Actually, Soulja Boy Won't Be Getting That $400 Million

Actually, Soulja Boy Won't Be Getting That $400 Million

He'll still receive a pretty penny in his new endorsement deal, though.

Published May 23rd

Looks like those skeptical of Soulja Boy's $400 million deal were right to trust their gut.

While many were hesitant to believe the rapper's news of his mysterious endorsement deal, that didn't stop him from going forward on social media to post photos of him counting stacks of money, a la 50 Cent, and as he revealed later on, discussing his excitement to be working with World Poker Fund Holdings. 

Forbes took it upon themselves to investigate the details of his new endorsement deal, and found out that the number Soulja was flaunting online is in fact an inaccurate number.

“He really kind of jumped the gun,” Matthew Bird, a spokesman for the company, told Forbes. “The deal is capped at $400 million, and it’s based on a forward-thinking valuation of the company. He’s young, he’s 25 years old. He got really excited, and he tweeted something he probably shouldn’t have tweeted."

"He was getting a lot of pressure from within the entertainment community, so he wanted to put a statement out," Bird continued. "Obviously, the company’s market cap is at $51.8 million. There’s no way they could cut a $400 million deal. Endorsement deals are calculated on a lot of different factors. This is not a fully cash transaction.”

Regardless of whether or not Soulja Boy's bank account will ever hit the $400 million mark or not, at the end of the day, it's awesome to see such a young talent winning. Additionally, he's always welcome to pick up our bar tab whenever he'd feel like. Cheers to you, Soulja!

Written by KC Orcutt

(Photo: Mark Davis/Getty Images for TV Guide)

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