Miles Parks McCollum, professionally known as Lil Yachty, has made waves in the hip-hop industry with his distinctive style, often described as “bubblegum trap.” His journey from a struggling artist to a millionaire rapper and entrepreneur is one of perseverance and innovation. As of 2024, Lil Yachty’s estimated net worth is around $25 million, thanks to his thriving music career, brand endorsements, and business ventures.
Early Life and Background
Born on August 23, 1997, in Mableton, Georgia, Lil Yachty developed an early interest in music, particularly inspired by Drake. His father, Shannon McCollum, was a professional photographer, while his mother supported the family. After briefly attending Alabama State University, he dropped out in 2015 to pursue a music career. Relocating to New York, he hustled to grow his Instagram presence and worked at McDonald’s to make ends meet.
Breakthrough and Rise to Fame
Yachty’s big break came unexpectedly when his song “One Night” was featured in a viral video. The quirky yet catchy track intrigued listeners, propelling him into the spotlight. The success of “One Night” led to collaborations with Kanye West, DRAM, and Chance the Rapper. In 2016, he released his first mixtape, Lil Boat, which solidified his presence in the rap scene.
That same year, he gained mainstream recognition with the hit track “Broccoli” featuring DRAM, which peaked at #5 on the Billboard Hot 100. He followed this success with another mixtape, Summer Songs 2, keeping his name buzzing in the industry.
Studio Albums and Music Evolution
Lil Yachty released his debut studio album, Teenage Emotions (2017), which debuted at #5 on the Billboard 200. The album featured collaborations with Migos, Diplo, and YG but received mixed reviews. Despite this, Yachty quickly bounced back with Lil Boat 2 (2018), which performed better commercially, debuting at #2 on the Billboard 200 and selling 64,000 units in its first week.
In 2020, he released Lil Boat 3, featuring the hit single “Oprah’s Bank Account” with Drake and DaBaby. His music continued evolving, and in 2023, he surprised fans with Let’s Start Here, a psychedelic rock-influenced album that showcased his versatility as an artist.
Viral Success and Recent Work
In October 2022, Yachty made headlines again with his viral track “Poland,” which took over social media platforms. His ability to adapt to trends and stay relevant has kept him at the forefront of the music industry.
Legal Issues and Controversies
Before fame, Yachty was arrested in 2015 in Florida for credit card fraud but later had his records expunged. More recently, in 2022 and 2023, he was named in the SafeMoon and SEC lawsuits alongside other celebrities for allegedly misleading cryptocurrency promotions. He settled the case for $400,000 without admitting or denying the allegations.
Business Ventures and Brand Endorsements
Apart from music, Lil Yachty has successfully ventured into business. He has been involved in brand collaborations with Sprite, Nautica, Urban Outfitters, and Target. In a surprising partnership, he worked with Chef Boyardee and Donny Osmond on the song “Start the Par-dee.”
Additionally, Yachty joined the FaZe Clan in 2018, tapping into the growing world of E-Sports and gaming collaborations. His ability to diversify his brand has significantly contributed to his $25 million net worth.
Acting and Television Appearances
Yachty has also dabbled in acting, playing Cole Hudson in the ABC sitcom Grown-ish. His involvement in TV and entertainment continues to expand his influence beyond music.
Personal Life and Family
In October 2021, Yachty announced the birth of his daughter, though he has chosen to keep the mother’s identity private. Despite his fame, he maintains a level of privacy when it comes to his personal life.