The evolution of Migos has been one to watch in Hip-Hop over the years.
Nearly a decade since being signed to Quality Control, the trio has yet to be knocked out of their spot. As previously reported by AfroTech, each member’s respective consistency has garnered them a combined estimated net worth of $80 million.
While the trio has been on a roll of racking up their wealth, it was recently revealed that they initially didn’t maintain it as well as they should’ve.
In an interview with the “Big Facts” podcast, Quavo and Takeoff shared what the road to strong financial literacy has been like.
According to Quavo, the group didn’t have a bank account for five to six years. It wasn’t until recently in their careers that he feels secure in managing his finances.
“How to spend it. How to use it. How to save it,” the 31-year-old told hosts Big Bank, DJ Scream, and Baby Jade, per REVOLT. “I feel like [I’m] just learning how to manage it with taxes and all that sh-t. When we first came in, we were 22 when we got the money. So, we was just like ‘fast money.’”
“We used to hide money in the floors, in the walls, sh-t like that,” he added.
Now, they have financial consultants to keep them on track with their finances and business ventures, according to the outlet.
Offset was missing to share his input on his own path to financial literacy.
However, in August, he filed a lawsuit against Quality Control for the label refusing to honor his deal as a solo act.
The fate of Migos is currently still up in the air, but Takeoff appears to be hopeful of what’s to come.
“We don’t know all the answers, you feel me? God knows,” he said to the hosts. “We pray a lot, you know? Whatever ain’t right and however you supposed to see it fit, like, you put it back together or however you do it — we pray. So only time will tell. We always family now, that ain’t gon’ change.”