2010 VH1 Hip Hop Honors |Hip Hop Rally Machine |

@collegeboyromeo
VH1′s Hip Hop Honors 2010 will air tonight at 9PM ET.  And for those of you in the Nation that are not Boycotting, you’ll see a lineup of Southern Artists longer than the line at the woman’s bathroom perform.  Lost in the shuffle undoubtedly will be the tribute to Master P, his No Limit Records and oddly successful entrepreneurial empire.  In the clutter, you’ll probably miss the fact that at the height of his success in the mid-90′s, Percy Miller was recognized by Forbes Magazine on its Highest Paid Entertainers list raking in $56.5 million one year.

And although, No Limit is no longer the huge conglomerate it used to be and his Miller’s paper chase may have slowed a bit he’s still very focused just more on philanthropy and less on the fast pace of Hip Hop.  That he plans to leave to his son.   And as VH1 honors Master P, it will instead by Lil Romeo who will take the mic in his stead as the father/ son tandem have officially announced the passing for the torch.

In this letter published by BallerStatus, Romeo explains how he plans to do his Brain from Pinky and the Brain impression and take  over the world.

My dad passed the No Limit torch to me and I’m prepared to continue his legacy and make the next generation better. I’ve seen family and friends turn on each other behind money. Most African American athletes and entertainers make money for a few years, but lose it due to lack of education and financial literacy. And I’ve been groomed to break that cycle. My dad gave me four things that most parents don’t give their kids: education, time, love, and shared experiences whether good or bad. I’ve seen life through my father’s eyes, that’s why I’m focused and prepared. I know it’s my time to take over in this entertainment business, but more importantly, I realize that I must continue my education at USC.

[You can read the full letter here]

At this years Black Enterprise Entrepreneur’s Conference and Expo last Month in ATL there was a theme of building black business through succession.  Earl Graves Sr.  passed the Black Enterprise empire down to his son Earl “Butch” Graves Jr. and Master P. is following in this same model.  If there is one problem I’ve seen with many black business is an unwillingness to pass enterprise on to succeeding generations.  

The truth is our Hip Hop culture has put off our parents generation and created a divide in how we communicate and understand each other.  Many of the black businesses flourishing today were spawned during the Hip Hop boom rather than cultivated by means of inheritance.  

Part of establishing wealth with our black communities is to use the momentum and knowledge gained by others.  The urge to start from scratch has been popularized by the success of Hip Hop’s pioneering entreprenuers but is counter-productive to establishing and maintaining long-term wealth within our communities. We’re just spinning our wheels while reinventing one every time we incorporate something new.  There is a lesson to be learned in Romeo’s very eloquent remark.  

“I have a billion dollars worth of knowledge. Most entertainers are running a race, but the Miller dynasty is running a marathon to success.“

Truer words have not often been spoken.  Salute