom, you get the mop, come on, let’s go.’ He understands that. He gets that.”
The Maybach Music CEO is proudly a hands-on owner of more than 25 Wingstop franchises, and we’re quite impressed with his decision to groom his offspring on the path of entrepreneurship.
“So I just wanted to reward him as he’s coming into a young man, his maturity level, and let him know ‘Come on, let me give you some of these responsibilities as well. It’s not just money and paper, but it’s also responsibilities. Phone calls you sit in on here and there, let me get your input on this and that because it’s valuable.’ I’m just letting him know how valuable he is,” he said.
He continued, “I think us as fathers and men, we gotta teach our youngsters how to come into manhood and be responsible and take care of yourself and not only yourself, but your family that you gon’ create. So you not just thinking for yourself, you gotta be in the position and on the level to think and take care of others.”
To learn more about Ross’ business smarts, check out his book “The Perfect Day To Boss Up: A Hustler’s Guide To Building Your Empire.”
