Built No Limit Records into a $400M independent empire — the original blueprint for hip-hop entrepreneurship.
Percy Robert Miller, born in the Calliope Projects of New Orleans, Louisiana, is the original independent mogul. Master P built No Limit Records from a record store into a $400 million entertainment empire in the 1990s — entirely without major label backing. He negotiated an unprecedented 85/15 deal in his favor with Universal, retained ownership of his masters, and extended the brand into films, sports management, clothing (BOSS by Master P), and food products. His tank logo became a symbol of independence. Master P's playbook was decades ahead of its time — own your masters, control your distribution, diversify relentlessly.
Founded No Limit Records without major label investment
Negotiated an 85/15 revenue split in his favor with Universal
Retained master ownership of his entire catalog
Diversified into film (No Limit Films), sports management, and clothing
Built food and consumer product brands (Rap Snacks partnership)
